HM Payson & Co. Has $1.07 Million Position in PulteGroup, Inc. (NYSE:PHM)

HM Payson & Co. raised its position in PulteGroup, Inc. (NYSE:PHM) by 4.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,457 shares of the construction company’s stock after purchasing an additional 340 shares during the quarter. HM Payson & Co.’s holdings in PulteGroup were worth $1,070,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Fortitude Family Office LLC increased its stake in shares of PulteGroup by 115.1% in the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock valued at $27,000 after buying an additional 99 shares during the period. WR Wealth Planners LLC grew its holdings in PulteGroup by 54.7% during the 2nd 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. LRI Investments LLC acquired a new position in PulteGroup in the 1st quarter valued at approximately $28,000. Rothschild Investment LLC bought a new position in shares of PulteGroup during the second quarter valued at $31,000. Finally, Candriam S.C.A. acquired a new position in shares of PulteGroup during the second quarter worth $33,000. 89.90% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at PulteGroup

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

Analyst Ratings Changes

PHM has been the subject of a number of recent research reports. Evercore ISI decreased their price objective on PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Bank of America raised their price objective on PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. BTIG Research upped their target price on PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Royal Bank of Canada increased their target price on shares of PulteGroup from $113.00 to $120.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 24th. Finally, UBS Group boosted their price target on shares of PulteGroup from $148.00 to $154.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, PulteGroup currently has an average rating of “Moderate Buy” and a consensus target price of $145.00.

PulteGroup Stock Down 0.6 %

Shares of NYSE PHM opened at $129.53 on Friday. PulteGroup, Inc. has a 12-month low of $72.45 and a 12-month 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 firm has a market cap of $26.56 billion, a PE ratio of 9.55, a P/E/G ratio of 0.53 and a beta of 1.62. The company’s fifty day simple moving average is $137.45 and its 200 day simple moving average is $123.69.

PulteGroup (NYSE:PHM) last issued its earnings results on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.27 billion. During the same period last year, the business posted $2.90 EPS. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, sell-side analysts forecast that PulteGroup, Inc. will post 12.92 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 17th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.80 annualized dividend and a dividend yield of 0.62%. PulteGroup’s dividend payout ratio is 5.90%.

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.