GAMMA Investing LLC Increases Stake in PulteGroup, Inc. (NYSE:PHM)

GAMMA Investing LLC lifted its stake in PulteGroup, Inc. (NYSE:PHM) by 17.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,190 shares of the construction company’s stock after buying an additional 329 shares during the quarter. GAMMA Investing LLC’s holdings in PulteGroup were worth $238,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fortitude Family Office LLC lifted its stake in PulteGroup by 115.1% in the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock worth $27,000 after purchasing an additional 99 shares in the last quarter. Transcendent Capital Group LLC bought a new stake in shares of PulteGroup in the third quarter worth about $29,000. Candriam S.C.A. purchased a new stake in shares of PulteGroup in the second quarter worth about $33,000. JNBA Financial Advisors bought a new position in PulteGroup during the third quarter valued at approximately $43,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings in PulteGroup by 1,059.3% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 313 shares of the construction company’s stock valued at $45,000 after buying an additional 286 shares in the last quarter. Institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Down 1.1 %

NYSE:PHM opened at $107.78 on Wednesday. The stock has a fifty day simple moving average of $123.23 and a 200-day simple moving average of $126.95. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.14. The company has a market cap of $22.10 billion, a price-to-earnings ratio of 7.95, a price-to-earnings-growth ratio of 0.48 and a beta of 1.67. PulteGroup, Inc. has a twelve month low of $100.24 and a twelve month high of $149.47.

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

PulteGroup Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, December 17th. This is a positive change from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a yield of 0.82%. PulteGroup’s payout ratio is 6.49%.

Analyst Ratings Changes

PHM has been the subject of a number of research reports. Bank of America increased their target price on PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Wells Fargo & Company dropped their price objective on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Barclays restated an “equal weight” rating and set a $140.00 target price (down from $150.00) on shares of PulteGroup in a research report on Wednesday, December 11th. Wedbush upgraded PulteGroup from a “neutral” rating to an “outperform” rating and set a $135.00 price target for the company in a research report on Friday, January 3rd. Finally, BTIG Research upped their price objective on PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, PulteGroup currently has an average rating of “Moderate Buy” and a consensus price target of $144.29.

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.