Private Trust Co. NA Buys 3,042 Shares of PulteGroup, Inc. (NYSE:PHM)

Private Trust Co. NA raised its position in shares of PulteGroup, Inc. (NYSE:PHM) by 257.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,223 shares of the construction company’s stock after purchasing an additional 3,042 shares during the period. Private Trust Co. NA’s holdings in PulteGroup were worth $606,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of PHM. Fortitude Family Office LLC boosted its holdings in shares of PulteGroup by 115.1% in the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock worth $27,000 after acquiring an additional 99 shares during the period. Transcendent Capital Group LLC purchased a new position in PulteGroup during the 3rd quarter valued at about $29,000. WR Wealth Planners LLC increased its position in shares of PulteGroup by 54.7% during the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock valued at $26,000 after buying an additional 82 shares during the period. LRI Investments LLC purchased a new stake in shares of PulteGroup in the first quarter worth about $28,000. Finally, Rothschild Investment LLC bought a new position in shares of PulteGroup in the second quarter valued at approximately $31,000. 89.90% of the stock is owned by institutional investors.

PulteGroup Stock Performance

PulteGroup stock opened at $135.63 on Wednesday. PulteGroup, Inc. has a 1-year low of $86.59 and a 1-year high of $149.47. The firm has a market cap of $27.82 billion, a P/E ratio of 10.00, a P/E/G ratio of 0.56 and a beta of 1.63. 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 firm has a 50-day moving average of $136.60 and a 200-day moving average of $126.17.

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

PulteGroup Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wolfe Research downgraded shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Wells Fargo & Company lifted their price target on PulteGroup from $150.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Wedbush restated a “neutral” rating and issued a $115.00 price objective on shares of PulteGroup in a research report on Tuesday, October 22nd. BTIG Research boosted their price target on shares of PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. 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 equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.