Meritage Portfolio Management Has $5.62 Million Holdings in PulteGroup, Inc. $PHM

Meritage Portfolio Management decreased its holdings in PulteGroup, Inc. (NYSE:PHM) by 10.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,556 shares of the construction company’s stock after selling 5,012 shares during the period. Meritage Portfolio Management’s holdings in PulteGroup were worth $5,623,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Private Wealth Management Group LLC increased its holdings in shares of PulteGroup by 281.7% during the 3rd quarter. Private Wealth Management Group LLC now owns 271 shares of the construction company’s stock worth $36,000 after acquiring an additional 200 shares during the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in PulteGroup during the second quarter worth $32,000. Rexford Capital Inc. acquired a new position in shares of PulteGroup in the second quarter valued at $35,000. True Wealth Design LLC increased its holdings in shares of PulteGroup by 229.6% in the third quarter. True Wealth Design LLC now owns 356 shares of the construction company’s stock valued at $47,000 after purchasing an additional 248 shares during the last quarter. Finally, SJS Investment Consulting Inc. raised its position in shares of PulteGroup by 1,423.1% in the third quarter. SJS Investment Consulting Inc. now owns 396 shares of the construction company’s stock valued at $52,000 after purchasing an additional 370 shares during the period. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Stock Performance

Shares of NYSE:PHM opened at $130.80 on Thursday. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-month high of $142.11. The company’s 50 day moving average price is $122.38 and its two-hundred day moving average price is $123.36. The firm has a market cap of $25.49 billion, a PE ratio of 10.07, a PEG ratio of 1.08 and a beta of 1.33. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.13.

PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Tuesday, October 21st. The construction company reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.86 by $0.10. The business had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.31 billion. PulteGroup had a return on equity of 19.58% and a net margin of 14.93%.The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the company posted $3.35 earnings per share. Equities research analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 16th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Tuesday, December 16th. This is a positive change from PulteGroup’s previous quarterly dividend of $0.22. PulteGroup’s dividend payout ratio is currently 8.01%.

Wall Street Analyst Weigh In

Several brokerages recently commented on PHM. Citizens Jmp initiated coverage on shares of PulteGroup in a report on Wednesday, January 7th. They set a “market outperform” rating and a $145.00 target price for the company. Bank of America cut their price objective on shares of PulteGroup from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, October 10th. Weiss Ratings upgraded PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. UBS Group lowered their target price on PulteGroup from $160.00 to $159.00 and set a “buy” rating on the stock in a research note on Tuesday, January 6th. Finally, Wells Fargo & Company lifted their price target on PulteGroup from $132.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $138.85.

PulteGroup Profile

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.