Franklin Resources Inc. increased its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 5.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,254,274 shares of the construction company's stock after purchasing an additional 585,735 shares during the quarter. Franklin Resources Inc. owned 5.49% of PulteGroup worth $1,647,364,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. WR Wealth Planners LLC lifted 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 last quarter. Fortitude Family Office LLC raised its holdings in shares of PulteGroup by 115.1% in the 3rd 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 during the period. Transcendent Capital Group LLC acquired a new position in PulteGroup during the 3rd quarter worth about $29,000. Rothschild Investment LLC purchased a new stake in PulteGroup during the second quarter worth about $31,000. Finally, Candriam S.C.A. acquired a new stake in shares of PulteGroup during the second quarter worth about $33,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.
PulteGroup Stock Performance
Shares of PHM traded down $2.27 during mid-day trading on Friday, reaching $118.42. 2,174,518 shares of the company's stock were exchanged, compared to its average volume of 1,826,453. The business's fifty day simple moving average is $133.50 and its 200-day simple moving average is $127.11. The stock has a market capitalization of $24.29 billion, a PE ratio of 8.72, a price-to-earnings-growth ratio of 0.50 and a beta of 1.62. PulteGroup, Inc. has a 52-week low of $99.03 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 announced its earnings results 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 business 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 business's revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.90 earnings per share. On average, equities research analysts expect that PulteGroup, Inc. will post 12.94 earnings per share for the current year.
PulteGroup Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.74%. The ex-dividend date is Tuesday, December 17th. This is a boost from PulteGroup's previous quarterly dividend of $0.20. PulteGroup's dividend payout ratio is 6.49%.
Wall Street Analyst Weigh In
PHM has been the topic of a number of research reports. BTIG Research increased their target price on shares of PulteGroup from $139.00 to $156.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Wedbush reissued a "neutral" rating and set a $115.00 target price on shares of PulteGroup in a research note on Tuesday, October 22nd. Evercore ISI decreased their price objective on PulteGroup from $198.00 to $195.00 and set an "outperform" rating for the company in a research note on Wednesday, October 23rd. Barclays reaffirmed an "equal weight" rating and issued a $140.00 target price (down previously from $150.00) on shares of PulteGroup in a report on Wednesday. Finally, UBS Group raised their price objective on shares of PulteGroup from $148.00 to $154.00 and gave the company a "neutral" rating in a report on Wednesday, October 23rd. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, PulteGroup presently has a consensus rating of "Moderate Buy" and a consensus target price of $144.50.
Check Out Our Latest Stock Analysis on PHM
About PulteGroup
(
Free Report)
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.
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