PNC Financial Services Group Inc. increased its stake in PulteGroup, Inc. (NYSE:PHM – Free Report) by 27.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,235 shares of the construction company’s stock after purchasing an additional 7,040 shares during the period. PNC Financial Services Group Inc.’s holdings in PulteGroup were worth $2,387,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Friedenthal Financial raised its position in shares of PulteGroup by 1.6% during the 3rd quarter. Friedenthal Financial now owns 10,132 shares of the construction company’s stock valued at $750,000 after acquiring an additional 158 shares during the last quarter. Cetera Advisor Networks LLC grew its holdings in shares of PulteGroup by 1.0% in the 2nd quarter. Cetera Advisor Networks LLC now owns 16,395 shares of the construction company’s stock valued at $1,274,000 after buying an additional 164 shares during the period. Private Trust Co. NA grew its holdings in shares of PulteGroup by 25.0% in the 3rd quarter. Private Trust Co. NA now owns 859 shares of the construction company’s stock valued at $64,000 after buying an additional 172 shares during the period. Advisor Partners II LLC grew its holdings in shares of PulteGroup by 1.5% in the 3rd quarter. Advisor Partners II LLC now owns 11,998 shares of the construction company’s stock valued at $888,000 after buying an additional 182 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of PulteGroup by 8.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,523 shares of the construction company’s stock valued at $115,000 after buying an additional 190 shares during the period. Institutional investors own 89.84% of the company’s stock.
Analyst Ratings Changes
PHM has been the subject of several research analyst reports. Wedbush reissued a “neutral” rating and issued a $85.00 price target on shares of PulteGroup in a report on Wednesday, January 31st. Wells Fargo & Company boosted their price target on shares of PulteGroup from $80.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, November 8th. Royal Bank of Canada boosted their price target on shares of PulteGroup from $103.00 to $106.00 and gave the company a “sector perform” rating in a report on Wednesday, January 31st. StockNews.com lowered shares of PulteGroup from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, The Goldman Sachs Group upped their target price on shares of PulteGroup from $91.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, January 11th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $102.31.
View Our Latest Report on PulteGroup
PulteGroup Trading Up 1.0 %
Shares of NYSE:PHM opened at $104.68 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.86 and a quick ratio of 0.86. The company’s 50-day moving average price is $103.69 and its two-hundred day moving average price is $88.65. The stock has a market capitalization of $22.20 billion, a PE ratio of 8.92, a price-to-earnings-growth ratio of 0.70 and a beta of 1.56. PulteGroup, Inc. has a one year low of $52.24 and a one year high of $110.75.
PulteGroup (NYSE:PHM – Get Free Report) last issued its earnings results on Tuesday, January 30th. The construction company reported $3.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.21 by $0.07. The company had revenue of $4.29 billion for the quarter, compared to analysts’ expectations of $4.47 billion. PulteGroup had a net margin of 16.20% and a return on equity of 25.97%. PulteGroup’s quarterly revenue was down 15.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.63 EPS. On average, equities analysts forecast that PulteGroup, Inc. will post 11.77 EPS for the current fiscal year.
PulteGroup Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 2nd. Stockholders of record on Friday, March 15th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.76%. PulteGroup’s payout ratio is 6.81%.
PulteGroup declared that its board has authorized a stock buyback plan on Tuesday, January 30th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 6.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
Insider Activity
In other news, VP Brien P. O’meara sold 2,000 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total value of $206,180.00. Following the sale, the vice president now directly owns 15,389 shares of the company’s stock, valued at approximately $1,586,452.01. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.83% of the stock is owned by insiders.
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.
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