nVerses Capital LLC Purchases New Shares in PulteGroup, Inc. (NYSE:PHM)

nVerses Capital LLC acquired a new position in shares of PulteGroup, Inc. (NYSE:PHM) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,900 shares of the construction company’s stock, valued at approximately $273,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Grove Bank & Trust grew its stake in shares of PulteGroup by 18.4% during the third quarter. Grove Bank & Trust now owns 463 shares of the construction company’s stock valued at $66,000 after purchasing an additional 72 shares during the last quarter. WR Wealth Planners LLC increased its stake in shares of PulteGroup by 54.7% in the 2nd quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock valued at $26,000 after buying an additional 82 shares during the period. Lebenthal Global Advisors LLC raised its position in shares of PulteGroup by 3.9% during the second quarter. Lebenthal Global Advisors LLC now owns 2,329 shares of the construction company’s stock worth $256,000 after acquiring an additional 87 shares during the last quarter. Tocqueville Asset Management L.P. raised its position in shares of PulteGroup by 2.0% during the first quarter. Tocqueville Asset Management L.P. now owns 5,092 shares of the construction company’s stock worth $614,000 after acquiring an additional 101 shares during the last quarter. Finally, Patten Group Inc. lifted its stake in shares of PulteGroup by 2.9% during the second quarter. Patten Group Inc. now owns 3,805 shares of the construction company’s stock valued at $419,000 after acquiring an additional 109 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Trading Up 2.2 %

NYSE PHM opened at $149.14 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.76 and a quick ratio of 0.76. The stock’s 50-day moving average is $135.79 and its 200-day moving average is $122.43. PulteGroup, Inc. has a one year low of $68.80 and a one year high of $149.32. The firm has a market cap of $30.95 billion, a P/E ratio of 11.38, a P/E/G ratio of 0.58 and a beta of 1.62.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, July 23rd. The construction company reported $3.83 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $0.56. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. The firm had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.49 billion. During the same quarter in the previous year, the firm posted $3.00 earnings per share. The business’s revenue was up 9.8% on a year-over-year basis. Sell-side analysts anticipate that PulteGroup, Inc. will post 12.9 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 17th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Tuesday, September 17th. PulteGroup’s dividend payout ratio (DPR) is presently 6.10%.

Wall Street Analysts Forecast Growth

PHM has been the subject of several recent research reports. Oppenheimer boosted their price objective on PulteGroup from $151.00 to $168.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Bank of America increased their price objective on shares of PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, September 19th. BTIG Research lifted their target price on shares of PulteGroup from $133.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Royal Bank of Canada upped their target price on shares of PulteGroup from $113.00 to $120.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company raised their price target on PulteGroup from $150.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, PulteGroup currently has an average rating of “Moderate Buy” and a consensus price target of $141.14.

Insider Buying and Selling at PulteGroup

In related news, Director Thomas J. Folliard sold 19,000 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total transaction of $2,491,660.00. Following the completion of the transaction, the director now directly owns 45,230 shares in the company, valued at approximately $5,931,462.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Thomas J. Folliard sold 19,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $131.14, for a total transaction of $2,491,660.00. Following the completion of the transaction, the director now directly owns 45,230 shares of the company’s stock, valued at $5,931,462.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert Oshaughnessy sold 71,007 shares of PulteGroup stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $134.83, for a total transaction of $9,573,873.81. Following the completion of the sale, the chief financial officer now owns 89,323 shares in the company, valued at $12,043,420.09. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 119,000 shares of company stock valued at $15,814,039 in the last 90 days. 0.75% of the stock is currently owned by company insiders.

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.