Fortitude Family Office LLC Grows Position in PulteGroup, Inc. (NYSE:PHM)

Fortitude Family Office LLC increased its position in PulteGroup, Inc. (NYSE:PHM) by 74.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 322 shares of the construction company’s stock after purchasing an additional 137 shares during the period. Fortitude Family Office LLC’s holdings in PulteGroup were worth $35,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Transcendent Capital Group LLC bought a new position in shares of PulteGroup in the 3rd quarter worth about $29,000. JNBA Financial Advisors purchased a new position in shares of PulteGroup during the third quarter valued at approximately $43,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of PulteGroup by 1,059.3% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 313 shares of the construction company’s stock worth $45,000 after purchasing an additional 286 shares in the last quarter. Grove Bank & Trust grew 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 worth $66,000 after buying an additional 72 shares during the last quarter. Finally, Quarry LP bought a new position in PulteGroup during the 2nd quarter valued at approximately $68,000. Institutional investors own 89.90% of the company’s stock.

PulteGroup Trading Down 2.6 %

PulteGroup stock opened at $107.62 on Friday. PulteGroup, Inc. has a 1 year low of $100.24 and a 1 year high of $149.47. The firm’s 50 day moving average price is $122.03 and its 200-day moving average price is $126.69. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a market cap of $22.07 billion, a P/E ratio of 7.94, a PEG ratio of 0.48 and a beta of 1.67.

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

PulteGroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th were paid a $0.22 dividend. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, December 17th. This represents a $0.88 dividend on an annualized basis and a yield of 0.82%. PulteGroup’s payout ratio is presently 6.49%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Oppenheimer dropped their target price on PulteGroup from $168.00 to $165.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Citigroup cut their price objective on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Wedbush raised shares of PulteGroup from a “neutral” rating to an “outperform” rating and set a $135.00 target price for the company in a report on Friday, January 3rd. Barclays reiterated an “equal weight” rating and set a $140.00 price target (down previously from $150.00) on shares of PulteGroup in a report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of PulteGroup from $162.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, December 13th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, PulteGroup presently has a consensus rating of “Moderate Buy” and an average target price of $143.86.

PulteGroup 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.