Harvest Fund Management Co. Ltd Has $853,000 Holdings in PulteGroup, Inc. (NYSE:PHM)

Harvest Fund Management Co. Ltd boosted its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 102.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 5,941 shares of the construction company’s stock after purchasing an additional 3,005 shares during the period. Harvest Fund Management Co. Ltd’s holdings in PulteGroup were worth $853,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Fortitude Family Office LLC lifted its holdings 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 purchasing an additional 99 shares in the last quarter. Transcendent Capital Group LLC bought a new stake in shares of PulteGroup in the third quarter valued at about $29,000. WR Wealth Planners LLC increased its position in shares of PulteGroup by 54.7% in the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock valued at $26,000 after acquiring an additional 82 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of PulteGroup in the first quarter valued at about $28,000. Finally, Rothschild Investment LLC acquired a new stake in shares of PulteGroup in the second quarter valued at about $31,000. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Price Performance

PulteGroup stock opened at $137.61 on Tuesday. PulteGroup, Inc. has a 12 month low of $86.59 and a 12 month high of $149.47. The stock’s 50 day moving average is $136.69 and its 200-day moving average is $126.05. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $28.22 billion, a price-to-earnings ratio of 10.15, a PEG ratio of 0.53 and a beta of 1.63.

PulteGroup (NYSE:PHM) last posted 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 for the quarter, compared to the consensus estimate of $4.27 billion. During the same quarter in the prior year, the business earned $2.90 earnings per share. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. Equities research analysts expect that PulteGroup, Inc. will post 12.94 EPS for the current year.

PulteGroup Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 17th will be paid a $0.22 dividend. This is a boost from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend is Tuesday, December 17th. PulteGroup’s payout ratio is 5.90%.

Insider Activity at PulteGroup

In related 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 completion of the sale, the director now directly owns 45,230 shares in the company, valued at approximately $5,931,462.20. The trade was a 29.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.75% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PHM has been the topic of a number of recent research reports. Oppenheimer lowered their target price on PulteGroup from $168.00 to $165.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. UBS Group lifted their target price on PulteGroup from $148.00 to $154.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Wolfe Research downgraded PulteGroup from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. BTIG Research boosted their price target on PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Wedbush reissued a “neutral” rating and set a $115.00 price target on shares of PulteGroup in a research report on Tuesday, October 22nd. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, PulteGroup presently has an average rating of “Moderate Buy” and an average target price of $145.00.

PulteGroup 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.