Golden State Wealth Management LLC Reduces Stock Holdings in PulteGroup, Inc. $PHM

Golden State Wealth Management LLC lowered its holdings in PulteGroup, Inc. (NYSE:PHM) by 55.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 409 shares of the construction company’s stock after selling 500 shares during the quarter. Golden State Wealth Management LLC’s holdings in PulteGroup were worth $43,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. WPG Advisers LLC acquired a new stake in PulteGroup during the 1st quarter worth about $25,000. Hager Investment Management Services LLC lifted its holdings in shares of PulteGroup by 33.3% in the 2nd quarter. Hager Investment Management Services LLC now owns 420 shares of the construction company’s stock valued at $44,000 after buying an additional 105 shares during the period. REAP Financial Group LLC boosted its stake in shares of PulteGroup by 188.1% in the second quarter. REAP Financial Group LLC now owns 533 shares of the construction company’s stock worth $56,000 after buying an additional 348 shares during the last quarter. Quarry LP grew its holdings in PulteGroup by 43.8% during the first quarter. Quarry LP now owns 571 shares of the construction company’s stock worth $59,000 after acquiring an additional 174 shares during the period. Finally, Reyes Financial Architecture Inc. raised its position in PulteGroup by 42.1% during the first quarter. Reyes Financial Architecture Inc. now owns 770 shares of the construction company’s stock valued at $79,000 after acquiring an additional 228 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Price Performance

Shares of NYSE PHM opened at $119.52 on Friday. The firm has a market cap of $23.30 billion, a PE ratio of 9.20, a PEG ratio of 0.95 and a beta of 1.25. The firm has a fifty day moving average of $128.22 and a 200 day moving average of $116.41. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.81 and a current ratio of 0.81. PulteGroup, Inc. has a one year low of $88.07 and a one year high of $142.11.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Tuesday, October 21st. The construction company reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.86 by $0.10. PulteGroup had a net margin of 14.93% and a return on equity of 19.58%. The business had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.31 billion. During the same period last year, the firm posted $3.35 earnings per share. The company’s revenue was down 1.6% compared to the same quarter last year. As a group, research analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Tuesday, September 16th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.7%. The ex-dividend date was Tuesday, September 16th. PulteGroup’s payout ratio is presently 6.77%.

Wall Street Analysts Forecast Growth

Several research firms have commented on PHM. JPMorgan Chase & Co. upped their price objective on PulteGroup from $121.00 to $123.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Oppenheimer increased their price target on shares of PulteGroup from $132.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, July 23rd. Raymond James Financial restated an “outperform” rating and set a $140.00 price target (up previously from $115.00) on shares of PulteGroup in a research report on Wednesday, July 23rd. Zacks Research raised shares of PulteGroup from a “strong sell” rating to a “hold” rating in a report on Friday, August 29th. Finally, Citigroup increased their target price on shares of PulteGroup from $132.00 to $143.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $133.67.

PulteGroup Profile

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.