Vision Capital Corp Purchases Shares of 155,700 PulteGroup, Inc. (NYSE:PHM)

Vision Capital Corp acquired a new position in shares of PulteGroup, Inc. (NYSE:PHM) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 155,700 shares of the construction company’s stock, valued at approximately $22,348,000. PulteGroup makes up approximately 3.6% of Vision Capital Corp’s holdings, making the stock its 8th biggest position. Vision Capital Corp owned 0.08% of PulteGroup as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PHM. Greenhaven Associates Inc. raised its holdings in PulteGroup by 0.3% during the third quarter. Greenhaven Associates Inc. now owns 5,593,179 shares of the construction company’s stock worth $802,789,000 after acquiring an additional 16,871 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of PulteGroup by 8.6% in the 2nd quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock worth $326,864,000 after purchasing an additional 235,826 shares during the period. Hsbc Holdings PLC boosted its stake in shares of PulteGroup by 19.6% in the 2nd 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. Victory Capital Management Inc. increased its position in shares of PulteGroup by 6.3% during the third quarter. Victory Capital Management Inc. now owns 1,025,276 shares of the construction company’s stock worth $147,158,000 after buying an additional 60,854 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in PulteGroup by 35.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 861,487 shares of the construction company’s stock worth $123,649,000 after buying an additional 223,841 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Oppenheimer reduced their price objective on shares of PulteGroup from $168.00 to $165.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. UBS Group raised their price target on shares of PulteGroup from $148.00 to $154.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Wedbush reiterated a “neutral” rating and set a $115.00 price objective on shares of PulteGroup in a report on Tuesday, October 22nd. BTIG Research raised their target price on PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company upped their price target on PulteGroup from $150.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.00.

PulteGroup Stock Up 1.7 %

Shares of PHM opened at $131.99 on Monday. The business’s 50 day moving average is $136.74 and its 200 day moving average is $125.90. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.14. PulteGroup, Inc. has a 12-month low of $86.59 and a 12-month high of $149.47. The company has a market capitalization of $27.07 billion, a PE ratio of 9.57, a price-to-earnings-growth ratio of 0.53 and a beta of 1.63.

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

PulteGroup Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 17th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This is a positive change from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.67%. PulteGroup’s dividend payout ratio (DPR) is 5.90%.

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 sale, the director now directly owns 45,230 shares of the company’s stock, valued at $5,931,462.20. The trade was a 29.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.75% of the stock is currently owned by company insiders.

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.