Huntington National Bank Raises Stock Position in PulteGroup, Inc. (NYSE:PHM)

Huntington National Bank increased its position in shares of PulteGroup, Inc. (NYSE:PHM) by 1.3% during the third quarter, HoldingsChannel.com reports. The fund owned 10,155 shares of the construction company’s stock after acquiring an additional 134 shares during the period. Huntington National Bank’s holdings in PulteGroup were worth $1,458,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of PHM. WR Wealth Planners LLC increased its holdings 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 worth $26,000 after purchasing an additional 82 shares during the period. Fortitude Family Office LLC grew its position in PulteGroup by 115.1% during the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock worth $27,000 after buying an additional 99 shares in the last quarter. LRI Investments LLC bought a new position in PulteGroup in the 1st quarter worth about $28,000. Transcendent Capital Group LLC purchased a new stake in shares of PulteGroup in the 3rd quarter valued at about $29,000. Finally, Rothschild Investment LLC bought a new stake in shares of PulteGroup during the 2nd quarter valued at about $31,000. 89.90% of the stock is owned by institutional investors.

Insider Activity at PulteGroup

In related news, Director Thomas J. Folliard sold 19,000 shares of the firm’s stock in a transaction 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 owns 45,230 shares of the company’s stock, valued at $5,931,462.20. This trade represents a 29.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Robert Oshaughnessy sold 71,007 shares of PulteGroup stock in a transaction on 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 sale, the chief financial officer now owns 89,323 shares in the company, valued at approximately $12,043,420.09. This trade represents a 44.29 % decrease in their position. The disclosure for this sale can be found here. 0.83% of the stock is owned by company insiders.

PulteGroup Stock Performance

Shares of PHM stock opened at $128.89 on Friday. The company has a market capitalization of $26.43 billion, a P/E ratio of 9.55, a PEG ratio of 0.52 and a beta of 1.63. PulteGroup, Inc. has a fifty-two week low of $86.59 and a fifty-two 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 stock has a 50 day moving average price of $137.31 and a two-hundred day moving average price of $125.17.

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

PulteGroup Increases Dividend

The firm also recently announced 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. The ex-dividend date is Tuesday, December 17th. 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 0.68%. PulteGroup’s dividend payout ratio (DPR) is presently 5.90%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of PulteGroup from $141.00 to $152.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Evercore ISI lowered their price objective on shares of PulteGroup from $198.00 to $195.00 and set an “outperform” rating on the stock in a research report 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 report on Wednesday, October 23rd. Wedbush reissued a “neutral” rating and issued a $115.00 target price on shares of PulteGroup in a research note on Tuesday, October 22nd. Finally, Oppenheimer dropped their price target on PulteGroup from $168.00 to $165.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $145.00.

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.