Concord Asset Management LLC VA Increases Holdings in PulteGroup, Inc. (NYSE:PHM)

Concord Asset Management LLC VA boosted its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 6.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,158 shares of the construction company’s stock after purchasing an additional 329 shares during the period. Concord Asset Management LLC VA’s holdings in PulteGroup were worth $740,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Swedbank AB bought a new stake in PulteGroup during the 1st quarter valued at approximately $68,985,000. KBC Group NV boosted its position in PulteGroup by 1,020.0% during the 3rd quarter. KBC Group NV now owns 435,925 shares of the construction company’s stock valued at $62,568,000 after acquiring an additional 397,003 shares in the last quarter. Hsbc Holdings PLC boosted its position in PulteGroup by 19.6% during the 2nd quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock valued at $168,254,000 after acquiring an additional 250,937 shares in the last quarter. Pacer Advisors Inc. boosted its position in PulteGroup by 8.6% during the 2nd quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock valued at $326,864,000 after acquiring an additional 235,826 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in PulteGroup by 35.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 861,487 shares of the construction company’s stock valued at $123,649,000 after acquiring an additional 223,841 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Performance

PHM stock opened at $128.89 on Friday. The stock has a market capitalization of $26.43 billion, a PE ratio of 9.51, a price-to-earnings-growth ratio of 0.52 and a beta of 1.63. PulteGroup, Inc. has a 12-month low of $86.59 and a 12-month high of $149.47. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.14. The stock’s 50 day simple moving average is $137.29 and its 200 day simple moving average is $125.37.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, beating 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 return on equity of 25.30% and a net margin of 16.64%. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.90 EPS. As a group, research analysts forecast that PulteGroup, Inc. will post 12.94 earnings per share for the current fiscal year.

PulteGroup Increases Dividend

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

Analysts Set New Price Targets

PHM has been the topic of several research reports. UBS Group lifted their price objective on PulteGroup from $148.00 to $154.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Evercore ISI cut their price objective on PulteGroup from $198.00 to $195.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Barclays boosted their price target on PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Raymond James boosted their price target on PulteGroup from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, BTIG Research boosted their price target on PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, PulteGroup has a consensus rating of “Moderate Buy” and a consensus price target of $145.00.

Insider Buying and Selling at PulteGroup

In other PulteGroup news, CFO Robert Oshaughnessy sold 71,007 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $134.83, for a total transaction of $9,573,873.81. Following the completion of the sale, the chief financial officer now directly owns 89,323 shares in the company, valued at approximately $12,043,420.09. The trade was a 44.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas J. Folliard sold 19,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $131.14, for a total transaction of $2,491,660.00. Following the sale, the director now owns 45,230 shares of the company’s stock, valued at approximately $5,931,462.20. This represents a 29.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.83% of the company’s stock.

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.