13,129 Shares in PulteGroup, Inc. (NYSE:PHM) Bought by Meridian Wealth Management LLC

Meridian Wealth Management LLC bought a new position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,129 shares of the construction company's stock, valued at approximately $1,884,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PHM. WR Wealth Planners LLC grew its holdings in shares of 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 acquiring an additional 82 shares during the period. Fortitude Family Office LLC increased its position in shares of PulteGroup by 115.1% in the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company's stock valued at $27,000 after buying an additional 99 shares in the last quarter. LRI Investments LLC acquired a new position in shares of PulteGroup during the 1st quarter worth $28,000. Transcendent Capital Group LLC purchased a new stake in shares of PulteGroup in the 3rd quarter worth about $29,000. Finally, Rothschild Investment LLC acquired a new stake in PulteGroup in the 2nd quarter valued at about $31,000. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Trading Up 1.3 %

NYSE:PHM traded up $1.64 during trading hours on Friday, reaching $129.76. 1,316,736 shares of the company were exchanged, compared to its average volume of 1,739,518. The firm has a market cap of $26.61 billion, a price-to-earnings ratio of 9.57, a PEG ratio of 0.52 and a beta of 1.63. The stock has a 50 day simple moving average of $136.74 and a 200 day simple moving average of $125.77. PulteGroup, Inc. has a 52-week low of $86.59 and a 52-week high of $149.47. 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 earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share 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 return on equity of 25.30% and a net margin of 16.64%. The firm's revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.90 earnings per share. As a group, analysts predict that PulteGroup, Inc. will post 12.94 EPS for the current year.

PulteGroup Increases Dividend

The firm also recently declared 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 is a positive change from PulteGroup's previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, December 17th. This represents a $0.88 annualized dividend and a yield of 0.68%. PulteGroup's dividend payout ratio (DPR) is presently 5.90%.

Insider Activity at PulteGroup

In related news, Director Thomas J. Folliard sold 19,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total value of $2,491,660.00. Following the completion of the sale, the director now directly owns 45,230 shares in the company, valued at approximately $5,931,462.20. This represents a 29.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.83% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Wells Fargo & Company lifted their target price on shares of PulteGroup from $150.00 to $165.00 and gave the stock an "overweight" rating in a research report on Monday, October 7th. UBS Group lifted their price objective on PulteGroup from $148.00 to $154.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 23rd. BTIG Research increased their target price on PulteGroup from $139.00 to $156.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Bank of America boosted their price target on PulteGroup from $138.00 to $160.00 and gave the stock a "buy" rating in a report on Thursday, September 19th. Finally, Wedbush restated a "neutral" rating and issued a $115.00 price objective on shares of PulteGroup in a research report on Tuesday, October 22nd. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $145.00.

PulteGroup Company Profile

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.