Baker Avenue Asset Management LP Makes New Investment in PulteGroup, Inc. (NYSE:PHM)

Baker Avenue Asset Management LP acquired a new position in shares of PulteGroup, Inc. (NYSE:PHM) during the 3rd quarter, Holdings Channel reports. The firm acquired 2,874 shares of the construction company’s stock, valued at approximately $413,000.

A number of other institutional investors have also made changes to their positions in PHM. Colonial River Investments LLC acquired a new position in PulteGroup during the 3rd quarter valued at approximately $433,000. Axxcess Wealth Management LLC raised its position in shares of PulteGroup by 100.3% during the third quarter. Axxcess Wealth Management LLC now owns 6,009 shares of the construction company’s stock worth $862,000 after purchasing an additional 3,009 shares during the period. Sigma Planning Corp acquired a new position in PulteGroup during the third quarter valued at $259,000. Transcendent Capital Group LLC acquired a new position in PulteGroup in the 3rd quarter worth about $29,000. Finally, Covestor Ltd increased its position in PulteGroup by 186.0% in the 3rd quarter. Covestor Ltd now owns 981 shares of the construction company’s stock worth $141,000 after purchasing an additional 638 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors.

Insider Transactions at PulteGroup

In other news, Director Thomas J. Folliard sold 19,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was 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 in the company, valued at $5,931,462.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Robert Oshaughnessy sold 71,007 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $134.83, for a total value of $9,573,873.81. Following the transaction, the chief financial officer now directly owns 89,323 shares in the company, valued at $12,043,420.09. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas J. Folliard sold 19,000 shares of PulteGroup stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total value of $2,491,660.00. Following the transaction, the director now owns 45,230 shares in the company, valued at approximately $5,931,462.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.83% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Oppenheimer decreased their price target on PulteGroup from $168.00 to $165.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Raymond James upped their price target on 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 upped their price target on PulteGroup from $113.00 to $120.00 and gave the company a “sector perform” rating in a report on Wednesday, July 24th. BTIG Research upped their price target on PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Bank of America upped their price target on PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.00.

PulteGroup Stock Up 0.6 %

Shares of PHM opened at $133.46 on Tuesday. The firm has a market capitalization of $27.37 billion, a price-to-earnings ratio of 9.84, a PEG ratio of 0.54 and a beta of 1.63. 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 business’s fifty day moving average price is $137.27 and its two-hundred day moving average price is $124.86. PulteGroup, Inc. has a 52 week low of $81.00 and a 52 week high of $149.47.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, beating analysts’ consensus estimates of $3.10 by $0.25. The firm had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.27 billion. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period last year, the company earned $2.90 EPS. On average, analysts predict that PulteGroup, Inc. will post 12.94 earnings per share for the current year.

PulteGroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 17th were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.80 annualized dividend and a dividend yield of 0.60%. PulteGroup’s dividend payout ratio is currently 5.90%.

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.