Brown Capital Management LLC Takes $240,000 Position in PulteGroup, Inc. (NYSE:PHM)

Brown Capital Management LLC bought a new position in PulteGroup, Inc. (NYSE:PHM) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,674 shares of the construction company’s stock, valued at approximately $240,000.

A number of other institutional investors have also recently bought and sold shares of the business. Fortitude Family Office LLC boosted 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 valued at $27,000 after acquiring an additional 99 shares in the last quarter. Transcendent Capital Group LLC bought a new stake in shares of PulteGroup in the 3rd quarter valued at approximately $29,000. WR Wealth Planners LLC raised its holdings in shares of PulteGroup by 54.7% in the 2nd quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock worth $26,000 after buying an additional 82 shares in the last quarter. LRI Investments LLC bought a new position in shares of PulteGroup during the 1st quarter worth approximately $28,000. Finally, Rothschild Investment LLC acquired a new stake in PulteGroup in the 2nd quarter valued at $31,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

Insider Buying and Selling at PulteGroup

In other PulteGroup news, CFO Robert Oshaughnessy sold 71,007 shares of the company’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 value of $9,573,873.81. Following the sale, the chief financial officer now owns 89,323 shares in the company, valued at $12,043,420.09. This represents a 44.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas J. Folliard sold 19,000 shares of PulteGroup stock in a transaction that occurred 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 transaction, the director now owns 45,230 shares of the company’s stock, valued at $5,931,462.20. This represents a 29.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PHM. Barclays increased their price objective on PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. UBS Group lifted their price target on shares of PulteGroup from $148.00 to $154.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Bank of America upped their price objective on shares of PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Wells Fargo & Company lifted their target price on shares of PulteGroup from $150.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Finally, Wedbush reissued a “neutral” rating and issued a $115.00 target price on shares of PulteGroup in a report on Tuesday, October 22nd. Six equities research 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 stock presently has an average rating of “Moderate Buy” and an average price target of $145.00.

PulteGroup Stock Down 0.4 %

Shares of PHM stock opened at $128.06 on Thursday. PulteGroup, Inc. has a 12-month low of $86.59 and a 12-month high of $149.47. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.14. The firm has a fifty day moving average of $137.07 and a 200-day moving average of $125.67. The company has a market capitalization of $26.26 billion, a price-to-earnings ratio of 9.44, a P/E/G ratio of 0.52 and a beta of 1.63.

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

PulteGroup Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 17th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This is a boost from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 0.69%. PulteGroup’s dividend payout ratio is 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.