Signal Advisors Wealth LLC Raises Holdings in PulteGroup, Inc. $PHM

Signal Advisors Wealth LLC increased its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 83.6% in the third quarter, Holdings Channel reports. The firm owned 16,909 shares of the construction company’s stock after buying an additional 7,701 shares during the period. Signal Advisors Wealth LLC’s holdings in PulteGroup were worth $2,234,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PHM. Franklin Resources Inc. lifted its position in shares of PulteGroup by 0.8% during the second quarter. Franklin Resources Inc. now owns 12,290,631 shares of the construction company’s stock worth $1,296,170,000 after purchasing an additional 95,058 shares in the last quarter. Norges Bank acquired a new position in PulteGroup in the second quarter valued at $404,339,000. First Trust Advisors LP boosted its position in shares of PulteGroup by 27.2% in the 2nd quarter. First Trust Advisors LP now owns 3,199,906 shares of the construction company’s stock valued at $337,462,000 after purchasing an additional 683,728 shares during the period. Invesco Ltd. grew its position in shares of PulteGroup by 0.9% during the second quarter. Invesco Ltd. now owns 2,634,275 shares of the construction company’s stock worth $277,811,000 after acquiring an additional 23,051 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in PulteGroup by 11.8% during the 1st quarter. Ameriprise Financial Inc. now owns 2,570,022 shares of the construction company’s stock worth $264,216,000 after purchasing an additional 271,917 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Down 1.7%

Shares of PulteGroup stock opened at $119.58 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.13. The firm has a market cap of $23.31 billion, a P/E ratio of 9.21, a P/E/G ratio of 0.98 and a beta of 1.31. PulteGroup, Inc. has a fifty-two week low of $88.07 and a fifty-two week high of $142.11. The business has a 50-day moving average price of $122.10 and a 200 day moving average price of $120.74.

PulteGroup (NYSE:PHM) last issued its earnings results on Tuesday, October 21st. The construction company reported $2.96 earnings per share for the quarter, topping analysts’ consensus estimates of $2.86 by $0.10. PulteGroup had a net margin of 14.93% and a return on equity of 19.58%. The company had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.31 billion. During the same period in the prior year, the company earned $3.35 earnings per share. The firm’s revenue was down 1.6% compared to the same quarter last year. On average, sell-side analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Tuesday, December 16th will be given a dividend of $0.26 per share. The ex-dividend date is Tuesday, December 16th. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. This is an increase from PulteGroup’s previous quarterly dividend of $0.22. PulteGroup’s payout ratio is presently 8.01%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Evercore ISI dropped their target price on PulteGroup from $154.00 to $134.00 and set an “in-line” rating on the stock in a report on Wednesday, October 22nd. Zacks Research upgraded PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Friday, August 29th. JPMorgan Chase & Co. increased their price target on shares of PulteGroup from $136.00 to $149.00 and gave the company an “overweight” rating in a research report on Thursday, December 4th. Weiss Ratings reiterated a “buy (b-)” rating on shares of PulteGroup in a research report on Monday. Finally, Bank of America reduced their price target on PulteGroup from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $137.25.

PulteGroup Profile

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.