PulteGroup, Inc. (NYSE:PHM) Shares Bought by Independent Advisor Alliance

Independent Advisor Alliance lifted its holdings in PulteGroup, Inc. (NYSE:PHM) by 47.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,133 shares of the construction company’s stock after purchasing an additional 2,615 shares during the period. Independent Advisor Alliance’s holdings in PulteGroup were worth $1,167,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PHM. Swedbank AB acquired a new position in PulteGroup in the first quarter worth approximately $68,985,000. Westfield Capital Management Co. LP bought a new stake in shares of PulteGroup during the 3rd quarter worth $66,485,000. KBC Group NV boosted its stake in shares of PulteGroup by 1,020.0% during the 3rd quarter. KBC Group NV now owns 435,925 shares of the construction company’s stock worth $62,568,000 after acquiring an additional 397,003 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of PulteGroup by 19.6% in the 2nd quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock worth $168,254,000 after acquiring an additional 250,937 shares during the last quarter. Finally, Pacer Advisors Inc. raised its position in shares of PulteGroup by 8.6% during the second quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock worth $326,864,000 after purchasing an additional 235,826 shares during the period. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Stock Performance

Shares of NYSE PHM opened at $135.63 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.73. PulteGroup, Inc. has a one year low of $86.59 and a one year high of $149.47. The business’s 50-day moving average price is $136.60 and its two-hundred day moving average price is $126.17. The company has a market capitalization of $27.82 billion, a P/E ratio of 10.00, a price-to-earnings-growth ratio of 0.56 and a beta of 1.63.

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

PulteGroup Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.65%. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Tuesday, December 17th. PulteGroup’s payout ratio is currently 5.90%.

Analysts Set New Price Targets

PHM has been the subject of a number of recent analyst reports. Wolfe Research lowered PulteGroup from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. Wells Fargo & Company raised their target price on shares of PulteGroup from $150.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. UBS Group boosted their price target on shares of PulteGroup from $148.00 to $154.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Bank of America raised their price objective on shares of PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Finally, Oppenheimer lowered their price objective on shares of PulteGroup from $168.00 to $165.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $145.00.

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.