Groupama Asset Managment Buys New Stake in PulteGroup, Inc. (NYSE:PHM)

Groupama Asset Managment bought a new position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 4,923 shares of the construction company's stock, valued at approximately $707,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PHM. Grove Bank & Trust lifted its holdings in PulteGroup by 18.4% during the third quarter. Grove Bank & Trust now owns 463 shares of the construction company's stock valued at $66,000 after purchasing an additional 72 shares in the last quarter. WR Wealth Planners LLC boosted its holdings 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 buying an additional 82 shares during the last quarter. Cromwell Holdings LLC increased its stake in PulteGroup by 17.2% during the 3rd quarter. Cromwell Holdings LLC now owns 565 shares of the construction company's stock worth $81,000 after buying an additional 83 shares in the last quarter. Concord Wealth Partners increased its stake in PulteGroup by 1.7% during the 3rd quarter. Concord Wealth Partners now owns 5,002 shares of the construction company's stock worth $718,000 after buying an additional 83 shares in the last quarter. Finally, Lebenthal Global Advisors LLC raised its holdings in shares of PulteGroup by 3.9% during the second quarter. Lebenthal Global Advisors LLC now owns 2,329 shares of the construction company's stock valued at $256,000 after acquiring an additional 87 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company's stock.

Wall Street Analysts Forecast Growth

PHM has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their price target on PulteGroup from $150.00 to $165.00 and gave the stock an "overweight" rating in a research note on Monday, October 7th. Wedbush reaffirmed a "neutral" rating and set a $115.00 target price on shares of PulteGroup in a report on Tuesday, October 22nd. BTIG Research raised 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. UBS Group upped their price objective on shares of PulteGroup from $148.00 to $154.00 and gave the company a "neutral" rating in a research note on Wednesday, October 23rd. Finally, Wolfe Research downgraded shares of PulteGroup from an "outperform" rating to a "peer perform" rating in a report on Wednesday, August 14th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, PulteGroup currently has an average rating of "Moderate Buy" and a consensus price target of $145.00.

PulteGroup Stock Down 2.4 %

PHM traded down $3.10 on Tuesday, hitting $125.37. 2,147,807 shares of the company were exchanged, compared to its average volume of 1,821,271. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.14. The company has a market cap of $25.71 billion, a price-to-earnings ratio of 9.24, a price-to-earnings-growth ratio of 0.52 and a beta of 1.62. The firm has a 50-day moving average price of $134.76 and a two-hundred day moving average price of $127.11. PulteGroup, Inc. has a twelve month low of $95.36 and a twelve month high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.25. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The firm had revenue of $4.48 billion for the quarter, compared to analysts' expectations of $4.27 billion. During the same quarter last year, the company earned $2.90 earnings per share. The firm's revenue was up 11.8% compared to the same quarter last year. On average, equities analysts predict 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 issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.70%. The ex-dividend date is Tuesday, December 17th. This is a positive change from PulteGroup's previous quarterly dividend of $0.20. PulteGroup's dividend payout ratio is 6.49%.

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.