B. Riley Wealth Advisors Inc. Cuts Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

B. Riley Wealth Advisors Inc. reduced its stake in PulteGroup, Inc. (NYSE:PHM) by 4.9% during the third quarter, HoldingsChannel.com reports. The fund owned 3,220 shares of the construction company’s stock after selling 165 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in PulteGroup were worth $462,000 at the end of the most recent reporting period.

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

PulteGroup Trading Down 2.2 %

Shares of NYSE PHM opened at $108.89 on Friday. PulteGroup, Inc. has a twelve month low of $99.03 and a twelve month high of $149.47. The business has a fifty day simple moving average of $130.99 and a two-hundred day simple moving average of $127.10. The firm has a market cap of $22.33 billion, a PE ratio of 8.03, a price-to-earnings-growth ratio of 0.48 and a beta of 1.62. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.14.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.25. The firm had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.27 billion. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The company’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.90 EPS. Analysts expect that PulteGroup, Inc. will post 12.94 earnings per share for the current fiscal year.

PulteGroup Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th will be issued a $0.22 dividend. The ex-dividend date is Tuesday, December 17th. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.81%. PulteGroup’s dividend payout ratio (DPR) is currently 6.49%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PHM. BTIG Research upped their price target on shares of PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their target price on shares of PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a research report on Friday, December 13th. Oppenheimer dropped their price target on PulteGroup from $168.00 to $165.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Bank of America upped 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. Finally, Wells Fargo & Company dropped their target price on PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a report on Tuesday. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, PulteGroup has a consensus rating of “Moderate Buy” and an average target price of $142.71.

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.