PulteGroup, Inc. (NYSE:PHM) Shares Purchased by New Millennium Group LLC

New Millennium Group LLC lifted its position in shares of PulteGroup, Inc. (NYSE:PHM) by 10,625.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 9,546 shares of the construction company’s stock after buying an additional 9,457 shares during the period. PulteGroup accounts for approximately 0.9% of New Millennium Group LLC’s portfolio, making the stock its 27th largest holding. New Millennium Group LLC’s holdings in PulteGroup were worth $1,370,000 at the end of the most recent quarter.

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

PulteGroup Stock Down 1.2 %

Shares of PHM stock opened at $127.00 on Tuesday. The firm’s fifty day moving average price is $137.23 and its two-hundred day moving average price is $125.57. PulteGroup, Inc. has a 1 year low of $86.59 and a 1 year high of $149.47. 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 firm has a market capitalization of $26.05 billion, a P/E ratio of 9.48, a PEG ratio of 0.52 and a beta of 1.63.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data 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 25.30% and a net margin of 16.64%. The company had revenue of $4.48 billion for the quarter, compared to analysts’ expectations of $4.27 billion. During the same quarter in the prior year, the business posted $2.90 EPS. The business’s revenue was up 11.8% compared to the same quarter last year. On average, equities analysts predict that PulteGroup, Inc. will post 12.94 EPS for the current fiscal year.

PulteGroup Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 17th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This is a positive change from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.69%. PulteGroup’s payout ratio is presently 5.90%.

Analysts Set New Price Targets

Several equities analysts have weighed in on PHM shares. Wedbush restated a “neutral” rating and set a $115.00 target price on shares of PulteGroup in a report on Tuesday, October 22nd. Barclays boosted their price target on shares of PulteGroup from $131.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Wolfe Research downgraded PulteGroup from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. BTIG Research upped their target price on shares of PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Evercore ISI decreased their price objective 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. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.00.

Insider Activity at PulteGroup

In other news, CFO Robert Oshaughnessy sold 71,007 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $134.83, for a total value of $9,573,873.81. Following the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Thomas J. Folliard sold 19,000 shares of the 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 completion of the transaction, the director now owns 45,230 shares of the company’s stock, valued at $5,931,462.20. The trade was a 29.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.75% of the stock is owned by company insiders.

About PulteGroup

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.