Grove Bank & Trust Increases Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Grove Bank & Trust increased its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 18.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 463 shares of the construction company’s stock after purchasing an additional 72 shares during the quarter. Grove Bank & Trust’s holdings in PulteGroup were worth $66,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of PHM. Benjamin Edwards Inc. purchased a new stake in shares of PulteGroup in the first quarter valued at $26,000. WR Wealth Planners LLC boosted its stake in shares of 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 period. LRI Investments LLC bought a new position in PulteGroup during the 1st quarter valued at about $28,000. Rothschild Investment LLC purchased a new stake in PulteGroup in the 2nd quarter worth about $31,000. Finally, Candriam S.C.A. bought a new stake in PulteGroup in the second quarter worth about $33,000. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Insider Transactions at PulteGroup

In related news, CFO Robert Oshaughnessy sold 71,007 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $134.83, for a total transaction of $9,573,873.81. Following the completion of the sale, the chief financial officer now owns 89,323 shares of the company’s stock, valued at $12,043,420.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Robert Oshaughnessy sold 71,007 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now directly owns 89,323 shares of the company’s stock, valued at approximately $12,043,420.09. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Thomas J. Folliard sold 19,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total value 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 119,000 shares of company stock valued at $15,814,039 in the last 90 days. Insiders own 0.83% of the company’s stock.

PulteGroup Stock Performance

Shares of PHM stock opened at $144.62 on Wednesday. The firm has a market cap of $30.42 billion, a price-to-earnings ratio of 11.58, 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 $146.37. 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 company’s 50 day moving average is $134.26 and its 200 day moving average is $121.88.

PulteGroup (NYSE:PHM) last released its quarterly 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 return on equity of 25.67% and a net margin of 16.75%. The firm had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.49 billion. During the same period in the previous year, the company posted $3.00 EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, sell-side analysts anticipate that PulteGroup, Inc. will post 12.9 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 17th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date was Tuesday, September 17th. PulteGroup’s dividend payout ratio is currently 6.41%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PHM shares. Oppenheimer upped their target price on PulteGroup from $151.00 to $168.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Raymond James increased their target price on PulteGroup from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Barclays lifted 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. Royal Bank of Canada upped their price target on shares of PulteGroup from $113.00 to $120.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 24th. Finally, Wolfe Research lowered shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.14.

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.