Meritage Portfolio Management Has $7.12 Million Holdings in PulteGroup, Inc. (NYSE:PHM)

Meritage Portfolio Management decreased its holdings in PulteGroup, Inc. (NYSE:PHM) by 2.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,579 shares of the construction company’s stock after selling 1,163 shares during the quarter. Meritage Portfolio Management’s holdings in PulteGroup were worth $7,116,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. WR Wealth Planners LLC raised its position in shares of PulteGroup by 54.7% during the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock worth $26,000 after acquiring an additional 82 shares during the last quarter. Fortitude Family Office LLC raised 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 purchasing an additional 99 shares during the last quarter. LRI Investments LLC acquired a new position in shares of PulteGroup in the 1st quarter worth approximately $28,000. Transcendent Capital Group LLC bought a new stake in shares of PulteGroup in the 3rd quarter valued at $29,000. Finally, Rothschild Investment LLC bought a new position in PulteGroup during the second quarter worth $31,000. 89.90% of the stock is owned by institutional investors.

PulteGroup Stock Up 1.2 %

Shares of PHM traded up $1.54 on Friday, reaching $132.70. The company’s stock had a trading volume of 1,599,269 shares, compared to its average volume of 1,846,435. The stock has a market capitalization of $27.21 billion, a PE ratio of 9.79, a PEG ratio of 0.53 and a beta of 1.63. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.14. PulteGroup, Inc. has a twelve month low of $80.60 and a twelve month high of $149.47. The firm has a fifty day moving average of $137.27 and a 200-day moving average of $124.69.

PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, beating analysts’ consensus estimates of $3.10 by $0.25. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The company had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.27 billion. During the same quarter last year, the company earned $2.90 earnings per share. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. Equities analysts predict that PulteGroup, Inc. will post 12.92 EPS for the current year.

PulteGroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 17th were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.80 annualized dividend and a dividend yield of 0.60%. PulteGroup’s dividend payout ratio is currently 5.90%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PHM shares. Barclays increased their price target on PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Royal Bank of Canada raised their target price on PulteGroup from $113.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 24th. UBS Group increased their price target on PulteGroup from $148.00 to $154.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Wedbush reiterated a “neutral” rating and issued a $115.00 price objective on shares of PulteGroup in a research note on Tuesday, October 22nd. Finally, BTIG Research boosted their target price on shares of PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, PulteGroup currently has an average rating of “Moderate Buy” and a consensus target price of $145.00.

Insider Activity at PulteGroup

In other PulteGroup news, 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 owns 45,230 shares in the company, valued at approximately $5,931,462.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Thomas J. Folliard sold 19,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total value of $2,491,660.00. Following the transaction, the director now owns 45,230 shares in the company, valued at $5,931,462.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Robert Oshaughnessy sold 71,007 shares of the stock in a transaction that occurred 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 directly owns 89,323 shares of the company’s stock, valued at $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. 0.83% of the stock is owned by 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.