Sound Income Strategies LLC Acquires Shares of 1,577 PulteGroup, Inc. (NYSE:PHM)

Sound Income Strategies LLC purchased a new stake in PulteGroup, Inc. (NYSE:PHM) during the third quarter, HoldingsChannel.com reports. The firm purchased 1,577 shares of the construction company’s stock, valued at approximately $226,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PHM. Swedbank AB acquired a new position in PulteGroup during the first quarter worth about $68,985,000. Hsbc Holdings PLC grew its holdings in PulteGroup by 19.6% in the second quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock valued at $168,254,000 after purchasing an additional 250,937 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of PulteGroup by 8.6% in the second quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock valued at $326,864,000 after buying an additional 235,826 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of PulteGroup by 130.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 388,298 shares of the construction company’s stock worth $46,837,000 after buying an additional 219,609 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in PulteGroup by 40.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 733,804 shares of the construction company’s stock valued at $88,511,000 after acquiring an additional 212,837 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Stock Performance

Shares of PHM stock opened at $139.20 on Monday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.15. The business has a 50 day moving average of $133.46 and a two-hundred day moving average of $121.55. The company has a market cap of $29.28 billion, a P/E ratio of 11.14, a PEG ratio of 0.57 and a beta of 1.62. PulteGroup, Inc. has a 52 week low of $68.80 and a 52 week high of $145.84.

PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, July 23rd. The construction company reported $3.83 EPS for the quarter, topping the consensus estimate of $3.27 by $0.56. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. The firm had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.49 billion. During the same quarter in the prior year, the firm earned $3.00 EPS. PulteGroup’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, analysts anticipate that PulteGroup, Inc. will post 12.9 EPS for the current year.

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 17th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Tuesday, September 17th. PulteGroup’s dividend payout ratio is currently 6.41%.

Analyst Ratings Changes

Several equities analysts have weighed in on PHM shares. Royal Bank of Canada raised their price target on PulteGroup from $113.00 to $120.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 24th. Barclays increased their target price on PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. increased their price objective on shares of PulteGroup from $141.00 to $152.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Raymond James raised their target price on PulteGroup from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Bank of America lifted their price objective on shares of PulteGroup from $138.00 to $160.00 and gave the company 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $141.14.

Insider Activity

In other news, Director Thomas J. Folliard sold 19,000 shares of PulteGroup stock in a transaction 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 directly owns 45,230 shares in the company, valued at approximately $5,931,462.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related 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 transaction of $2,491,660.00. Following the completion of the sale, the director now directly owns 45,230 shares of the company’s stock, valued at $5,931,462.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 sale, the chief financial officer now owns 89,323 shares of the company’s stock, valued at $12,043,420.09. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 119,000 shares of company stock worth $15,814,039 over the last three months. Corporate insiders own 0.83% of the company’s stock.

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.