Ignite Planners LLC Acquires New Position in PulteGroup, Inc. (NYSE:PHM)

Ignite Planners LLC acquired a new stake in shares of PulteGroup, Inc. (NYSE:PHM) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,436 shares of the construction company’s stock, valued at approximately $206,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PHM. Swedbank AB purchased a new position in PulteGroup during the first quarter valued at approximately $68,985,000. Hsbc Holdings PLC grew its position in PulteGroup by 19.6% during the second quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock valued at $168,254,000 after purchasing an additional 250,937 shares in the last quarter. Pacer Advisors Inc. grew its position in PulteGroup by 8.6% during the second quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock valued at $326,864,000 after purchasing an additional 235,826 shares in the last quarter. Janney Montgomery Scott LLC grew its position in PulteGroup by 130.2% during the first quarter. Janney Montgomery Scott LLC now owns 388,298 shares of the construction company’s stock valued at $46,837,000 after purchasing an additional 219,609 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in PulteGroup by 40.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 733,804 shares of the construction company’s stock valued at $88,511,000 after acquiring an additional 212,837 shares during the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Price Performance

NYSE:PHM opened at $140.16 on Wednesday. The stock has a market cap of $29.09 billion, a P/E ratio of 11.22, a PEG ratio of 0.58 and a beta of 1.62. PulteGroup, Inc. has a one year low of $68.80 and a one year high of $145.84. The company has a fifty day moving average price of $132.75 and a 200 day moving average price of $120.91. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.76 and a quick ratio of 0.76.

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

PulteGroup Dividend Announcement

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

Insider Activity at PulteGroup

In other PulteGroup news, CFO Robert Oshaughnessy sold 71,007 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $134.83, for a total value of $9,573,873.81. Following the sale, the chief financial officer now owns 89,323 shares of the company’s stock, valued at $12,043,420.09. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other PulteGroup news, CFO Robert Oshaughnessy sold 71,007 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $134.83, for a total value of $9,573,873.81. Following the sale, the chief financial officer now owns 89,323 shares of the company’s stock, valued at $12,043,420.09. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Thomas J. Folliard sold 19,000 shares of the business’s stock in a transaction 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 completion of the sale, the director now directly owns 45,230 shares in the company, valued at $5,931,462.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 119,000 shares of company stock worth $15,814,039 in the last ninety days. 0.83% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have issued reports on PHM. Oppenheimer lifted their target price 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. Raymond James lifted their target price on shares of PulteGroup from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. BTIG Research lifted their target price on shares of PulteGroup from $133.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Wells Fargo & Company lifted their target price on shares of PulteGroup from $150.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Royal Bank of Canada lifted their target price on shares of PulteGroup from $113.00 to $120.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $141.14.

PulteGroup Company 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.