Segment Wealth Management LLC Buys New Position in PulteGroup, Inc. (NYSE:PHM)

Segment Wealth Management LLC purchased a new stake in PulteGroup, Inc. (NYSE:PHM - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 88,292 shares of the construction company's stock, valued at approximately $12,673,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. WR Wealth Planners LLC raised its stake in PulteGroup by 54.7% during 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 in the last quarter. LRI Investments LLC acquired a new stake in shares of PulteGroup during the first quarter worth about $28,000. Rothschild Investment LLC purchased a new stake in shares of PulteGroup in the 2nd quarter valued at about $31,000. Candriam S.C.A. purchased a new stake in shares of PulteGroup in the 2nd quarter valued at about $33,000. Finally, Continuum Advisory LLC boosted its position in shares of PulteGroup by 94.5% in the 2nd quarter. Continuum Advisory LLC now owns 317 shares of the construction company's stock valued at $35,000 after purchasing an additional 154 shares during the period. Institutional investors and hedge funds own 89.90% of the company's stock.

Analyst Upgrades and Downgrades

PHM has been the subject of a number of research reports. Wolfe Research cut PulteGroup from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, August 14th. Wedbush reiterated a "neutral" rating and issued a $115.00 price target on shares of PulteGroup in a research report on Tuesday. Evercore ISI raised their price objective on shares of PulteGroup from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Monday, July 15th. Raymond James upped their target price on shares of PulteGroup from $135.00 to $145.00 and gave the company an "outperform" rating in a report on Thursday, July 25th. Finally, Barclays raised their price target on PulteGroup from $131.00 to $150.00 and gave the stock an "overweight" rating in a report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, PulteGroup has a consensus rating of "Moderate Buy" and an average price target of $142.14.

PulteGroup Stock Down 7.3 %

PulteGroup stock opened at $133.78 on Wednesday. The stock's 50 day moving average price is $136.45 and its 200 day moving average price is $122.87. PulteGroup, Inc. has a 1-year low of $68.80 and a 1-year high of $149.47. The company has a market cap of $27.76 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 0.61 and a beta of 1.62. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.76 and a quick ratio of 0.76.

PulteGroup (NYSE:PHM - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, topping 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 16.75% and a return on equity of 25.67%. The business's revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.90 EPS. On average, sell-side analysts predict that PulteGroup, Inc. will post 12.9 EPS for the current fiscal year.

PulteGroup Announces Dividend

The business also recently announced 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 of this dividend was Tuesday, September 17th. This represents a $0.80 dividend on an annualized basis and a yield of 0.60%. PulteGroup's dividend payout ratio (DPR) is presently 6.10%.

Insider Activity

In related news, Director Thomas J. Folliard sold 19,000 shares of the firm'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 directly owns 45,230 shares of the company's stock, valued at $5,931,462.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other PulteGroup news, CFO Robert Oshaughnessy sold 71,007 shares of the company's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $134.83, for a total value of $9,573,873.81. Following the sale, the chief financial officer now owns 89,323 shares of the company's stock, valued at $12,043,420.09. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas J. Folliard sold 19,000 shares of the firm'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 transaction of $2,491,660.00. Following the transaction, the director now directly owns 45,230 shares of the company's stock, valued at approximately $5,931,462.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 119,000 shares of company stock worth $15,814,039. Company insiders own 0.83% of the company's stock.

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.