Coastline Trust Co Purchases 504 Shares of PulteGroup, Inc. (NYSE:PHM)

Coastline Trust Co boosted its holdings in PulteGroup, Inc. (NYSE:PHM) by 3.7% during the third quarter, Holdings Channel.com reports. The firm owned 14,185 shares of the construction company’s stock after acquiring an additional 504 shares during the quarter. Coastline Trust Co’s holdings in PulteGroup were worth $2,036,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. WR Wealth Planners LLC boosted its stake in PulteGroup by 54.7% in the 2nd quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock worth $26,000 after purchasing an additional 82 shares in the last quarter. Fortitude Family Office LLC raised its holdings in PulteGroup by 115.1% in 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 during the last quarter. LRI Investments LLC bought a new position in shares of PulteGroup in the first quarter worth approximately $28,000. Transcendent Capital Group LLC bought a new stake in shares of PulteGroup during the third quarter valued at approximately $29,000. Finally, Rothschild Investment LLC bought a new stake in shares of PulteGroup during the second quarter valued at approximately $31,000. Institutional investors own 89.90% of the company’s stock.

PulteGroup Trading Down 0.4 %

NYSE:PHM opened at $128.89 on Friday. PulteGroup, Inc. has a one year low of $86.59 and a one year high of $149.47. The business has a fifty day moving average price of $137.29 and a 200-day moving average price of $125.27. The firm has a market capitalization of $26.43 billion, a price-to-earnings ratio of 9.51, a price-to-earnings-growth ratio of 0.52 and a beta of 1.63. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.73.

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

PulteGroup Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th will be paid a dividend of $0.22 per share. This is a boost from PulteGroup’s previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, December 17th. This represents a $0.88 dividend on an annualized basis and a yield of 0.68%. PulteGroup’s dividend payout ratio (DPR) is presently 5.90%.

Analysts Set New Price Targets

Several analysts have commented on the company. Raymond James increased their target price on PulteGroup from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Wedbush reaffirmed a “neutral” rating and set a $115.00 price objective on shares of PulteGroup in a research report on Tuesday, October 22nd. Bank of America upped their target price on shares of PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. BTIG Research lifted their price target 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, UBS Group increased their price objective on shares of PulteGroup from $148.00 to $154.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $145.00.

Insider Buying and Selling at PulteGroup

In related news, Director Thomas J. Folliard sold 19,000 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total transaction of $2,491,660.00. Following the completion of the sale, the director now owns 45,230 shares in the company, valued at approximately $5,931,462.20. This trade represents a 29.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Robert Oshaughnessy sold 71,007 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 89,323 shares of the company’s stock, valued at approximately $12,043,420.09. This trade represents a 44.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.83% of the company’s stock.

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.