Synovus Financial Corp Lowers Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Synovus Financial Corp reduced its stake in PulteGroup, Inc. (NYSE:PHM) by 8.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,568 shares of the construction company’s stock after selling 1,057 shares during the quarter. Synovus Financial Corp’s holdings in PulteGroup were worth $1,660,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. WR Wealth Planners LLC raised its stake in PulteGroup by 54.7% during the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock valued at $26,000 after buying an additional 82 shares during the last quarter. Fortitude Family Office LLC increased its holdings in shares of PulteGroup by 115.1% during the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock valued at $27,000 after acquiring an additional 99 shares in the last quarter. Transcendent Capital Group LLC purchased a new position in shares of PulteGroup in the 3rd quarter worth about $29,000. Rothschild Investment LLC purchased a new stake in PulteGroup during the 2nd quarter valued at about $31,000. Finally, Candriam S.C.A. purchased a new stake in PulteGroup during the 2nd quarter valued at about $33,000. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Trading Down 1.9 %

Shares of PulteGroup stock opened at $118.42 on Monday. PulteGroup, Inc. has a 1-year low of $99.03 and a 1-year high of $149.47. The company’s fifty day simple moving average is $133.08 and its 200-day simple moving average is $127.34. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a market capitalization of $24.29 billion, a PE ratio of 8.73, a P/E/G ratio of 0.48 and a beta of 1.62.

PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.25. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The company had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.27 billion. During the same period in the previous year, the business earned $2.90 earnings per share. PulteGroup’s quarterly revenue was up 11.8% compared to the same quarter last year. As a group, equities analysts anticipate that PulteGroup, Inc. will post 12.94 earnings per share for the current year.

PulteGroup Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th will be paid a dividend of $0.22 per share. This is a boost from PulteGroup’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.88 dividend on an annualized basis and a yield of 0.74%. PulteGroup’s dividend payout ratio (DPR) is presently 5.90%.

Analyst Ratings Changes

Several research analysts have recently issued reports on PHM shares. Barclays reiterated an “equal weight” rating and issued a $140.00 target price (down previously from $150.00) on shares of PulteGroup in a research note on Wednesday, December 11th. Wedbush reaffirmed a “neutral” rating and issued a $115.00 price objective on shares of PulteGroup in a research report on Tuesday, October 22nd. Wells Fargo & Company lifted their target price on PulteGroup from $150.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Evercore ISI lowered their price target on PulteGroup from $198.00 to $195.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Finally, Bank of America increased their price objective on PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.50.

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.