Segment Wealth Management LLC Buys New Stake in PulteGroup, Inc. (NYSE:PHM)

Segment Wealth Management LLC purchased a new position in PulteGroup, Inc. (NYSE:PHM) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 88,292 shares of the construction company’s stock, valued at approximately $12,673,000.

Other hedge funds also recently bought and sold shares of the company. Swedbank AB purchased a new stake in shares of PulteGroup during the 1st quarter valued at about $68,985,000. Hsbc Holdings PLC raised its position in PulteGroup by 19.6% during the second 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 period. Pacer Advisors Inc. lifted its stake in shares of 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. Allspring Global Investments Holdings LLC boosted its holdings in shares of PulteGroup by 35.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 861,487 shares of the construction company’s stock worth $123,649,000 after purchasing an additional 223,841 shares during the period. Finally, Janney Montgomery Scott LLC increased 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 valued at $46,837,000 after purchasing an additional 219,609 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Down 7.3 %

NYSE:PHM opened at $133.78 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market cap of $27.76 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 0.61 and a beta of 1.62. The company has a 50-day moving average of $136.45 and a 200 day moving average of $122.87. PulteGroup, Inc. has a 1-year low of $68.80 and a 1-year high of $149.47.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, July 23rd. The construction company reported $3.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.56. The firm 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 company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the firm earned $3.00 earnings per share. As a group, research analysts anticipate that PulteGroup, Inc. will post 12.9 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 17th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, September 17th. This represents a $0.80 annualized dividend and a yield of 0.60%. PulteGroup’s dividend payout ratio (DPR) is presently 6.10%.

Insider Activity

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

Analyst Upgrades and Downgrades

PHM has been the subject of a number of analyst reports. Evercore ISI raised their price target on PulteGroup from $183.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Royal Bank of Canada upped their price target on shares of PulteGroup from $113.00 to $120.00 and gave the company a “sector perform” rating in a report on Wednesday, July 24th. Barclays raised their price objective on shares of PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Wells Fargo & Company upped 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. Finally, Bank of America raised their price target on PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. 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 MarketBeat, PulteGroup presently has an average rating of “Moderate Buy” and an average price target of $141.14.

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.