PulteGroup, Inc. (NYSE:PHM) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp trimmed its holdings in PulteGroup, Inc. (NYSE:PHM) by 5.6% in the 4th quarter, HoldingsChannel reports. The fund owned 7,425 shares of the construction company’s stock after selling 439 shares during the quarter. Fifth Third Bancorp’s holdings in PulteGroup were worth $809,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PHM. Fortitude Family Office LLC grew 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 purchasing an additional 99 shares during the period. Transcendent Capital Group LLC acquired a new position in PulteGroup in the third quarter valued at about $29,000. JNBA Financial Advisors purchased a new position in PulteGroup during the third quarter worth about $43,000. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of PulteGroup by 1,059.3% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 313 shares of the construction company’s stock valued at $45,000 after acquiring an additional 286 shares during the last quarter. Finally, Grove Bank & Trust raised its stake in shares of PulteGroup by 18.4% in the 3rd quarter. Grove Bank & Trust now owns 463 shares of the construction company’s stock valued at $66,000 after acquiring an additional 72 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Trading Down 1.9 %

PHM opened at $112.90 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73. PulteGroup, Inc. has a one year low of $100.24 and a one year high of $149.47. The company has a market cap of $23.15 billion, a P/E ratio of 8.33, a PEG ratio of 0.46 and a beta of 1.67. The business’s 50-day simple moving average is $118.53 and its 200-day simple moving average is $127.58.

PulteGroup Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend was Tuesday, December 17th. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. PulteGroup’s payout ratio is currently 6.49%.

Analysts Set New Price Targets

PHM has been the subject of a number of research analyst reports. Oppenheimer lowered their price objective on shares of PulteGroup from $168.00 to $165.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Evercore ISI lowered their price target on PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. StockNews.com downgraded PulteGroup from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. Seaport Res Ptn cut PulteGroup from a “hold” rating to a “strong sell” rating in a report on Monday. Finally, BTIG Research lifted their target price on PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $142.29.

PulteGroup Company 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.