Northwestern Mutual Wealth Management Co. Sells 4,916 Shares of PulteGroup, Inc. $PHM

Northwestern Mutual Wealth Management Co. decreased its position in PulteGroup, Inc. (NYSE:PHM) by 20.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,551 shares of the construction company’s stock after selling 4,916 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in PulteGroup were worth $2,545,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PHM. National Pension Service increased its position in PulteGroup by 3.8% during the 4th quarter. National Pension Service now owns 507,443 shares of the construction company’s stock valued at $59,503,000 after purchasing an additional 18,455 shares during the period. Qsemble Capital Management LP bought a new position in PulteGroup in the fourth quarter worth about $7,205,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in PulteGroup in the fourth quarter worth about $15,950,000. River Street Advisors LLC lifted its holdings in PulteGroup by 94.6% in the first quarter. River Street Advisors LLC now owns 18,208 shares of the construction company’s stock worth $2,141,000 after buying an additional 8,851 shares during the period. Finally, Norges Bank bought a new stake in PulteGroup during the 4th quarter valued at approximately $466,653,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

PulteGroup Trading Up 0.3%

NYSE:PHM opened at $124.68 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.14. PulteGroup, Inc. has a 12 month low of $108.49 and a 12 month high of $144.49. The company has a market cap of $23.37 billion, a PE ratio of 12.74, a price-to-earnings-growth ratio of 1.54 and a beta of 1.19. The company has a 50 day simple moving average of $128.73 and a two-hundred day simple moving average of $125.13.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Wednesday, July 22nd. The construction company reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.12. The firm had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $3.94 billion. PulteGroup had a return on equity of 15.21% and a net margin of 11.62%.The company’s revenue was down 9.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.03 EPS. Research analysts forecast that PulteGroup, Inc. will post 10.12 earnings per share for the current year.

PulteGroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Tuesday, September 15th. PulteGroup’s payout ratio is currently 10.62%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PHM shares. UBS Group reaffirmed a “buy” rating and issued a $166.00 price target on shares of PulteGroup in a research note on Thursday, July 23rd. Citigroup reaffirmed a “market outperform” rating on shares of PulteGroup in a research report on Tuesday, August 18th. Wells Fargo & Company lifted their price target on shares of PulteGroup from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Oppenheimer reissued an “outperform” rating on shares of PulteGroup in a research note on Tuesday, May 26th. Finally, Wolfe Research set a $129.00 price objective on shares of PulteGroup and gave the stock an “outperform” rating in a report on Monday, August 24th. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, PulteGroup currently has an average rating of “Moderate Buy” and an average price target of $142.20.

About PulteGroup

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.