PNC Financial Services Group Inc. Has $5.19 Million Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

PNC Financial Services Group Inc. lifted its position in shares of PulteGroup, Inc. (NYSE:PHM) by 6.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,152 shares of the construction company’s stock after acquiring an additional 2,067 shares during the quarter. PNC Financial Services Group Inc.’s holdings in PulteGroup were worth $5,189,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. WR Wealth Planners LLC raised its holdings in PulteGroup by 54.7% during the 2nd quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock worth $26,000 after purchasing an additional 82 shares during the last quarter. Fortitude Family Office LLC grew its position in shares of PulteGroup by 115.1% during the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock worth $27,000 after buying an additional 99 shares during the period. LRI Investments LLC bought a new stake in shares of PulteGroup during the first quarter worth approximately $28,000. Transcendent Capital Group LLC acquired a new position in PulteGroup in the third quarter valued at approximately $29,000. Finally, Rothschild Investment LLC bought a new position in PulteGroup in the second quarter valued at approximately $31,000. Institutional investors own 89.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PHM shares. Oppenheimer cut their price target on PulteGroup from $168.00 to $165.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Wedbush reissued a “neutral” rating and issued a $115.00 target price on shares of PulteGroup in a research note on Tuesday, October 22nd. Evercore ISI reduced their target price on PulteGroup from $198.00 to $195.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Wells Fargo & Company upped their price target on PulteGroup from $150.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Finally, Wolfe Research cut shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $145.00.

Insider Buying and Selling

In other PulteGroup news, Director Thomas J. Folliard sold 19,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now owns 45,230 shares of the company’s stock, valued at $5,931,462.20. The trade was a 29.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.83% of the stock is currently owned by corporate insiders.

PulteGroup Trading Up 1.3 %

NYSE PHM opened at $129.76 on Friday. PulteGroup, Inc. has a 52 week low of $86.59 and a 52 week high of $149.47. 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 stock’s 50 day moving average price is $136.74 and its two-hundred day moving average price is $125.83. The stock has a market capitalization of $26.61 billion, a price-to-earnings ratio of 9.57, a PEG ratio of 0.52 and a beta of 1.63.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data 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 business had revenue of $4.48 billion for 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 firm’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.90 earnings per share. As a group, analysts anticipate that PulteGroup, Inc. will post 12.94 earnings per share for the current fiscal year.

PulteGroup Increases Dividend

The business also recently announced 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. The ex-dividend date is Tuesday, December 17th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.68%. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. PulteGroup’s payout ratio is currently 5.90%.

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.