Logan Capital Management Inc. boosted its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 67.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,797 shares of the construction company's stock after purchasing an additional 5,976 shares during the period. Logan Capital Management Inc.'s holdings in PulteGroup were worth $2,124,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of PHM. Grove Bank & Trust lifted its position in shares of PulteGroup by 18.4% during the 3rd quarter. Grove Bank & Trust now owns 463 shares of the construction company's stock valued at $66,000 after buying an additional 72 shares during the last quarter. WR Wealth Planners LLC boosted its position in PulteGroup by 54.7% during 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. Cromwell Holdings LLC increased its stake in shares of PulteGroup by 17.2% in the third quarter. Cromwell Holdings LLC now owns 565 shares of the construction company's stock worth $81,000 after purchasing an additional 83 shares in the last quarter. Concord Wealth Partners increased its stake in shares of PulteGroup by 1.7% in the third quarter. Concord Wealth Partners now owns 5,002 shares of the construction company's stock worth $718,000 after purchasing an additional 83 shares in the last quarter. Finally, Lebenthal Global Advisors LLC raised its position in shares of PulteGroup by 3.9% in the second quarter. Lebenthal Global Advisors LLC now owns 2,329 shares of the construction company's stock valued at $256,000 after purchasing an additional 87 shares during the period. 89.90% of the stock is owned by institutional investors.
PHM has been the topic of a number of analyst reports. StockNews.com cut shares of PulteGroup from a "buy" rating to a "hold" rating in a report on Wednesday. Wells Fargo & Company raised their target price on PulteGroup from $150.00 to $165.00 and gave the stock an "overweight" rating in a research note on Monday, October 7th. Oppenheimer lowered their price target on shares of PulteGroup from $168.00 to $165.00 and set an "outperform" rating on the stock in a report on Wednesday, October 23rd. BTIG Research raised their price target on shares of PulteGroup from $139.00 to $156.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Finally, Barclays reaffirmed an "equal weight" rating and issued a $140.00 price target (down previously from $150.00) on shares of PulteGroup in a report on Wednesday. Eight investment analysts have rated the stock with a hold rating and nine 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 a consensus price target of $144.50.
Read Our Latest Research Report on PulteGroup
Shares of PHM opened at $118.44 on Friday. The firm has a market cap of $24.29 billion, a P/E ratio of 8.73, a P/E/G ratio of 0.50 and a beta of 1.62. PulteGroup, Inc. has a 1 year low of $99.03 and a 1 year high of $149.47. The stock has a 50 day simple moving average of $133.08 and a two-hundred day simple moving average of $127.14. 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 - Get Free Report) last released 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. The company had revenue of $4.48 billion for 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 quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.90 EPS. On average, analysts forecast that PulteGroup, Inc. will post 12.94 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 17th will be issued a dividend of $0.22 per share. 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 yield of 0.74%. PulteGroup's dividend payout ratio is currently 6.49%.
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.
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