Econ Financial Services Corp Makes New $567,000 Investment in PulteGroup, Inc. $PHM

Econ Financial Services Corp purchased a new position in shares of PulteGroup, Inc. (NYSE:PHM) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,375 shares of the construction company’s stock, valued at approximately $567,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Reyes Financial Architecture Inc. increased its stake in PulteGroup by 42.1% during the first quarter. Reyes Financial Architecture Inc. now owns 770 shares of the construction company’s stock worth $79,000 after acquiring an additional 228 shares during the last quarter. Xponance Inc. increased its stake in PulteGroup by 38.6% during the first quarter. Xponance Inc. now owns 38,993 shares of the construction company’s stock worth $4,008,000 after acquiring an additional 10,867 shares during the last quarter. Florida Financial Advisors LLC boosted its position in shares of PulteGroup by 30.5% in the first quarter. Florida Financial Advisors LLC now owns 4,832 shares of the construction company’s stock worth $496,000 after buying an additional 1,129 shares during the period. Edgestream Partners L.P. boosted its position in shares of PulteGroup by 2,687.0% in the first quarter. Edgestream Partners L.P. now owns 77,310 shares of the construction company’s stock worth $7,947,000 after buying an additional 74,536 shares during the period. Finally, Golden State Wealth Management LLC boosted its position in shares of PulteGroup by 15.9% in the first quarter. Golden State Wealth Management LLC now owns 909 shares of the construction company’s stock worth $93,000 after buying an additional 125 shares during the period. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PHM. Citigroup upped their target price on PulteGroup from $132.00 to $143.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 1st. Raymond James Financial reaffirmed an “outperform” rating and issued a $140.00 target price (up previously from $115.00) on shares of PulteGroup in a research report on Wednesday, July 23rd. UBS Group upped their target price on PulteGroup from $141.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, July 23rd. Seaport Res Ptn raised PulteGroup from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 22nd. Finally, Wells Fargo & Company upped 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. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, PulteGroup has an average rating of “Moderate Buy” and a consensus target price of $133.67.

PulteGroup Trading Up 0.4%

Shares of PHM opened at $120.77 on Wednesday. The company has a market capitalization of $23.54 billion, a P/E ratio of 9.30, a P/E/G ratio of 0.96 and a beta of 1.29. PulteGroup, Inc. has a one year low of $88.07 and a one year high of $142.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a 50-day moving average price of $129.99 and a 200 day moving average price of $115.06.

PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Tuesday, October 21st. The construction company reported $2.96 EPS for the quarter, beating analysts’ consensus estimates of $2.86 by $0.10. The firm had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.31 billion. PulteGroup had a return on equity of 19.58% and a net margin of 14.93%.PulteGroup’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.35 earnings per share. Sell-side analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Tuesday, September 16th were issued a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $0.88 dividend on an annualized basis and a yield of 0.7%. PulteGroup’s dividend payout ratio is currently 6.77%.

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.