Pine Valley Investments Ltd Liability Co Takes $234,000 Position in PulteGroup, Inc. (NYSE:PHM)

Pine Valley Investments Ltd Liability Co purchased a new position in shares of PulteGroup, Inc. (NYSE:PHM) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 1,628 shares of the construction company’s stock, valued at approximately $234,000.

A number of other institutional investors have also added to or reduced their stakes in the company. FMR LLC lifted its position in shares of PulteGroup by 102.3% during the 3rd quarter. FMR LLC now owns 9,040,828 shares of the construction company’s stock worth $1,297,630,000 after buying an additional 4,571,757 shares in the last quarter. Westfield Capital Management Co. LP purchased a new stake in shares of PulteGroup during the third quarter valued at approximately $66,485,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in PulteGroup by 357.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 521,958 shares of the construction company’s stock worth $74,917,000 after acquiring an additional 407,764 shares during the period. KBC Group NV boosted its position in PulteGroup by 1,020.0% in the third quarter. KBC Group NV now owns 435,925 shares of the construction company’s stock worth $62,568,000 after purchasing an additional 397,003 shares during the last quarter. Finally, Hsbc Holdings PLC grew its stake 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 purchasing an additional 250,937 shares during the period. 89.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PHM has been the topic of a number of recent analyst reports. Oppenheimer lowered their target price on PulteGroup from $168.00 to $165.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. lowered their price objective on shares of PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a research report on Friday. Wedbush reissued a “neutral” rating and set a $115.00 target price on shares of PulteGroup in a research report on Tuesday, October 22nd. Wells Fargo & Company raised their price target on shares of PulteGroup from $150.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Finally, Bank of America upped their price objective on PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $144.50.

PulteGroup Trading Down 1.9 %

Shares of PHM opened at $118.44 on Friday. PulteGroup, Inc. has a twelve month low of $99.03 and a twelve month high of $149.47. The stock has a market cap of $24.29 billion, a PE ratio of 8.73, a P/E/G ratio of 0.50 and a beta of 1.62. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.14. The business’s 50-day moving average price is $133.08 and its 200-day moving average price is $127.14.

PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.25. The business had revenue of $4.48 billion for the quarter, compared to analysts’ expectations of $4.27 billion. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.90 EPS. On average, equities analysts forecast that PulteGroup, Inc. will post 12.94 EPS for the current fiscal year.

PulteGroup Increases Dividend

The firm also recently disclosed 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. This is a positive change from PulteGroup’s previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, December 17th. This represents a $0.88 annualized dividend and a yield of 0.74%. PulteGroup’s dividend payout ratio (DPR) is currently 6.49%.

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.