Sigma Planning Corp Acquires Shares of 1,802 PulteGroup, Inc. (NYSE:PHM)

Sigma Planning Corp bought a new position in PulteGroup, Inc. (NYSE:PHM) in the 3rd quarter, according to its most recent disclosure with the SEC. The firm bought 1,802 shares of the construction company’s stock, valued at approximately $259,000.

A number of other large investors have also recently modified their holdings of the stock. Transcendent Capital Group LLC purchased a new stake in PulteGroup in the third quarter worth about $29,000. Covestor Ltd raised its position in shares of PulteGroup by 186.0% in the 3rd quarter. Covestor Ltd now owns 981 shares of the construction company’s stock worth $141,000 after acquiring an additional 638 shares in the last quarter. Verdence Capital Advisors LLC lifted its stake in shares of PulteGroup by 2.8% in the 3rd quarter. Verdence Capital Advisors LLC now owns 3,598 shares of the construction company’s stock valued at $516,000 after purchasing an additional 97 shares during the period. Carson Advisory Inc. bought a new stake in shares of PulteGroup during the third quarter valued at approximately $208,000. Finally, CWA Asset Management Group LLC purchased a new stake in PulteGroup in the third quarter worth $7,392,000. Institutional investors own 89.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on PHM. Evercore ISI lowered their price objective on PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Wolfe Research lowered shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. Barclays upped their price objective on shares of PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Wedbush reiterated a “neutral” rating and set a $115.00 target price on shares of PulteGroup in a report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. upped their price target on PulteGroup from $141.00 to $152.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.00.

PulteGroup Price Performance

NYSE PHM opened at $128.89 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73. The company has a market capitalization of $26.43 billion, a price-to-earnings ratio of 9.51, a PEG ratio of 0.52 and a beta of 1.63. The stock has a 50-day moving average of $137.29 and a 200 day moving average of $125.27. PulteGroup, Inc. has a one year low of $86.59 and a one year high of $149.47.

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

PulteGroup Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.68%. This is a boost from PulteGroup’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Tuesday, December 17th. PulteGroup’s dividend payout ratio is presently 5.90%.

Insider Activity

In other news, Director Thomas J. Folliard sold 19,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $131.14, for a total value of $2,491,660.00. Following the transaction, the director now owns 45,230 shares in the company, valued at $5,931,462.20. This represents a 29.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert Oshaughnessy sold 71,007 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $134.83, for a total transaction of $9,573,873.81. Following the completion of the transaction, the chief financial officer now directly owns 89,323 shares in the company, valued at approximately $12,043,420.09. The trade was a 44.29 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.83% of the company’s stock.

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.