South Street Advisors LLC Acquires Shares of 1,700 PulteGroup, Inc. (NYSE:PHM)

South Street Advisors LLC acquired a new stake in shares of PulteGroup, Inc. (NYSE:PHM) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,700 shares of the construction company’s stock, valued at approximately $244,000.

A number of other large investors have also recently added to or reduced their stakes in PHM. WR Wealth Planners LLC boosted 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 acquiring an additional 82 shares during the last quarter. Fortitude Family Office LLC boosted its stake in PulteGroup by 115.1% during the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock valued at $27,000 after acquiring an additional 99 shares during the last quarter. LRI Investments LLC bought a new position in shares of PulteGroup in the 1st quarter worth about $28,000. Transcendent Capital Group LLC acquired a new position in shares of PulteGroup in the 3rd quarter valued at about $29,000. Finally, Rothschild Investment LLC acquired a new position in shares of PulteGroup in the 2nd quarter valued at about $31,000. 89.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PHM has been the subject of several research reports. Raymond James lifted their price target on shares of PulteGroup from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. 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 report on Wednesday, July 24th. Evercore ISI decreased their price target 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. Bank of America lifted their price target 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, Wells Fargo & Company lifted their price target on shares of PulteGroup from $150.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, PulteGroup has an average rating of “Moderate Buy” and a consensus target price of $145.00.

PulteGroup Price Performance

Shares of PHM stock traded down $0.55 during midday trading on Friday, reaching $128.89. 1,509,994 shares of the company were exchanged, compared to its average volume of 1,839,799. PulteGroup, Inc. has a 12 month low of $86.59 and a 12 month high of $149.47. The company has a market cap of $26.43 billion, a P/E ratio of 9.51, a PEG ratio of 0.52 and a beta of 1.63. The company’s 50 day moving average price is $137.29 and its two-hundred day moving average price is $125.27. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.25. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The company had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.27 billion. During the same period in the previous year, the firm earned $2.90 EPS. PulteGroup’s revenue was up 11.8% on a year-over-year basis. On average, 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 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 0.68%. This is a boost from PulteGroup’s previous quarterly dividend of $0.20. PulteGroup’s payout ratio is currently 5.90%.

Insider Transactions at PulteGroup

In other news, Director Thomas J. Folliard sold 19,000 shares of PulteGroup stock in a transaction that occurred 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 of the company’s stock, valued at $5,931,462.20. This trade represents a 29.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction of $9,573,873.81. Following the completion of the transaction, the chief financial officer now directly owns 89,323 shares in the company, valued at approximately $12,043,420.09. This trade represents a 44.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.83% of the company’s stock.

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.