2,874 Shares in PulteGroup, Inc. (NYSE:PHM) Acquired by Cynosure Group LLC

Cynosure Group LLC purchased a new position in shares of PulteGroup, Inc. (NYSE:PHM) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,874 shares of the construction company’s stock, valued at approximately $413,000.

Several other institutional investors have also recently made changes to their positions in the company. FMR LLC increased its position in PulteGroup by 102.3% during the 3rd quarter. FMR LLC now owns 9,040,828 shares of the construction company’s stock valued at $1,297,630,000 after purchasing an additional 4,571,757 shares during the period. Greenhaven Associates Inc. increased its holdings in PulteGroup by 0.3% during the third quarter. Greenhaven Associates Inc. now owns 5,593,179 shares of the construction company’s stock valued at $802,789,000 after buying an additional 16,871 shares during the period. Pacer Advisors Inc. raised its stake in PulteGroup by 8.6% in the second quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock worth $326,864,000 after buying an additional 235,826 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in PulteGroup by 19.6% during the second quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock worth $168,254,000 after buying an additional 250,937 shares during the period. Finally, Victory Capital Management Inc. boosted its position in PulteGroup by 6.3% during the 3rd quarter. Victory Capital Management Inc. now owns 1,025,276 shares of the construction company’s stock valued at $147,158,000 after acquiring an additional 60,854 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PHM shares. Wells Fargo & Company lifted their target price on PulteGroup from $150.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Bank of America lifted their price objective on shares of PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. BTIG Research increased 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. UBS Group lifted their price target on shares of PulteGroup from $148.00 to $154.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, Wolfe Research lowered PulteGroup from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.00.

PulteGroup Stock Performance

Shares of PHM stock opened at $136.53 on Thursday. PulteGroup, Inc. has a 52-week low of $86.59 and a 52-week high of $149.47. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.14. The stock has a market cap of $28.00 billion, a PE ratio of 10.07, a price-to-earnings-growth ratio of 0.56 and a beta of 1.63. The business has a 50-day simple moving average of $136.51 and a 200-day simple moving average of $126.25.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, topping the consensus estimate of $3.10 by $0.25. The business had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.27 billion. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.90 EPS. On average, equities analysts expect that PulteGroup, Inc. will post 12.94 EPS for the current year.

PulteGroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th will be issued a $0.22 dividend. This is a positive change from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 0.64%. The ex-dividend date is Tuesday, December 17th. PulteGroup’s dividend payout ratio (DPR) is presently 6.49%.

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.