Premier Path Wealth Partners LLC Raises Position in PulteGroup, Inc. (NYSE:PHM)

Premier Path Wealth Partners LLC increased its holdings in PulteGroup, Inc. (NYSE:PHM) by 3.8% during the fourth quarter, Holdings Channel reports. The firm owned 2,572 shares of the construction company’s stock after acquiring an additional 95 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in PulteGroup were worth $280,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PHM. Fortitude Family Office LLC grew its stake 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 acquiring an additional 99 shares in the last quarter. Transcendent Capital Group LLC purchased a new position in shares of PulteGroup during the third quarter valued at about $29,000. JNBA Financial Advisors bought a new stake in shares of PulteGroup in the third quarter worth about $43,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of PulteGroup by 1,059.3% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 313 shares of the construction company’s stock worth $45,000 after buying an additional 286 shares in the last quarter. Finally, Grove Bank & Trust boosted its stake in PulteGroup by 18.4% during the third quarter. Grove Bank & Trust now owns 463 shares of the construction company’s stock valued at $66,000 after buying an additional 72 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on PHM. BTIG Research lifted their price objective on PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group reduced their price target on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Wells Fargo & Company lowered their price objective on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. JPMorgan Chase & Co. reduced their target price on shares of PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a report on Friday, December 13th. Finally, Wedbush raised shares of PulteGroup from a “neutral” rating to an “outperform” rating and set a $135.00 price target for the company in a report on Friday, January 3rd. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.14.

PulteGroup Price Performance

PHM opened at $117.11 on Monday. The business has a fifty day moving average of $120.34 and a 200 day moving average of $127.17. The stock has a market cap of $24.02 billion, a P/E ratio of 8.64, a PEG ratio of 0.43 and a beta of 1.67. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.14. PulteGroup, Inc. has a 52-week low of $100.24 and a 52-week high of $149.47.

PulteGroup (NYSE:PHM) last posted 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 firm had revenue of $4.48 billion for the quarter, compared to analysts’ expectations of $4.27 billion. During the same period in the prior year, the business posted $2.90 earnings per share. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, sell-side analysts anticipate that PulteGroup, Inc. will post 12.96 EPS for the current year.

PulteGroup Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was 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 0.75%. PulteGroup’s dividend payout ratio (DPR) is 6.49%.

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.