Brophy Wealth Management LLC Invests $446,000 in PulteGroup, Inc. (NYSE:PHM)

Brophy Wealth Management LLC bought a new position in shares of PulteGroup, Inc. (NYSE:PHM) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,109 shares of the construction company’s stock, valued at approximately $446,000.

A number of other hedge funds also recently modified their holdings of the stock. FMR LLC lifted its stake in shares of PulteGroup by 102.3% during the 3rd quarter. FMR LLC now owns 9,040,828 shares of the construction company’s stock worth $1,297,630,000 after buying an additional 4,571,757 shares during the last quarter. Greenhaven Associates Inc. raised its stake in PulteGroup by 0.3% in the 3rd quarter. Greenhaven Associates Inc. now owns 5,593,179 shares of the construction company’s stock worth $802,789,000 after purchasing an additional 16,871 shares in the last quarter. Pacer Advisors Inc. raised its stake in PulteGroup by 8.6% in the 2nd quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock worth $326,864,000 after purchasing an additional 235,826 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in PulteGroup by 7.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,864,040 shares of the construction company’s stock worth $267,546,000 after purchasing an additional 135,391 shares in the last quarter. Finally, Hsbc Holdings PLC raised its stake in PulteGroup by 19.6% in the 2nd quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock worth $168,254,000 after purchasing an additional 250,937 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Stock Down 2.4 %

Shares of NYSE PHM opened at $125.37 on Wednesday. The company has a market capitalization of $25.71 billion, a P/E ratio of 9.25, a price-to-earnings-growth ratio of 0.52 and a beta of 1.62. PulteGroup, Inc. has a 52-week low of $95.36 and a 52-week high of $149.47. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73. The company’s 50 day moving average price is $134.76 and its 200-day moving average price is $127.11.

PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.10 by $0.25. The firm had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.27 billion. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.90 EPS. Equities analysts forecast that PulteGroup, Inc. will post 12.94 earnings per share for the current year.

PulteGroup Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 17th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Tuesday, December 17th. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. PulteGroup’s payout ratio is presently 6.49%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Evercore ISI dropped their price objective on shares of PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. UBS Group lifted their price objective on shares of PulteGroup from $148.00 to $154.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Oppenheimer dropped their price objective on shares of PulteGroup from $168.00 to $165.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. BTIG Research lifted their price objective on shares of PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Wedbush reissued a “neutral” rating and issued a $115.00 target price on shares of PulteGroup in a report on Tuesday, October 22nd. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, PulteGroup currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.00.

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.