PulteGroup, Inc. (NYSE:PHM) Shares Bought by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. increased its stake in PulteGroup, Inc. (NYSE:PHM) by 31.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,381 shares of the construction company’s stock after buying an additional 1,044 shares during the quarter. Meeder Advisory Services Inc.’s holdings in PulteGroup were worth $629,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Greenhaven Associates Inc. grew its position in PulteGroup by 0.3% in the third quarter. Greenhaven Associates Inc. now owns 5,593,179 shares of the construction company’s stock valued at $802,789,000 after acquiring an additional 16,871 shares in the last quarter. Pacer Advisors Inc. grew its holdings in PulteGroup by 8.6% during the 2nd quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock valued at $326,864,000 after purchasing an additional 235,826 shares in the last quarter. Hsbc Holdings PLC increased its stake in PulteGroup by 19.6% during the 2nd quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock worth $168,254,000 after buying an additional 250,937 shares during the period. Captrust Financial Advisors increased its stake in PulteGroup by 18.4% during the 1st quarter. Captrust Financial Advisors now owns 1,085,939 shares of the construction company’s stock worth $130,986,000 after buying an additional 168,746 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in PulteGroup by 6.3% in the 3rd quarter. Victory Capital Management Inc. now owns 1,025,276 shares of the construction company’s stock worth $147,158,000 after buying an additional 60,854 shares in the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PHM shares. Barclays lifted their target price on PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Bank of America upped their target price on PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Royal Bank of Canada raised their price target on shares of PulteGroup from $113.00 to $120.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 24th. Oppenheimer reduced their price objective on shares of PulteGroup from $168.00 to $165.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Finally, Wolfe Research downgraded shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, PulteGroup presently has a consensus rating of “Moderate Buy” and an average price target of $145.00.

Insider Activity at PulteGroup

In related news, CFO Robert Oshaughnessy sold 71,007 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 89,323 shares in the company, valued at $12,043,420.09. This trade represents a 44.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas J. Folliard sold 19,000 shares of the business’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 owns 45,230 shares of the company’s stock, valued at $5,931,462.20. This trade represents a 29.58 % decrease in their position. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by insiders.

PulteGroup Stock Performance

Shares of PHM stock opened at $128.51 on Wednesday. The company has a market cap of $26.35 billion, a P/E ratio of 9.48, a PEG ratio of 0.52 and a beta of 1.63. The business has a 50 day moving average of $137.23 and a two-hundred day moving average of $125.57. PulteGroup, Inc. has a 52 week low of $86.59 and a 52 week high of $149.47. 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 (NYSE:PHM) last released its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.10 by $0.25. The business had revenue of $4.48 billion during 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 revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.90 EPS. As a group, analysts anticipate that PulteGroup, Inc. will post 12.94 EPS for the current year.

PulteGroup Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 17th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend is Tuesday, December 17th. This is a boost from PulteGroup’s previous quarterly dividend of $0.20. PulteGroup’s dividend payout ratio (DPR) is 5.90%.

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.