Valley National Advisers Inc. Buys 15,683 Shares of PulteGroup, Inc. $PHM

Valley National Advisers Inc. boosted its stake in PulteGroup, Inc. (NYSE:PHM) by 41,271.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,721 shares of the construction company’s stock after buying an additional 15,683 shares during the quarter. Valley National Advisers Inc.’s holdings in PulteGroup were worth $2,076,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. WPG Advisers LLC acquired a new stake in shares of PulteGroup in the 1st quarter valued at $25,000. Twin Peaks Wealth Advisors LLC bought a new position in PulteGroup during the 2nd quarter valued at about $32,000. Rexford Capital Inc. acquired a new position in PulteGroup in the second quarter valued at about $35,000. Hager Investment Management Services LLC grew its stake in PulteGroup by 33.3% during the second quarter. Hager Investment Management Services LLC now owns 420 shares of the construction company’s stock worth $44,000 after buying an additional 105 shares during the last quarter. Finally, AdvisorNet Financial Inc increased its holdings in shares of PulteGroup by 170.4% during the third quarter. AdvisorNet Financial Inc now owns 503 shares of the construction company’s stock worth $67,000 after buying an additional 317 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Trading Down 0.2%

PHM stock opened at $119.17 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month high of $142.11. The company has a market cap of $23.23 billion, a P/E ratio of 9.17, a PEG ratio of 0.96 and a beta of 1.31. The business has a fifty day moving average of $121.63 and a 200-day moving average of $121.48.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, October 21st. The construction company reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.86 by $0.10. The business had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.31 billion. PulteGroup had a return on equity of 19.58% and a net margin of 14.93%.The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the business earned $3.35 earnings per share. As a group, equities research analysts expect that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 16th will be given a dividend of $0.26 per share. The ex-dividend date is Tuesday, December 16th. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. This is a positive change from PulteGroup’s previous quarterly dividend of $0.22. PulteGroup’s dividend payout ratio is presently 8.01%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PHM shares. Evercore ISI reduced their target price on PulteGroup from $154.00 to $134.00 and set an “in-line” rating on the stock in a report on Wednesday, October 22nd. Barclays set a $115.00 price objective on PulteGroup in a research note on Monday, December 8th. Bank of America lowered their target price on PulteGroup from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, October 10th. Citigroup upped their price target on shares of PulteGroup from $132.00 to $143.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 1st. Finally, Wells Fargo & Company increased their price objective on shares of PulteGroup from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, PulteGroup currently has a consensus rating of “Moderate Buy” and an average price target of $137.25.

PulteGroup Profile

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.