1,674 Shares in PulteGroup, Inc. (NYSE:PHM) Purchased by Brown Capital Management LLC

Brown Capital Management LLC purchased a new stake in PulteGroup, Inc. (NYSE:PHM) during the third quarter, HoldingsChannel.com reports. The firm purchased 1,674 shares of the construction company’s stock, valued at approximately $240,000.

Other hedge funds have also recently bought and sold shares of the company. Greenhaven Associates Inc. grew its position in shares of PulteGroup by 0.3% in the third quarter. Greenhaven Associates Inc. now owns 5,593,179 shares of the construction company’s stock valued at $802,789,000 after purchasing an additional 16,871 shares during the last quarter. Pacer Advisors Inc. boosted its stake in PulteGroup by 8.6% in the 2nd quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock valued at $326,864,000 after purchasing an additional 235,826 shares during the period. Hsbc Holdings PLC grew its holdings in PulteGroup by 19.6% in the 2nd quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock valued at $168,254,000 after buying an additional 250,937 shares in the last quarter. Captrust Financial Advisors increased its position in PulteGroup by 18.4% during the 1st quarter. Captrust Financial Advisors now owns 1,085,939 shares of the construction company’s stock worth $130,986,000 after buying an additional 168,746 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of PulteGroup by 6.3% during the third quarter. Victory Capital Management Inc. now owns 1,025,276 shares of the construction company’s stock worth $147,158,000 after buying an additional 60,854 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Stock Performance

Shares of PulteGroup stock opened at $128.06 on Thursday. The company’s 50 day moving average price is $137.07 and its two-hundred day moving average price is $125.67. The firm has a market capitalization of $26.26 billion, a P/E ratio of 9.44, a P/E/G ratio of 0.52 and a beta of 1.63. PulteGroup, Inc. has a fifty-two week low of $86.59 and a fifty-two 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) last released its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.25. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The company had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.27 billion. During the same quarter last year, the business posted $2.90 EPS. PulteGroup’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, equities analysts forecast that PulteGroup, Inc. will post 12.94 earnings per share for the current fiscal year.

PulteGroup Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th will be paid a $0.22 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $0.88 annualized dividend and a dividend yield of 0.69%. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. PulteGroup’s dividend payout ratio is currently 5.90%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wells Fargo & Company upped their price target on shares of PulteGroup from $150.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Oppenheimer lowered 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. Evercore ISI cut their price target 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 increased their price target on PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, BTIG Research increased their target price on PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.00.

Insider Activity at PulteGroup

In related news, CFO Robert Oshaughnessy sold 71,007 shares of PulteGroup stock in a transaction that occurred on Friday, August 23rd. The stock was 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 directly owns 89,323 shares of the company’s stock, valued at $12,043,420.09. The trade was a 44.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas J. Folliard sold 19,000 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 45,230 shares of the company’s stock, valued at $5,931,462.20. This represents a 29.58 % decrease in their position. The disclosure for this sale can be found here. 0.83% of the stock is owned by company insiders.

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.