Quadrant Capital Group LLC Decreases Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Posted by Defense World Staff on Feb 24th, 2023

Quadrant Capital Group LLC reduced its stake in PulteGroup, Inc. (NYSE:PHM – Get Rating) by 23.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,267 shares of the construction company’s stock after selling 392 shares during the quarter. Quadrant Capital Group LLC’s holdings in PulteGroup were worth $48,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. WINTON GROUP Ltd purchased a new position in shares of PulteGroup in the 3rd quarter valued at approximately $593,000. ExodusPoint Capital Management LP acquired a new position in PulteGroup in the 3rd quarter worth approximately $1,332,000. Dimensional Fund Advisors LP increased its holdings in PulteGroup by 1.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,666,621 shares of the construction company’s stock worth $250,024,000 after buying an additional 72,490 shares during the period. Seven Eight Capital LP acquired a new position in PulteGroup in the 3rd quarter worth approximately $508,000. Finally, Goodman Financial Corp grew its stake in shares of PulteGroup by 9.4% during the 3rd quarter. Goodman Financial Corp now owns 218,602 shares of the construction company’s stock worth $8,198,000 after purchasing an additional 18,793 shares during the period. 88.07% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Stock Up 1.7 %

Shares of NYSE:PHM opened at $54.00 on Friday. The business has a 50-day moving average price of $51.23 and a 200 day moving average price of $44.75. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $12.18 billion, a price-to-earnings ratio of 4.86, a PEG ratio of 0.45 and a beta of 1.33. PulteGroup, Inc. has a 12-month low of $35.03 and a 12-month high of $60.89.

PulteGroup (NYSE:PHM – Get Rating) last posted its earnings results on Tuesday, January 31st. The construction company reported $3.63 earnings per share for the quarter, topping the consensus estimate of $2.88 by $0.75. PulteGroup had a return on equity of 31.85% and a net margin of 16.13%. The firm had revenue of $5.17 billion during the quarter, compared to analysts’ expectations of $4.59 billion. During the same quarter in the previous year, the business earned $2.51 earnings per share. The firm’s revenue was up 18.7% compared to the same quarter last year. Sell-side analysts expect that PulteGroup, Inc. will post 7.34 EPS for the current year.

PulteGroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 4th. Stockholders of record on Monday, March 20th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date is Friday, March 17th. PulteGroup’s payout ratio is currently 5.77%.

Insider Activity

In related news, VP Brien P. O’meara sold 4,924 shares of the company’s stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $60.00, for a total transaction of $295,440.00. Following the transaction, the vice president now owns 17,308 shares of the company’s stock, valued at $1,038,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other PulteGroup news, VP Brien P. O’meara sold 4,924 shares of the company’s stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $60.00, for a total value of $295,440.00. Following the sale, the vice president now owns 17,308 shares of the company’s stock, valued at $1,038,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP John J. Chadwick sold 29,817 shares of the company’s stock in a transaction on Tuesday, February 14th. The shares were sold at an average price of $56.63, for a total value of $1,688,536.71. Following the completion of the sale, the vice president now directly owns 87,428 shares in the company, valued at approximately $4,951,047.64. The disclosure for this sale can be found here. Corporate insiders own 0.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. StockNews.com raised shares of PulteGroup from a “hold” rating to a “buy” rating in a research note on Wednesday, February 1st. Wedbush increased their target price on PulteGroup from $47.00 to $57.00 and gave the company a “neutral” rating in a research report on Wednesday, February 1st. The Goldman Sachs Group increased their target price on PulteGroup from $45.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, January 12th. Credit Suisse Group increased their target price on PulteGroup from $52.00 to $61.00 and gave the company an “outperform” rating in a research report on Wednesday, February 1st. Finally, JPMorgan Chase & Co. increased their target price on PulteGroup from $65.00 to $74.00 and gave the company an “overweight” rating in a research report on Thursday, February 2nd. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, PulteGroup presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.69.

PulteGroup Company Profile

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PulteGroup, Inc engages in the homebuilding business. The firm is also involved in mortgage banking and title and insurance brokerage operations. It operates through the Homebuilding and Financial services business segments. The Homebuilding segment includes operations from Connecticut, Maryland, Massachusetts, New Jersey, New York, Pennsylvania, Virginia, Georgia, North Carolina, South Carolina, Tennessee, Florida, Illinois, Indiana, Kentucky, Michigan, Minnesota, Missouri, Ohio, Texas, Arizona, California, Nevada, New Mexico, and Washington.