Zurcher Kantonalbank Zurich Cantonalbank Raises Holdings in PulteGroup, Inc. (NYSE:PHM)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in PulteGroup, Inc. (NYSE:PHM - Free Report) by 357.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 521,958 shares of the construction company's stock after purchasing an additional 407,764 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.25% of PulteGroup worth $74,917,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Fortitude Family Office LLC increased its position in PulteGroup by 115.1% in the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company's stock worth $27,000 after buying an additional 99 shares during the period. Transcendent Capital Group LLC bought a new position in PulteGroup during the third quarter worth $29,000. 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 valued at $26,000 after purchasing an additional 82 shares during the last quarter. LRI Investments LLC bought a new stake in PulteGroup in the 1st quarter valued at $28,000. Finally, Rothschild Investment LLC bought a new stake in PulteGroup in the 2nd quarter valued at $31,000. 89.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PHM has been the subject of several recent research reports. Bank of America upped their price target on PulteGroup from $138.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, September 19th. Wolfe Research lowered PulteGroup from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, August 14th. Wells Fargo & Company boosted their target price on PulteGroup from $150.00 to $165.00 and gave the stock an "overweight" rating in a research report on Monday, October 7th. 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. Finally, Oppenheimer cut their target price on shares of PulteGroup from $168.00 to $165.00 and set an "outperform" rating on the stock in a report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $145.00.

PulteGroup Stock Up 0.7 %

PHM traded up $0.93 during mid-day trading on Thursday, reaching $136.53. 1,271,098 shares of the stock were exchanged, compared to its average volume of 1,829,449. PulteGroup, Inc. has a 1 year low of $86.59 and a 1 year high of $149.47. 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 stock has a market capitalization of $28.00 billion, a PE ratio of 10.07, a price-to-earnings-growth ratio of 0.56 and a beta of 1.63. The company has a 50 day moving average price of $136.51 and a two-hundred day moving average price of $126.25.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.25. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The business had revenue of $4.48 billion for the quarter, compared to analysts' expectations of $4.27 billion. During the same period in the previous year, the company earned $2.90 earnings per share. The firm's revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, research analysts anticipate 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 given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.64%. This is an increase from PulteGroup's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Tuesday, December 17th. PulteGroup's dividend payout ratio (DPR) is presently 6.49%.

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.