Sound Income Strategies LLC Purchases New Stake in PulteGroup, Inc. (NYSE:PHM)

Sound Income Strategies LLC bought a new stake in PulteGroup, Inc. (NYSE:PHM) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,577 shares of the construction company’s stock, valued at approximately $226,000.

A number of other hedge funds and other institutional investors have also modified their holdings of PHM. V Square Quantitative Management LLC raised its stake in PulteGroup by 25.2% during the fourth quarter. V Square Quantitative Management LLC now owns 4,785 shares of the construction company’s stock worth $494,000 after purchasing an additional 962 shares during the period. Centaurus Financial Inc. acquired a new position in PulteGroup in the fourth quarter valued at approximately $153,000. Syon Capital LLC grew its position in PulteGroup by 10.5% in the fourth quarter. Syon Capital LLC now owns 5,325 shares of the construction company’s stock worth $550,000 after acquiring an additional 507 shares during the period. American International Group Inc. increased its stake in PulteGroup by 1.8% during the fourth quarter. American International Group Inc. now owns 59,102 shares of the construction company’s stock worth $6,101,000 after acquiring an additional 1,048 shares during the last quarter. Finally, Scarborough Advisors LLC purchased a new stake in PulteGroup in the fourth quarter valued at $44,000. 89.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at PulteGroup

In other news, 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 value of $2,491,660.00. Following the transaction, the director now owns 45,230 shares in the company, valued at approximately $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 can be accessed through this link. In related news, Director Thomas J. Folliard sold 19,000 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $131.14, for a total transaction of $2,491,660.00. Following the completion of the sale, the director now owns 45,230 shares in the company, valued at $5,931,462.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert Oshaughnessy sold 71,007 shares of PulteGroup stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $134.83, for a total transaction of $9,573,873.81. Following the completion of the transaction, the chief financial officer now owns 89,323 shares in the company, valued at approximately $12,043,420.09. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 119,000 shares of company stock worth $15,814,039 over the last ninety days. Corporate insiders own 0.83% of the company’s stock.

PulteGroup Stock Performance

Shares of PHM opened at $139.20 on Monday. The stock has a 50-day simple moving average of $133.46 and a 200-day simple moving average of $121.55. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.76 and a current ratio of 0.76. PulteGroup, Inc. has a 1 year low of $68.80 and a 1 year high of $145.84. The stock has a market capitalization of $29.28 billion, a PE ratio of 11.14, a PEG ratio of 0.57 and a beta of 1.62.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, July 23rd. The construction company reported $3.83 EPS for the quarter, topping the consensus estimate of $3.27 by $0.56. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. The company had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.49 billion. During the same quarter in the previous year, the business posted $3.00 EPS. The firm’s revenue was up 9.8% on a year-over-year basis. On average, analysts predict that PulteGroup, Inc. will post 12.9 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Tuesday, September 17th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.57%. The ex-dividend date was Tuesday, September 17th. PulteGroup’s dividend payout ratio (DPR) is presently 6.41%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on PulteGroup from $150.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Royal Bank of Canada lifted their price target on shares of PulteGroup from $113.00 to $120.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 24th. Barclays upped their price objective on shares of PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Bank of America lifted their target price on shares of PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Finally, JPMorgan Chase & Co. upped their price target on PulteGroup from $141.00 to $152.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $141.14.

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.