Toronto Dominion Bank Has $10.67 Million Position in PulteGroup, Inc. (NYSE:PHM)

Toronto Dominion Bank lessened its holdings in PulteGroup, Inc. (NYSE:PHM) by 9.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 74,314 shares of the construction company’s stock after selling 7,985 shares during the period. Toronto Dominion Bank’s holdings in PulteGroup were worth $10,666,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of PHM. WR Wealth Planners LLC grew 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 in the last quarter. Fortitude Family Office LLC grew its position in PulteGroup by 115.1% during the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock valued at $27,000 after purchasing an additional 99 shares in the last quarter. Transcendent Capital Group LLC purchased a new position in PulteGroup during the third quarter valued at approximately $29,000. Rothschild Investment LLC acquired a new position in PulteGroup in the 2nd quarter valued at approximately $31,000. Finally, Candriam S.C.A. purchased a new stake in PulteGroup in the 2nd quarter worth approximately $33,000. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Wedbush reaffirmed a “neutral” rating and issued a $115.00 price target on shares of PulteGroup in a research note on Tuesday, October 22nd. Wells Fargo & Company upped their target price on PulteGroup from $150.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. UBS Group raised their price target on PulteGroup from $148.00 to $154.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. BTIG Research boosted their price target on PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Oppenheimer cut their price objective on shares of PulteGroup from $168.00 to $165.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $144.50.

PulteGroup Price Performance

PulteGroup stock opened at $118.44 on Friday. The business’s fifty day moving average is $133.08 and its two-hundred day moving average is $127.14. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73. The firm has a market cap of $24.29 billion, a P/E ratio of 8.73, a P/E/G ratio of 0.50 and a beta of 1.62. PulteGroup, Inc. has a 52 week low of $99.03 and a 52 week high of $149.47.

PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $4.27 billion. During the same quarter in the previous year, the company earned $2.90 EPS. PulteGroup’s revenue was up 11.8% on a year-over-year basis. Equities research analysts forecast that PulteGroup, Inc. will post 12.94 earnings per share for the current fiscal year.

PulteGroup Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th will be issued 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 0.74%. This is a boost from PulteGroup’s previous quarterly dividend of $0.20. PulteGroup’s dividend payout ratio (DPR) is 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.