PulteGroup, Inc. $PHM Shares Newly Purchased by Formidable Asset Management LLC

Formidable Asset Management LLC purchased a new stake in PulteGroup, Inc. (NYSE:PHM) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,785 shares of the construction company’s stock, valued at approximately $555,000.

Other hedge funds have also bought and sold shares of the company. Parallel Advisors LLC boosted its holdings in PulteGroup by 10.3% in the 3rd quarter. Parallel Advisors LLC now owns 4,238 shares of the construction company’s stock valued at $492,000 after purchasing an additional 395 shares during the period. Chicago Partners Investment Group LLC grew its position in shares of PulteGroup by 11.3% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 4,852 shares of the construction company’s stock worth $588,000 after purchasing an additional 494 shares in the last quarter. Ascent Group LLC grew its position in shares of PulteGroup by 1.8% during the 3rd quarter. Ascent Group LLC now owns 15,452 shares of the construction company’s stock worth $1,793,000 after purchasing an additional 280 shares in the last quarter. Rakuten Investment Management Inc. grew its position in shares of PulteGroup by 8.4% during the 3rd quarter. Rakuten Investment Management Inc. now owns 33,843 shares of the construction company’s stock worth $4,010,000 after purchasing an additional 2,623 shares in the last quarter. Finally, Third View Private Wealth LLC increased its holdings in shares of PulteGroup by 16.0% during the third quarter. Third View Private Wealth LLC now owns 2,598 shares of the construction company’s stock worth $301,000 after purchasing an additional 359 shares during the period. 89.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PHM. Truist Financial dropped their price target on shares of PulteGroup from $145.00 to $136.00 and set a “buy” rating for the company in a research report on Wednesday, September 16th. Citigroup boosted their price target on PulteGroup from $122.00 to $127.00 and gave the company a “neutral” rating in a research note on Monday, October 26th. Morgan Stanley reduced their price target on PulteGroup from $128.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 3rd. Wolfe Research set a $129.00 price objective on PulteGroup and gave the stock an “outperform” rating in a research note on Monday, August 24th. Finally, Piper Sandler cut PulteGroup to a “hold” rating and set a $145.00 price objective for the company. in a report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $136.76.

PulteGroup Trading Down 0.1%

PHM opened at $132.36 on Monday. The stock has a market capitalization of $24.37 billion, a price-to-earnings ratio of 14.14, a P/E/G ratio of 2.22 and a beta of 1.17. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.14. PulteGroup, Inc. has a twelve month low of $107.15 and a twelve month high of $144.49. The company has a 50-day simple moving average of $119.59 and a 200 day simple moving average of $124.22.

PulteGroup (NYSE:PHM) last released its earnings results on Thursday, October 22nd. The construction company reported $2.53 EPS for the quarter, missing the consensus estimate of $2.63 by ($0.10). The firm had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.15 billion. PulteGroup had a net margin of 11.24% and a return on equity of 14.29%. PulteGroup’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.96 earnings per share. Analysts predict that PulteGroup, Inc. will post 9.37 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Tuesday, September 15th were given a dividend of $0.26 per share. The ex-dividend date was Tuesday, September 15th. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. PulteGroup’s dividend payout ratio (DPR) is currently 11.11%.

PulteGroup Company Profile

PulteGroup, Inc is a U.S. homebuilding company that develops and builds residential communities. Its brands include Pulte Homes, Centex, Del Webb, DiVosta and John Wieland Homes and Neighborhoods, serving a range of buyers from first-time homeowners to active adults.

The company traces its origins to 1950, when founder William J. Pulte began building homes in the Detroit area. PulteGroup has since expanded its homebuilding operations across numerous markets in the United States.

In addition to constructing and selling homes, PulteGroup offers mortgage lending and related services through Pulte Mortgage and affiliated businesses.