Logan Capital Management Inc. Raises Stake in PulteGroup, Inc. (NYSE:PHM)

Logan Capital Management Inc. raised its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 67.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,797 shares of the construction company's stock after buying an additional 5,976 shares during the quarter. Logan Capital Management Inc.'s holdings in PulteGroup were worth $2,124,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of PHM. ORG Partners LLC boosted its stake in shares of PulteGroup by 67.6% during the second quarter. ORG Partners LLC now owns 558 shares of the construction company's stock worth $59,000 after buying an additional 225 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in PulteGroup by 7.9% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 17,788 shares of the construction company's stock valued at $1,958,000 after acquiring an additional 1,309 shares during the last quarter. Blue Trust Inc. lifted its position in PulteGroup by 46.9% during the 2nd quarter. Blue Trust Inc. now owns 4,683 shares of the construction company's stock worth $565,000 after acquiring an additional 1,495 shares during the period. Raymond James & Associates grew its stake in shares of PulteGroup by 7.6% in the 2nd quarter. Raymond James & Associates now owns 325,858 shares of the construction company's stock valued at $35,877,000 after purchasing an additional 22,936 shares during the last quarter. Finally, NatWest Group plc increased its holdings in shares of PulteGroup by 6.3% in the second quarter. NatWest Group plc now owns 81,571 shares of the construction company's stock valued at $8,981,000 after purchasing an additional 4,860 shares during the period. 89.90% of the stock is owned by institutional investors and hedge funds.

PulteGroup Price Performance

PulteGroup stock traded down $2.27 during trading hours on Friday, hitting $118.42. The stock had a trading volume of 2,174,743 shares, compared to its average volume of 1,826,453. PulteGroup, Inc. has a 1-year low of $99.03 and a 1-year high of $149.47. The stock has a market capitalization of $24.29 billion, a price-to-earnings ratio of 8.73, a PEG ratio of 0.50 and a beta of 1.62. The stock's fifty day moving average is $133.08 and its two-hundred day moving average is $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 issued its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, beating analysts' consensus estimates of $3.10 by $0.25. The firm had revenue of $4.48 billion for the quarter, compared to analysts' expectations of $4.27 billion. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. During the same period in the prior year, the company earned $2.90 EPS. The firm's revenue was up 11.8% on a year-over-year basis. As a group, analysts predict that PulteGroup, Inc. will post 12.94 earnings per share for the current fiscal year.

PulteGroup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 17th will be given a dividend of $0.22 per share. This is an increase from PulteGroup's previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a dividend yield of 0.74%. The ex-dividend date is Tuesday, December 17th. PulteGroup's payout ratio is currently 6.49%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PHM. UBS Group increased their price target on PulteGroup from $148.00 to $154.00 and gave the stock a "neutral" rating in a report on Wednesday, October 23rd. Wells Fargo & Company raised their target price on shares of PulteGroup from $150.00 to $165.00 and gave the stock an "overweight" rating in a research note on Monday, October 7th. JPMorgan Chase & Co. dropped their price target on shares of PulteGroup from $162.00 to $155.00 and set an "overweight" rating on the stock in a research note on Friday. Wedbush restated a "neutral" rating and issued a $115.00 price objective on shares of PulteGroup in a research report on Tuesday, October 22nd. Finally, Barclays reiterated an "equal weight" rating and set a $140.00 target price (down previously from $150.00) on shares of PulteGroup in a research report on Wednesday. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $144.50.

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.