Duncan Williams Asset Management LLC Buys 942 Shares of PulteGroup, Inc. $PHM

Duncan Williams Asset Management LLC raised its position in PulteGroup, Inc. (NYSE:PHM) by 12.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,802 shares of the construction company’s stock after buying an additional 942 shares during the quarter. Duncan Williams Asset Management LLC’s holdings in PulteGroup were worth $928,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of PHM. JPMorgan Chase & Co. raised its position in PulteGroup by 40.3% during the first quarter. JPMorgan Chase & Co. now owns 3,486,330 shares of the construction company’s stock valued at $358,395,000 after purchasing an additional 1,001,290 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of PulteGroup by 11.8% during the 1st quarter. Ameriprise Financial Inc. now owns 2,570,022 shares of the construction company’s stock worth $264,216,000 after buying an additional 271,917 shares in the last quarter. Nuveen LLC acquired a new position in shares of PulteGroup during the 1st quarter worth $213,092,000. Price T Rowe Associates Inc. MD lifted its position in shares of PulteGroup by 21.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,579,792 shares of the construction company’s stock worth $162,403,000 after buying an additional 276,077 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in PulteGroup by 25.6% in the first quarter. Victory Capital Management Inc. now owns 1,397,409 shares of the construction company’s stock valued at $143,654,000 after buying an additional 284,627 shares in the last quarter. 89.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PHM shares. Oppenheimer lifted their price target on shares of PulteGroup from $132.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, July 23rd. Wells Fargo & Company raised their target price on PulteGroup from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 2nd. Citigroup upped their price target on PulteGroup from $132.00 to $143.00 and gave the company a “neutral” rating in a research report on Wednesday. Zacks Research raised PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Friday, August 29th. Finally, Royal Bank Of Canada boosted their price target on shares of PulteGroup from $109.00 to $112.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, PulteGroup presently has an average rating of “Moderate Buy” and an average target price of $137.31.

PulteGroup Stock Up 2.1%

Shares of NYSE:PHM opened at $137.70 on Monday. The business’s 50 day moving average is $129.39 and its 200 day moving average is $112.28. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-month high of $149.47. The stock has a market cap of $27.17 billion, a price-to-earnings ratio of 10.29, a PEG ratio of 0.40 and a beta of 1.29. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.13.

PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, July 22nd. The construction company reported $3.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.11. The company had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.42 billion. PulteGroup had a return on equity of 21.01% and a net margin of 15.50%.PulteGroup’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the company posted $3.83 earnings per share. On average, sell-side analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Tuesday, September 16th were paid a $0.22 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $0.88 annualized dividend and a yield of 0.6%. PulteGroup’s dividend payout ratio is presently 6.58%.

About PulteGroup

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.