Sugarloaf Wealth Management LLC Increases Stock Position in PulteGroup, Inc. (NYSE:PHM)

Sugarloaf Wealth Management LLC raised its position in shares of PulteGroup, Inc. (NYSE:PHM) by 9.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,725 shares of the construction company’s stock after buying an additional 150 shares during the period. Sugarloaf Wealth Management LLC’s holdings in PulteGroup were worth $248,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PHM. WR Wealth Planners LLC lifted its position in shares of PulteGroup by 54.7% in the 2nd quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock worth $26,000 after purchasing an additional 82 shares during the period. Lebenthal Global Advisors LLC lifted its position in PulteGroup by 3.9% during the 2nd quarter. Lebenthal Global Advisors LLC now owns 2,329 shares of the construction company’s stock valued at $256,000 after acquiring an additional 87 shares during the period. Tocqueville Asset Management L.P. lifted its position in PulteGroup by 2.0% during the 1st quarter. Tocqueville Asset Management L.P. now owns 5,092 shares of the construction company’s stock valued at $614,000 after acquiring an additional 101 shares during the period. Patten Group Inc. lifted its position in PulteGroup by 2.9% during the 2nd quarter. Patten Group Inc. now owns 3,805 shares of the construction company’s stock valued at $419,000 after acquiring an additional 109 shares during the period. Finally, NBC Securities Inc. lifted its position in PulteGroup by 2.4% during the 1st quarter. NBC Securities Inc. now owns 4,774 shares of the construction company’s stock valued at $575,000 after acquiring an additional 112 shares during the period. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PHM. JPMorgan Chase & Co. lifted their price target on shares of PulteGroup from $141.00 to $152.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Wells Fargo & Company lifted their price target on shares of PulteGroup from $150.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday. Royal Bank of Canada lifted their price target on shares of PulteGroup from $113.00 to $120.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 24th. Wedbush reissued a “neutral” rating and set a $115.00 price target on shares of PulteGroup in a research report on Friday, August 16th. Finally, Oppenheimer raised their price objective on shares of PulteGroup from $151.00 to $168.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, PulteGroup currently has an average rating of “Moderate Buy” and an average price target of $141.14.

Insider Transactions at PulteGroup

In related news, CFO Robert Oshaughnessy sold 71,007 shares of the business’s stock in a transaction that occurred 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other PulteGroup news, Director Thomas J. Folliard sold 19,000 shares of PulteGroup 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 transaction, the director now owns 45,230 shares of the company’s stock, valued at $5,931,462.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert Oshaughnessy sold 71,007 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now owns 89,323 shares of the company’s stock, valued at approximately $12,043,420.09. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 119,000 shares of company stock worth $15,814,039 over the last three months. 0.83% of the stock is currently owned by company insiders.

PulteGroup Stock Performance

Shares of PHM stock traded up $1.63 during trading hours on Tuesday, reaching $141.06. The company had a trading volume of 234,437 shares, compared to its average volume of 1,842,681. The business has a fifty day moving average price of $132.62 and a 200-day moving average price of $120.75. PulteGroup, Inc. has a one year low of $68.80 and a one year high of $145.84. The firm has a market cap of $29.27 billion, a PE ratio of 11.23, a price-to-earnings-growth ratio of 0.58 and a beta of 1.62. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.76 and a current ratio of 0.76.

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

PulteGroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 17th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.57%. PulteGroup’s dividend payout ratio is presently 6.41%.

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.