PulteGroup, Inc. (NYSE:PHM) Stock Position Increased by Wedmont Private Capital

Wedmont Private Capital boosted its position in PulteGroup, Inc. (NYSE:PHM) by 4.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,940 shares of the construction company’s stock after purchasing an additional 119 shares during the quarter. Wedmont Private Capital’s holdings in PulteGroup were worth $410,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PHM. Swedbank AB bought a new stake in PulteGroup in the 1st quarter valued at about $68,985,000. Hsbc Holdings PLC lifted its position in PulteGroup by 19.6% in the 2nd quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock valued at $168,254,000 after purchasing an additional 250,937 shares during the last quarter. Pacer Advisors Inc. lifted its position in PulteGroup by 8.6% in the 2nd quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock valued at $326,864,000 after purchasing an additional 235,826 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of PulteGroup by 130.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 388,298 shares of the construction company’s stock worth $46,837,000 after buying an additional 219,609 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of PulteGroup by 40.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 733,804 shares of the construction company’s stock worth $88,511,000 after buying an additional 212,837 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Stock Performance

PulteGroup stock opened at $139.20 on Friday. The firm’s 50 day simple moving average is $133.46 and its 200-day simple moving average is $121.53. The company has a market cap of $28.89 billion, a P/E ratio of 10.62, a price-to-earnings-growth ratio of 0.57 and a beta of 1.62. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.76 and a quick ratio of 0.76. PulteGroup, Inc. has a fifty-two week low of $68.80 and a fifty-two week high of $145.84.

PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, July 23rd. The construction company reported $3.83 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.56. The business had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.49 billion. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the firm posted $3.00 earnings per share. As a group, equities research analysts predict that PulteGroup, Inc. will post 12.9 EPS for the current year.

PulteGroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Tuesday, September 17th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend was Tuesday, September 17th. PulteGroup’s dividend payout ratio is currently 6.10%.

Analyst Ratings Changes

PHM has been the topic of a number of recent analyst reports. Citigroup dropped their price target on shares of PulteGroup from $129.00 to $117.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 2nd. Bank of America boosted their price target on shares of PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Raymond James boosted their price target on shares of PulteGroup from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. boosted their price target on shares of PulteGroup from $141.00 to $152.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, Wolfe Research cut shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $141.14.

Insider Buying and Selling

In related news, Director Thomas J. Folliard sold 19,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $131.14, for a total transaction of $2,491,660.00. Following the completion of the sale, the director now directly owns 45,230 shares in the company, valued at approximately $5,931,462.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other PulteGroup news, CFO Robert Oshaughnessy sold 28,993 shares of PulteGroup stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $129.29, for a total value of $3,748,504.97. Following the completion of the sale, the chief financial officer now directly owns 160,330 shares in the company, valued at $20,729,065.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas J. Folliard sold 19,000 shares of PulteGroup stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $131.14, for a total transaction of $2,491,660.00. Following the completion of the sale, the director now owns 45,230 shares of the company’s stock, valued at $5,931,462.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 119,000 shares of company stock worth $15,814,039. 0.83% of the stock is owned by company insiders.

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.