Financial Advocates Investment Management Buys New Holdings in PulteGroup, Inc. (NYSE:PHM)

Financial Advocates Investment Management bought a new stake in PulteGroup, Inc. (NYSE:PHM - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 14,212 shares of the construction company's stock, valued at approximately $2,040,000.

A number of other institutional investors also recently bought and sold shares of the company. Swedbank AB purchased a new stake in PulteGroup in the first quarter worth about $68,985,000. Hsbc Holdings PLC increased its position in PulteGroup by 19.6% in the second quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company's stock worth $168,254,000 after buying an additional 250,937 shares in the last quarter. Pacer Advisors Inc. increased its position in PulteGroup by 8.6% in the second quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company's stock worth $326,864,000 after buying an additional 235,826 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of PulteGroup by 35.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 861,487 shares of the construction company's stock worth $123,649,000 after purchasing an additional 223,841 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in PulteGroup by 130.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 388,298 shares of the construction company's stock valued at $46,837,000 after purchasing an additional 219,609 shares during the period. Institutional investors own 89.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Wells Fargo & Company lifted their price objective 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. Bank of America lifted their price objective on shares of PulteGroup from $138.00 to $160.00 and gave the stock a "buy" rating in a research note on Thursday, September 19th. Evercore ISI lowered their target price on shares of PulteGroup from $198.00 to $195.00 and set an "outperform" rating for the company in a report on Wednesday, October 23rd. Oppenheimer lowered their target price on shares of PulteGroup from $168.00 to $165.00 and set an "outperform" rating for the company in a report on Wednesday, October 23rd. Finally, Wolfe Research lowered shares of PulteGroup from an "outperform" rating to a "peer perform" rating in a report on Wednesday, August 14th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, PulteGroup currently has a consensus rating of "Moderate Buy" and a consensus price target of $145.00.

Insider Activity at PulteGroup

In related news, Director Thomas J. Folliard sold 19,000 shares of the company's stock in a transaction dated Wednesday, August 28th. The shares were 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 owns 45,230 shares of the company's stock, valued at approximately $5,931,462.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 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 transaction, 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Thomas J. Folliard sold 19,000 shares of the stock in a transaction dated 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 sale, the director now directly owns 45,230 shares in the company, valued at $5,931,462.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.83% of the stock is currently owned by insiders.

PulteGroup Stock Performance

Shares of PHM traded down $1.15 during trading hours on Friday, hitting $128.38. The stock had a trading volume of 1,809,912 shares, compared to its average volume of 1,841,831. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73. The firm has a 50-day moving average price of $137.45 and a 200 day moving average price of $123.69. PulteGroup, Inc. has a fifty-two week low of $79.18 and a fifty-two week high of $149.47. The firm has a market capitalization of $26.33 billion, a price-to-earnings ratio of 9.55, a PEG ratio of 0.53 and a beta of 1.62.

PulteGroup (NYSE:PHM - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, topping analysts' consensus estimates of $3.10 by $0.25. The company had revenue of $4.48 billion during 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%. The firm's revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.90 earnings per share. As a group, research analysts anticipate that PulteGroup, Inc. will post 12.92 EPS for the current year.

PulteGroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 17th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date was Tuesday, September 17th. PulteGroup's payout ratio is 5.90%.

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.