ClariVest Asset Management LLC Lowers Stock Position in PulteGroup, Inc. (NYSE:PHM)

ClariVest Asset Management LLC cut its position in shares of PulteGroup, Inc. (NYSE:PHMGet Rating) by 13.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 251,999 shares of the construction company’s stock after selling 38,585 shares during the period. ClariVest Asset Management LLC owned 0.11% of PulteGroup worth $9,987,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in PHM. J.W. Cole Advisors Inc. purchased a new stake in PulteGroup during the first quarter worth $28,000. Adirondack Trust Co. acquired a new position in PulteGroup during the second quarter worth $37,000. Larson Financial Group LLC raised its position in PulteGroup by 130.2% during the second quarter. Larson Financial Group LLC now owns 953 shares of the construction company’s stock worth $38,000 after acquiring an additional 539 shares during the period. PSI Advisors LLC raised its position in PulteGroup by 18.5% during the second quarter. PSI Advisors LLC now owns 1,600 shares of the construction company’s stock worth $63,000 after acquiring an additional 250 shares during the period. Finally, Zions Bancorporation N.A. raised its position in PulteGroup by 115.2% during the first quarter. Zions Bancorporation N.A. now owns 1,595 shares of the construction company’s stock worth $67,000 after acquiring an additional 854 shares during the period. 89.34% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Trading Up 2.2 %

PulteGroup stock traded up $0.97 during midday trading on Thursday, hitting $44.70. 1,806,771 shares of the stock were exchanged, compared to its average volume of 2,531,987. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $10.18 billion, a price-to-earnings ratio of 4.53, a PEG ratio of 2.49 and a beta of 1.28. The stock’s 50-day simple moving average is $39.77 and its 200 day simple moving average is $41.46. PulteGroup, Inc. has a fifty-two week low of $35.03 and a fifty-two week high of $58.09.

PulteGroup (NYSE:PHMGet Rating) last announced its earnings results on Tuesday, October 25th. The construction company reported $2.69 earnings per share for the quarter, missing the consensus estimate of $2.73 by ($0.04). The company had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $4.04 billion. PulteGroup had a return on equity of 30.80% and a net margin of 15.56%. On average, equities analysts anticipate that PulteGroup, Inc. will post 10.15 EPS for the current year.

PulteGroup Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 4th. Shareholders of record on Thursday, September 22nd were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend was Wednesday, September 21st. PulteGroup’s dividend payout ratio (DPR) is presently 6.09%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of PulteGroup from $43.50 to $65.00 in a research report on Tuesday. StockNews.com cut shares of PulteGroup from a “buy” rating to a “hold” rating in a research report on Tuesday, October 11th. Wedbush reduced their target price on shares of PulteGroup to $54.00 and set an “outperform” rating for the company in a research report on Wednesday, July 27th. BTIG Research reduced their target price on shares of PulteGroup from $52.00 to $50.00 in a research report on Wednesday, October 26th. Finally, Citigroup increased their target price on shares of PulteGroup to $51.00 in a research report on Thursday, October 13th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.50.

PulteGroup Company 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.

Further Reading

Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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