Vision Capital Corp Invests $22.35 Million in PulteGroup, Inc. (NYSE:PHM)

Vision Capital Corp acquired a new stake in shares of PulteGroup, Inc. (NYSE:PHM) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 155,700 shares of the construction company’s stock, valued at approximately $22,348,000. PulteGroup makes up 3.6% of Vision Capital Corp’s holdings, making the stock its 8th biggest position.

Several other large investors also recently added to or reduced their stakes in the stock. Greenhaven Associates Inc. increased its holdings in PulteGroup by 0.3% during the 3rd quarter. Greenhaven Associates Inc. now owns 5,593,179 shares of the construction company’s stock worth $802,789,000 after purchasing an additional 16,871 shares during the period. Pacer Advisors Inc. raised its holdings in shares of PulteGroup by 8.6% in the second quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock valued at $326,864,000 after acquiring an additional 235,826 shares in the last quarter. Hsbc Holdings PLC grew its holdings in PulteGroup by 19.6% during the 2nd quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock worth $168,254,000 after acquiring an additional 250,937 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of PulteGroup by 6.3% in the 3rd quarter. Victory Capital Management Inc. now owns 1,025,276 shares of the construction company’s stock valued at $147,158,000 after acquiring an additional 60,854 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in shares of PulteGroup by 35.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 861,487 shares of the construction company’s stock worth $123,649,000 after acquiring an additional 223,841 shares in the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Price Performance

PHM opened at $131.99 on Monday. The firm has a market cap of $27.07 billion, a price-to-earnings ratio of 9.57, a PEG ratio of 0.53 and a beta of 1.63. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.14. The stock’s 50-day moving average price is $136.74 and its 200 day moving average price is $125.90. PulteGroup, Inc. has a 12-month low of $86.59 and a 12-month high of $149.47.

PulteGroup (NYSE:PHM) last posted its 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. The firm had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.27 billion. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The firm’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.90 earnings per share. As a group, sell-side analysts expect that PulteGroup, Inc. will post 12.94 earnings per share 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 paid a dividend of $0.22 per share. The ex-dividend date is Tuesday, December 17th. This represents a $0.88 dividend on an annualized basis and a yield of 0.67%. This is a boost from PulteGroup’s previous quarterly dividend of $0.20. PulteGroup’s dividend payout ratio is currently 5.90%.

Insiders Place Their Bets

In related news, Director Thomas J. Folliard sold 19,000 shares of PulteGroup stock in a transaction on 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 transaction, the director now directly owns 45,230 shares in the company, valued at $5,931,462.20. This trade represents a 29.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.75% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Bank of America boosted their target price on shares of PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Wolfe Research lowered shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Wedbush reaffirmed a “neutral” rating and set a $115.00 price target on shares of PulteGroup in a research report on Tuesday, October 22nd. UBS Group raised their price objective on PulteGroup from $148.00 to $154.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Evercore ISI dropped their target price on PulteGroup from $198.00 to $195.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $145.00.

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.