Pinnacle Wealth Management Advisory Group LLC Boosts Stake in PulteGroup, Inc. (NYSE:PHM)

Pinnacle Wealth Management Advisory Group LLC lifted its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 6.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,532 shares of the construction company’s stock after acquiring an additional 202 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in PulteGroup were worth $365,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PHM. Strs Ohio lifted its position in shares of PulteGroup by 1.2% during the third quarter. Strs Ohio now owns 76,791 shares of the construction company’s stock worth $5,686,000 after purchasing an additional 910 shares during the last quarter. Advisor Partners II LLC grew its position in shares of PulteGroup by 1.5% in the 3rd quarter. Advisor Partners II LLC now owns 11,998 shares of the construction company’s stock worth $888,000 after acquiring an additional 182 shares in the last quarter. Inspire Investing LLC raised its position in shares of PulteGroup by 65.4% during the 3rd quarter. Inspire Investing LLC now owns 13,394 shares of the construction company’s stock valued at $992,000 after acquiring an additional 5,295 shares in the last quarter. TD Asset Management Inc increased its stake in PulteGroup by 44.1% during the third quarter. TD Asset Management Inc now owns 173,105 shares of the construction company’s stock valued at $12,818,000 after purchasing an additional 52,980 shares during the last quarter. Finally, ING Groep NV lifted its stake in PulteGroup by 351.6% in the third quarter. ING Groep NV now owns 144,009 shares of the construction company’s stock valued at $10,664,000 after buying an additional 112,122 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Analysts Set New Price Targets

PHM has been the subject of several analyst reports. Barclays upped their target price on PulteGroup from $126.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. StockNews.com upgraded PulteGroup from a “hold” rating to a “buy” rating in a report on Wednesday, April 24th. Jefferies Financial Group boosted their target price on shares of PulteGroup from $126.00 to $131.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. The Goldman Sachs Group lifted their price objective on PulteGroup from $91.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, January 11th. Finally, Raymond James reiterated an “outperform” rating and set a $135.00 target price (up from $120.00) on shares of PulteGroup in a research note on Thursday, April 25th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $111.73.

PulteGroup Trading Up 1.3 %

NYSE:PHM traded up $1.52 during trading hours on Thursday, hitting $117.31. 556,267 shares of the company were exchanged, compared to its average volume of 1,790,294. PulteGroup, Inc. has a one year low of $65.16 and a one year high of $121.07. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $24.67 billion, a price-to-earnings ratio of 9.27, a price-to-earnings-growth ratio of 0.52 and a beta of 1.56. The company has a fifty day simple moving average of $112.90 and a 200 day simple moving average of $101.97.

PulteGroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 18th will be issued a $0.20 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.80 annualized dividend and a dividend yield of 0.68%. PulteGroup’s dividend payout ratio is currently 6.41%.

PulteGroup declared that its board has authorized a stock buyback program on Tuesday, January 30th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the construction company to buy up to 6.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

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.