Brooklyn Investment Group Buys New Stake in PulteGroup, Inc. (NYSE:PHM)

Brooklyn Investment Group purchased a new position in PulteGroup, Inc. (NYSE:PHM) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,031 shares of the construction company’s stock, valued at approximately $148,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. WR Wealth Planners LLC lifted its holdings in shares of PulteGroup by 54.7% during the 2nd quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock worth $26,000 after acquiring an additional 82 shares during the period. Fortitude Family Office LLC lifted its stake in shares of PulteGroup by 115.1% during the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock valued at $27,000 after acquiring an additional 99 shares during the period. LRI Investments LLC bought a new position in PulteGroup in the first quarter valued at about $28,000. Transcendent Capital Group LLC bought a new position in PulteGroup in the third quarter valued at about $29,000. Finally, Rothschild Investment LLC bought a new position in PulteGroup in the second quarter valued at about $31,000. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Stock Up 0.7 %

Shares of PulteGroup stock opened at $136.53 on Thursday. The business’s 50 day simple moving average is $136.51 and its 200 day simple moving average is $126.25. PulteGroup, Inc. has a 52-week low of $86.59 and a 52-week high of $149.47. The firm has a market cap of $28.00 billion, a PE ratio of 10.07, a P/E/G ratio of 0.56 and a beta of 1.63. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73.

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

PulteGroup Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.64%. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, December 17th. PulteGroup’s dividend payout ratio (DPR) is currently 6.49%.

Analysts Set New Price Targets

PHM has been the topic of several recent research reports. Bank of America raised their price target on PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Wedbush reiterated a “neutral” rating and issued a $115.00 price target on shares of PulteGroup in a report on Tuesday, October 22nd. UBS Group raised their price target on PulteGroup from $148.00 to $154.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. BTIG Research increased their target price on PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company increased their target price on PulteGroup from $150.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $145.00.

PulteGroup Company 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.