Kingsview Wealth Management LLC Raises Stock Position in PulteGroup, Inc. (NYSE:PHM)

Kingsview Wealth Management LLC boosted its position in PulteGroup, Inc. (NYSE:PHM) by 3.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,586 shares of the construction company’s stock after purchasing an additional 113 shares during the quarter. Kingsview Wealth Management LLC’s holdings in PulteGroup were worth $515,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Baader Bank Aktiengesellschaft bought a new stake in PulteGroup during the second quarter valued at $629,000. Cetera Investment Advisers grew its holdings in shares of PulteGroup by 128.4% during the first quarter. Cetera Investment Advisers now owns 94,588 shares of the construction company’s stock worth $11,409,000 after purchasing an additional 53,175 shares in the last quarter. New Millennium Group LLC increased its position in shares of PulteGroup by 10,625.8% in the third quarter. New Millennium Group LLC now owns 9,546 shares of the construction company’s stock worth $1,370,000 after purchasing an additional 9,457 shares during the last quarter. Trustmark National Bank Trust Department raised its stake in PulteGroup by 39.8% in the third quarter. Trustmark National Bank Trust Department now owns 39,589 shares of the construction company’s stock valued at $5,682,000 after purchasing an additional 11,269 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in PulteGroup by 3.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 331,553 shares of the construction company’s stock valued at $39,993,000 after purchasing an additional 12,164 shares during the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PHM has been the topic of a number of research analyst reports. UBS Group increased their target price on PulteGroup from $148.00 to $154.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company raised their target price on shares of PulteGroup from $150.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. BTIG Research raised their price target on shares of PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Evercore ISI lowered their price objective 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. Finally, Bank of America raised their target price on PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $145.00.

PulteGroup Stock Up 0.7 %

Shares of NYSE:PHM opened at $136.53 on Thursday. PulteGroup, Inc. has a 12-month low of $86.59 and a 12-month high of $149.47. The stock has a market capitalization of $28.00 billion, a price-to-earnings ratio of 10.07, a PEG ratio of 0.56 and a beta of 1.63. The stock has a fifty day simple moving average of $136.51 and a two-hundred day simple moving average of $126.25. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.14.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.25. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The firm had revenue of $4.48 billion during the quarter, compared to analyst estimates of $4.27 billion. During the same quarter in the previous year, the firm earned $2.90 EPS. PulteGroup’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, research analysts anticipate that PulteGroup, Inc. will post 12.94 earnings per share for the current fiscal year.

PulteGroup Increases Dividend

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

About PulteGroup

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.