Gateway Advisory LLC Acquires 318 Shares of PulteGroup, Inc. (NYSE:PHM)

Gateway Advisory LLC grew its holdings in PulteGroup, Inc. (NYSE:PHM) by 5.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,200 shares of the construction company’s stock after buying an additional 318 shares during the period. Gateway Advisory LLC’s holdings in PulteGroup were worth $683,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Distillate Capital Partners LLC increased its holdings in shares of PulteGroup by 114,744.1% in the second quarter. Distillate Capital Partners LLC now owns 145,852 shares of the construction company’s stock valued at $16,058,000 after purchasing an additional 145,725 shares during the last quarter. Morse Asset Management Inc acquired a new position in PulteGroup in the 2nd quarter valued at about $849,000. Public Sector Pension Investment Board raised its holdings in PulteGroup by 61.3% in the 2nd quarter. Public Sector Pension Investment Board now owns 7,817 shares of the construction company’s stock valued at $861,000 after acquiring an additional 2,970 shares during the period. Fidelis Capital Partners LLC lifted its position in PulteGroup by 28.0% during the second quarter. Fidelis Capital Partners LLC now owns 4,240 shares of the construction company’s stock worth $509,000 after acquiring an additional 927 shares during the last quarter. Finally, ProShare Advisors LLC boosted its holdings in shares of PulteGroup by 108.8% during the second quarter. ProShare Advisors LLC now owns 82,630 shares of the construction company’s stock worth $9,098,000 after acquiring an additional 43,052 shares during the period. 89.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PHM shares. Bank of America lifted their price target on PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Wolfe Research downgraded shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. Royal Bank of Canada lifted their price objective on shares of PulteGroup from $113.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. increased their target price on shares of PulteGroup from $141.00 to $152.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, Evercore ISI lifted their price target on shares of PulteGroup from $183.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $134.71.

PulteGroup Trading Up 1.2 %

PHM opened at $143.53 on Tuesday. The company’s 50 day moving average is $129.50 and its 200-day moving average is $118.81. The company has a market cap of $30.19 billion, a P/E ratio of 11.49, a PEG ratio of 0.57 and a beta of 1.62. PulteGroup, Inc. has a 1-year low of $68.80 and a 1-year high of $145.84. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.15.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, July 23rd. The construction company reported $3.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.56. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. The company had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.49 billion. During the same period in the prior year, the business earned $3.00 earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. Equities research analysts predict that PulteGroup, Inc. will post 12.9 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 17th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Tuesday, September 17th. PulteGroup’s dividend payout ratio (DPR) is currently 6.41%.

Insider Activity

In other PulteGroup news, Director Thomas J. Folliard sold 19,000 shares of the business’s stock in a transaction that occurred 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 directly owns 45,230 shares of the company’s stock, valued at approximately $5,931,462.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other PulteGroup news, CFO Robert Oshaughnessy sold 71,007 shares of PulteGroup stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $134.83, for a total transaction of $9,573,873.81. Following the transaction, the chief financial officer now directly owns 89,323 shares of the company’s stock, valued at approximately $12,043,420.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas J. Folliard sold 19,000 shares of the stock in a transaction dated 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 completion of the sale, the director now directly owns 45,230 shares of the company’s stock, valued at approximately $5,931,462.20. The disclosure for this sale can be found here. Insiders sold 119,000 shares of company stock valued at $15,814,039 over the last quarter. 0.83% of the stock is owned by company insiders.

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.