Bayview Asset Management LLC Sells 4,957 Shares of PulteGroup, Inc. $PHM

Bayview Asset Management LLC lowered its stake in PulteGroup, Inc. (NYSE:PHM) by 34.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 9,330 shares of the construction company’s stock after selling 4,957 shares during the period. PulteGroup accounts for approximately 0.4% of Bayview Asset Management LLC’s holdings, making the stock its 17th largest holding. Bayview Asset Management LLC’s holdings in PulteGroup were worth $984,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PHM. Fidelis Capital Partners LLC lifted its stake in shares of PulteGroup by 1.0% in the 2nd quarter. Fidelis Capital Partners LLC now owns 8,760 shares of the construction company’s stock valued at $924,000 after purchasing an additional 85 shares during the last quarter. Cooper Financial Group raised its holdings in PulteGroup by 1.4% during the 2nd quarter. Cooper Financial Group now owns 6,697 shares of the construction company’s stock valued at $706,000 after buying an additional 92 shares during the period. Tocqueville Asset Management L.P. raised its holdings in PulteGroup by 2.0% during the 1st quarter. Tocqueville Asset Management L.P. now owns 5,062 shares of the construction company’s stock valued at $520,000 after buying an additional 100 shares during the period. Leavell Investment Management Inc. lifted its position in PulteGroup by 4.7% in the second quarter. Leavell Investment Management Inc. now owns 2,260 shares of the construction company’s stock worth $239,000 after buying an additional 102 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in PulteGroup by 0.9% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 11,635 shares of the construction company’s stock worth $1,227,000 after buying an additional 103 shares during the period. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PHM. Weiss Ratings reissued a “hold (c+)” rating on shares of PulteGroup in a research note on Tuesday, November 25th. Evercore ISI cut their price target on shares of PulteGroup from $154.00 to $134.00 and set an “in-line” rating on the stock in a report on Wednesday, October 22nd. Zacks Research raised shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Friday, August 29th. Bank of America decreased their price objective on shares of PulteGroup from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, October 10th. Finally, Wedbush restated an “outperform” rating and set a $150.00 target price on shares of PulteGroup in a research report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.67.

PulteGroup Stock Performance

Shares of PulteGroup stock opened at $127.19 on Monday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.13. The stock’s fifty day moving average price is $123.56 and its 200-day moving average price is $118.32. The firm has a market cap of $24.79 billion, a P/E ratio of 9.79, a P/E/G ratio of 0.95 and a beta of 1.25. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $142.11.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, October 21st. The construction company reported $2.96 earnings per share for the quarter, topping analysts’ consensus estimates of $2.86 by $0.10. The company had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.31 billion. PulteGroup had a net margin of 14.93% and a return on equity of 19.58%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.35 earnings per share. On average, equities research analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 16th will be paid a dividend of $0.26 per share. This is a boost from PulteGroup’s previous quarterly dividend of $0.22. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Tuesday, December 16th. PulteGroup’s payout ratio is 8.01%.

About PulteGroup

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. It acquires and develops land primarily for residential purposes; and constructs housing on such land. The company also offers various home designs, including single-family detached, townhomes, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, John Wieland Homes and Neighborhoods, and American West brand names.