PulteGroup, Inc. (NYSE:PHM) Shares Sold by Truist Financial Corp

Truist Financial Corp lowered its holdings in PulteGroup, Inc. (NYSE:PHMGet Rating) by 28.2% in the third quarter, HoldingsChannel reports. The firm owned 79,799 shares of the construction company’s stock after selling 31,279 shares during the quarter. Truist Financial Corp’s holdings in PulteGroup were worth $2,993,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PHM. Greenhaven Associates Inc. acquired a new position in shares of PulteGroup in the second quarter valued at approximately $168,140,000. AQR Capital Management LLC grew its holdings in PulteGroup by 109.1% during the 2nd quarter. AQR Capital Management LLC now owns 3,780,022 shares of the construction company’s stock worth $147,307,000 after acquiring an additional 1,972,574 shares in the last quarter. First Trust Advisors LP grew its holdings in PulteGroup by 29.4% during the 1st quarter. First Trust Advisors LP now owns 4,850,407 shares of the construction company’s stock worth $203,232,000 after acquiring an additional 1,101,565 shares in the last quarter. Invesco Ltd. grew its holdings in PulteGroup by 36.3% during the 1st quarter. Invesco Ltd. now owns 3,651,100 shares of the construction company’s stock worth $152,982,000 after acquiring an additional 972,310 shares in the last quarter. Finally, Prudential Financial Inc. grew its holdings in PulteGroup by 123.3% during the 1st quarter. Prudential Financial Inc. now owns 714,433 shares of the construction company’s stock worth $29,934,000 after acquiring an additional 394,498 shares in the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

PulteGroup Stock Up 0.9 %

PHM stock opened at $50.74 on Friday. The company has a fifty day moving average price of $45.01 and a 200 day moving average price of $42.52. PulteGroup, Inc. has a 12 month low of $35.03 and a 12 month high of $57.37. The company has a market cap of $11.56 billion, a price-to-earnings ratio of 5.15, a price-to-earnings-growth ratio of 4.17 and a beta of 1.24. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.26 and a quick ratio of 0.26.

PulteGroup (NYSE:PHMGet Rating) last released its quarterly earnings results on Tuesday, October 25th. The construction company reported $2.69 EPS for the quarter, missing the consensus estimate of $2.73 by ($0.04). The business had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $4.04 billion. PulteGroup had a net margin of 15.56% and a return on equity of 30.80%. Sell-side analysts expect that PulteGroup, Inc. will post 10.11 earnings per share for the current year.

PulteGroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 3rd. Shareholders of record on Wednesday, December 14th were paid a $0.16 dividend. This is a boost from PulteGroup’s previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend was Tuesday, December 13th. PulteGroup’s payout ratio is currently 6.49%.

Analyst Ratings Changes

Several research analysts have commented on PHM shares. BTIG Research boosted their price target on shares of PulteGroup from $50.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, December 6th. Citigroup boosted their price target on shares of PulteGroup from $49.00 to $56.00 in a report on Tuesday, January 10th. KeyCorp boosted their price target on shares of PulteGroup from $47.00 to $51.00 and gave the stock an “overweight” rating in a report on Monday, November 14th. The Goldman Sachs Group boosted their price objective on shares of PulteGroup from $45.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Raymond James downgraded shares of PulteGroup from a “strong-buy” rating to a “market perform” rating in a research report on Friday, October 21st. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, PulteGroup has a consensus rating of “Moderate Buy” and a consensus target price of $54.08.

PulteGroup Profile

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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, American West, and John Wieland Homes and Neighborhoods brand names.

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Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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