Prospera Financial Services Inc Raises Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Prospera Financial Services Inc raised its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 4.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,654 shares of the construction company’s stock after purchasing an additional 438 shares during the period. Prospera Financial Services Inc’s holdings in PulteGroup were worth $1,386,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PHM. Grove Bank & Trust increased its holdings in PulteGroup by 18.4% during the 3rd quarter. Grove Bank & Trust now owns 463 shares of the construction company’s stock worth $66,000 after purchasing an additional 72 shares during the period. WR Wealth Planners LLC grew its position in PulteGroup by 54.7% during the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock valued at $26,000 after buying an additional 82 shares during the period. Cromwell Holdings LLC raised its position in PulteGroup by 17.2% during the third quarter. Cromwell Holdings LLC now owns 565 shares of the construction company’s stock worth $81,000 after acquiring an additional 83 shares during the period. Concord Wealth Partners lifted its holdings in PulteGroup by 1.7% in the 3rd quarter. Concord Wealth Partners now owns 5,002 shares of the construction company’s stock valued at $718,000 after purchasing an additional 83 shares in the last quarter. Finally, Lebenthal Global Advisors LLC raised its holdings in shares of PulteGroup by 3.9% during the 2nd quarter. Lebenthal Global Advisors LLC now owns 2,329 shares of the construction company’s stock worth $256,000 after acquiring an additional 87 shares during the period. Institutional investors own 89.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. 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 note on Thursday, September 19th. Wedbush reissued a “neutral” rating and issued a $115.00 target price on shares of PulteGroup in a report on Tuesday, October 22nd. BTIG Research boosted their target price on PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. increased their price target on shares of PulteGroup from $141.00 to $152.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, Wells Fargo & Company boosted their price objective on shares of PulteGroup from $150.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $145.00.

Insider Transactions at PulteGroup

In other news, Director Thomas J. Folliard sold 19,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total value of $2,491,660.00. Following the completion of the sale, the director now directly owns 45,230 shares in the company, valued at $5,931,462.20. This trade represents a 29.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.83% of the company’s stock.

PulteGroup Price Performance

Shares of NYSE PHM opened at $128.49 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average price is $136.94 and its two-hundred day moving average price is $125.69. PulteGroup, Inc. has a twelve month low of $86.59 and a twelve month high of $149.47. The company has a market cap of $26.35 billion, a PE ratio of 9.48, a price-to-earnings-growth ratio of 0.52 and a beta of 1.63.

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

PulteGroup Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th will be issued a dividend of $0.22 per share. This is a positive change from PulteGroup’s previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, December 17th. This represents a $0.88 annualized dividend and a yield of 0.68%. PulteGroup’s dividend payout ratio (DPR) is presently 5.90%.

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.