Principal Financial Group Inc. Boosts Stake in PulteGroup, Inc. $PHM

Principal Financial Group Inc. boosted its stake in PulteGroup, Inc. (NYSE:PHM) by 24.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 312,935 shares of the construction company’s stock after purchasing an additional 61,009 shares during the period. Principal Financial Group Inc. owned about 0.16% of PulteGroup worth $41,348,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Evergreen Capital Management LLC raised its holdings in shares of PulteGroup by 2.8% in the 2nd quarter. Evergreen Capital Management LLC now owns 2,875 shares of the construction company’s stock valued at $304,000 after buying an additional 78 shares during the period. Fidelis Capital Partners LLC grew its position in PulteGroup by 1.0% in the 2nd quarter. Fidelis Capital Partners LLC now owns 8,760 shares of the construction company’s stock valued at $924,000 after acquiring an additional 85 shares in the last quarter. Apella Capital LLC increased its stake in PulteGroup by 4.2% during the third quarter. Apella Capital LLC now owns 2,163 shares of the construction company’s stock worth $268,000 after purchasing an additional 87 shares during the period. CWM LLC lifted its position in shares of PulteGroup by 0.6% during the third quarter. CWM LLC now owns 14,308 shares of the construction company’s stock worth $1,890,000 after purchasing an additional 92 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its stake in shares of PulteGroup by 5.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 1,736 shares of the construction company’s stock valued at $229,000 after purchasing an additional 94 shares during the period. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on PHM. Citigroup increased their target price on shares of PulteGroup from $128.00 to $136.00 and gave the stock a “neutral” rating in a report on Tuesday. Wedbush reiterated an “outperform” rating and issued a $150.00 target price on shares of PulteGroup in a report on Tuesday, October 21st. Barclays set a $115.00 price target on PulteGroup in a report on Monday, December 8th. JPMorgan Chase & Co. cut their target price on shares of PulteGroup from $149.00 to $131.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Wall Street Zen upgraded shares of PulteGroup from a “sell” rating to a “hold” rating in a research note on Sunday, January 11th. Nine investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $140.15.

PulteGroup Price Performance

Shares of NYSE PHM opened at $134.43 on Thursday. The stock’s 50-day simple moving average is $125.06 and its 200-day simple moving average is $125.21. The firm has a market capitalization of $26.20 billion, a PE ratio of 12.09, a price-to-earnings-growth ratio of 1.43 and a beta of 1.33. PulteGroup, Inc. has a fifty-two week low of $88.07 and a fifty-two week 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 1.01.

PulteGroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Tuesday, March 17th will be issued a $0.26 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. PulteGroup’s dividend payout ratio is presently 9.35%.

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.