Cerity Partners LLC Grows Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Cerity Partners LLC increased its stake in PulteGroup, Inc. (NYSE:PHM) by 11.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 48,399 shares of the construction company’s stock after buying an additional 4,970 shares during the quarter. Cerity Partners LLC’s holdings in PulteGroup were worth $6,947,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the company. Fortitude Family Office LLC raised its stake in shares of PulteGroup by 115.1% in the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock valued at $27,000 after purchasing an additional 99 shares in the last quarter. Transcendent Capital Group LLC acquired a new position in shares of PulteGroup in the 3rd quarter worth approximately $29,000. WR Wealth Planners LLC increased its holdings 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 acquiring an additional 82 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of PulteGroup during the 1st quarter valued at approximately $28,000. Finally, Rothschild Investment LLC bought a new position in PulteGroup during the second quarter worth $31,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Price Performance

Shares of PHM stock opened at $136.53 on Thursday. The firm’s 50 day moving average price is $136.51 and its two-hundred day moving average price is $126.25. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73. PulteGroup, Inc. has a 52-week low of $86.59 and a 52-week high of $149.47. The stock has a market cap of $28.00 billion, a PE ratio of 10.07, a PEG ratio of 0.56 and a beta of 1.63.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, beating analysts’ consensus estimates of $3.10 by $0.25. The business had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.27 billion. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. PulteGroup’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period last year, the company posted $2.90 EPS. As a group, analysts forecast that PulteGroup, Inc. will post 12.94 EPS for the current year.

PulteGroup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 17th will be given a $0.22 dividend. This is a boost from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 0.64%. The ex-dividend date is Tuesday, December 17th. PulteGroup’s payout ratio is currently 6.49%.

Analysts Set New Price Targets

A number of brokerages have issued reports on PHM. UBS Group raised their target price on shares of PulteGroup from $148.00 to $154.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Wedbush restated a “neutral” rating and set a $115.00 price objective on shares of PulteGroup in a research note on Tuesday, October 22nd. Bank of America raised their target price on PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. BTIG Research increased their price objective on shares of PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Evercore ISI reduced their target price on shares of PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $145.00.

PulteGroup Company 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.