Barden Capital Management Inc. Invests $1.17 Million in PulteGroup, Inc. (NYSE:PHM)

Barden Capital Management Inc. bought a new position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 8,127 shares of the construction company's stock, valued at approximately $1,166,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its position in PulteGroup by 35.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 861,487 shares of the construction company's stock valued at $123,649,000 after buying an additional 223,841 shares during the period. Vest Financial LLC raised its position in PulteGroup by 4.6% during the third quarter. Vest Financial LLC now owns 10,477 shares of the construction company's stock valued at $1,504,000 after buying an additional 458 shares during the period. OLD National Bancorp IN raised its position in PulteGroup by 5.0% during the third quarter. OLD National Bancorp IN now owns 3,319 shares of the construction company's stock valued at $476,000 after buying an additional 157 shares during the period. Blue Trust Inc. raised its position in PulteGroup by 26.9% during the third quarter. Blue Trust Inc. now owns 5,945 shares of the construction company's stock valued at $853,000 after buying an additional 1,262 shares during the period. Finally, Inspire Advisors LLC raised its position in PulteGroup by 199.6% during the third quarter. Inspire Advisors LLC now owns 6,655 shares of the construction company's stock valued at $955,000 after buying an additional 4,434 shares during the period. 89.90% of the stock is owned by institutional investors and hedge funds.

PulteGroup Stock Performance

NYSE:PHM traded down $4.78 during mid-day trading on Monday, hitting $144.26. 2,390,488 shares of the company's stock traded hands, compared to its average volume of 1,824,874. The firm has a 50 day moving average of $135.79 and a two-hundred day moving average of $122.54. PulteGroup, Inc. has a 12 month low of $68.80 and a 12 month high of $149.47. The firm has a market capitalization of $30.34 billion, a price-to-earnings ratio of 11.57, a price-to-earnings-growth ratio of 0.58 and a beta of 1.62. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.15.

PulteGroup (NYSE:PHM - Get Free Report) last announced its earnings results on Tuesday, July 23rd. The construction company reported $3.83 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.56. The firm had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.49 billion. PulteGroup had a return on equity of 25.67% and a net margin of 16.75%. The firm's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.00 EPS. On average, equities analysts forecast that PulteGroup, Inc. will post 12.9 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 17th were issued a $0.20 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.80 annualized dividend and a yield of 0.55%. PulteGroup's dividend payout ratio (DPR) is 6.41%.

Wall Street Analyst Weigh In

A number of research analysts have commented on PHM shares. Evercore ISI boosted their target price on PulteGroup from $183.00 to $189.00 and gave the company an "outperform" rating in a research note on Monday, July 15th. BTIG Research boosted their target price on PulteGroup from $133.00 to $139.00 and gave the company a "buy" rating in a research note on Wednesday, July 24th. Oppenheimer boosted their target price on PulteGroup from $151.00 to $168.00 and gave the company an "outperform" rating in a research note on Wednesday, October 2nd. Wolfe Research downgraded PulteGroup from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, August 14th. Finally, Barclays boosted their target price on PulteGroup from $131.00 to $150.00 and gave the company an "overweight" rating in a research note on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $141.14.

Insider Buying and Selling at PulteGroup

In other PulteGroup news, Director Thomas J. Folliard sold 19,000 shares of the company's stock in a transaction that occurred 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 transaction, the director now owns 45,230 shares of the company's stock, valued at $5,931,462.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Robert Oshaughnessy sold 28,993 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $129.29, for a total value of $3,748,504.97. Following the completion of the transaction, the chief financial officer now directly owns 160,330 shares of the company's stock, valued at approximately $20,729,065.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Thomas J. Folliard sold 19,000 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 45,230 shares of the company's stock, valued at approximately $5,931,462.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 119,000 shares of company stock valued at $15,814,039 in the last quarter. Corporate insiders own 0.83% of the company's stock.

PulteGroup 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.