Morse Asset Management Inc Purchases 2,020 Shares of PulteGroup, Inc. (NYSE:PHM)

Morse Asset Management Inc lifted its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 26.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,735 shares of the construction company’s stock after acquiring an additional 2,020 shares during the quarter. Morse Asset Management Inc’s holdings in PulteGroup were worth $1,397,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. WR Wealth Planners LLC grew its position in shares of PulteGroup by 54.7% in the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock valued at $26,000 after purchasing an additional 82 shares in the last quarter. Fortitude Family Office LLC increased its holdings in PulteGroup by 115.1% during the 3rd 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 bought a new position in shares of PulteGroup in the third quarter worth $29,000. Rothschild Investment LLC bought a new position in PulteGroup in the 2nd quarter worth about $31,000. Finally, Candriam S.C.A. bought a new stake in shares of PulteGroup during the 2nd quarter valued at about $33,000. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Trading Down 0.9 %

Shares of NYSE PHM opened at $133.98 on Wednesday. The stock has a market capitalization of $27.48 billion, a P/E ratio of 9.88, a PEG ratio of 0.55 and a beta of 1.62. PulteGroup, Inc. has a 1-year low of $89.81 and a 1-year high of $149.47. The business’s 50 day moving average is $135.85 and its two-hundred day moving average is $126.77. 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 (NYSE:PHM) last issued 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 net margin of 16.64% and a return on equity of 25.30%. The company had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.27 billion. During the same period in the prior year, the firm posted $2.90 EPS. The firm’s revenue was up 11.8% compared to the same quarter last year. As a group, research analysts expect that PulteGroup, Inc. will post 12.94 EPS for the current year.

PulteGroup Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th will be issued a $0.22 dividend. The ex-dividend date is Tuesday, December 17th. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.66%. PulteGroup’s dividend payout ratio (DPR) is currently 5.90%.

Analyst Upgrades and Downgrades

PHM has been the subject of several research reports. Wells Fargo & Company upped their target price on shares of PulteGroup from $150.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Wolfe Research downgraded PulteGroup from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. UBS Group lifted their price target on shares of PulteGroup from $148.00 to $154.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Oppenheimer reduced their target price on PulteGroup from $168.00 to $165.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Finally, Bank of America increased 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. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $145.00.

About PulteGroup

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.