Axecap Investments LLC Buys New Holdings in PulteGroup, Inc. (NYSE:PHM)

Axecap Investments LLC bought a new stake in PulteGroup, Inc. (NYSE:PHM) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 20,730 shares of the construction company’s stock, valued at approximately $2,975,000. PulteGroup makes up approximately 2.3% of Axecap Investments LLC’s investment portfolio, making the stock its 20th biggest position.

A number of other large investors have also modified their holdings of the company. Greenhaven Associates Inc. raised its stake in PulteGroup by 0.3% during the third quarter. Greenhaven Associates Inc. now owns 5,593,179 shares of the construction company’s stock worth $802,789,000 after acquiring an additional 16,871 shares in the last quarter. Pacer Advisors Inc. raised its stake in PulteGroup by 8.6% during the second quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock worth $326,864,000 after acquiring an additional 235,826 shares in the last quarter. Hsbc Holdings PLC raised its stake in PulteGroup by 19.6% during the second 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. Captrust Financial Advisors raised its stake in PulteGroup by 18.4% during the first quarter. Captrust Financial Advisors now owns 1,085,939 shares of the construction company’s stock worth $130,986,000 after acquiring an additional 168,746 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in PulteGroup by 5.9% during the second quarter. Victory Capital Management Inc. now owns 964,422 shares of the construction company’s stock worth $106,183,000 after acquiring an additional 53,924 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PHM shares. Oppenheimer dropped their price objective on PulteGroup from $168.00 to $165.00 and set an “outperform” rating for the company in a research note on Wednesday. Evercore ISI dropped 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. Barclays raised their target price on PulteGroup from $131.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Raymond James raised their target price on PulteGroup from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Wells Fargo & Company raised their target price on PulteGroup from $150.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. 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 presently has a consensus rating of “Moderate Buy” and an average price target of $145.00.

PulteGroup Price Performance

PulteGroup stock opened at $133.16 on Thursday. The business’s 50-day simple moving average is $136.67 and its 200 day simple moving average is $122.95. The stock has a market cap of $27.63 billion, a price-to-earnings ratio of 10.16, a P/E/G ratio of 0.61 and a beta of 1.62. PulteGroup, Inc. has a 12-month low of $68.80 and a 12-month high of $149.47. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.15.

PulteGroup (NYSE:PHM) last issued its earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.10 by $0.25. PulteGroup had a return on equity of 25.67% and a net margin of 16.75%. The firm had revenue of $4.48 billion for the quarter, compared to analysts’ expectations of $4.27 billion. During the same quarter last year, the business earned $2.90 earnings per share. The company’s revenue was up 11.8% compared to the same quarter last year. As a group, research analysts anticipate that PulteGroup, Inc. will post 12.9 earnings per share for the current year.

PulteGroup Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 17th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend was Tuesday, September 17th. PulteGroup’s dividend payout ratio (DPR) is currently 6.10%.

Insiders Place Their Bets

In other PulteGroup news, CFO Robert Oshaughnessy sold 28,993 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $129.29, for a total transaction of $3,748,504.97. Following the transaction, the chief financial officer now owns 160,330 shares in the company, valued at approximately $20,729,065.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Robert Oshaughnessy sold 28,993 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $129.29, for a total transaction of $3,748,504.97. Following the sale, the chief financial officer now owns 160,330 shares of the company’s stock, valued at $20,729,065.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Thomas J. Folliard sold 19,000 shares of the firm’s 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 sale, the director now directly owns 45,230 shares in the company, valued at approximately $5,931,462.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 119,000 shares of company stock worth $15,814,039. Insiders own 0.83% of the company’s stock.

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.