PulteGroup, Inc. (PHM) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. cut its holdings in PulteGroup, Inc. (NYSE:PHM) by 62.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 419,728 shares of the construction company’s stock after selling 686,223 shares during the quarter. Alliancebernstein L.P. owned about 0.15% of PulteGroup worth $10,397,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Flagship Harbor Advisors LLC acquired a new position in shares of PulteGroup in the 2nd quarter valued at approximately $112,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of PulteGroup in the 3rd quarter valued at approximately $145,000. Rehmann Capital Advisory Group grew its position in shares of PulteGroup by 54.9% in the 2nd quarter. Rehmann Capital Advisory Group now owns 6,187 shares of the construction company’s stock valued at $178,000 after purchasing an additional 2,193 shares during the period. Segall Bryant & Hamill LLC acquired a new position in shares of PulteGroup in the 2nd quarter valued at approximately $232,000. Finally, GSA Capital Partners LLP acquired a new position in shares of PulteGroup in the 2nd quarter valued at approximately $291,000. Institutional investors and hedge funds own 87.67% of the company’s stock.

A number of equities analysts have weighed in on the company. Barclays set a $30.00 price target on PulteGroup and gave the stock a “hold” rating in a research report on Friday, September 14th. JPMorgan Chase & Co. downgraded PulteGroup from an “overweight” rating to an “underweight” rating and reduced their price target for the stock from $37.50 to $28.00 in a research report on Friday, September 21st. ValuEngine downgraded PulteGroup from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 27th. Bank of America downgraded PulteGroup from a “neutral” rating to an “underperform” rating and set a $26.00 price target for the company. in a research report on Monday, November 12th. Finally, Citigroup reduced their price target on PulteGroup from $32.00 to $26.00 and set a “hold” rating for the company in a research report on Wednesday, October 10th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $31.00.

NYSE:PHM opened at $26.23 on Friday. PulteGroup, Inc. has a twelve month low of $20.64 and a twelve month high of $35.21. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market cap of $7.20 billion, a price-to-earnings ratio of 11.98, a PEG ratio of 0.42 and a beta of 0.91.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, October 23rd. The construction company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. PulteGroup had a return on equity of 21.98% and a net margin of 8.63%. The firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the prior year, the firm posted $0.60 EPS. The business’s revenue was up 24.3% on a year-over-year basis. On average, sell-side analysts forecast that PulteGroup, Inc. will post 3.58 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 3rd. Stockholders of record on Tuesday, December 18th will be paid a dividend of $0.11 per share. The ex-dividend date is Monday, December 17th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.68%. This is a boost from PulteGroup’s previous quarterly dividend of $0.09. PulteGroup’s dividend payout ratio is currently 16.44%.

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About PulteGroup

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company is involved in the acquisition and development of land primarily for residential purposes; and the construction of housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods names.

Further Reading: What is the Coverage Ratio?

Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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