Peapack Gladstone Financial Corp Grows Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Peapack Gladstone Financial Corp lifted its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 50.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,336 shares of the construction company’s stock after acquiring an additional 1,800 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in PulteGroup were worth $766,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC increased its holdings in PulteGroup by 102.3% during the 3rd quarter. FMR LLC now owns 9,040,828 shares of the construction company’s stock worth $1,297,630,000 after purchasing an additional 4,571,757 shares during the period. Greenhaven Associates Inc. increased its stake in shares of PulteGroup by 0.3% during the third quarter. Greenhaven Associates Inc. now owns 5,593,179 shares of the construction company’s stock valued at $802,789,000 after buying an additional 16,871 shares during the period. Pacer Advisors Inc. raised its holdings 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 acquiring an additional 235,826 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in PulteGroup by 7.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,864,040 shares of the construction company’s stock worth $267,546,000 after acquiring an additional 135,391 shares during the period. Finally, Hsbc Holdings PLC grew its holdings in PulteGroup by 19.6% during the 2nd quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock worth $168,254,000 after acquiring an additional 250,937 shares in the last quarter. Institutional investors own 89.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Wells Fargo & Company boosted their price target on shares of PulteGroup from $150.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Oppenheimer lowered their target price on PulteGroup from $168.00 to $165.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Barclays reiterated an “equal weight” rating and issued a $140.00 price target (down from $150.00) on shares of PulteGroup in a report on Wednesday, December 11th. Bank of America upped their price objective on PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Finally, BTIG Research lifted 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. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $144.50.

PulteGroup Trading Down 1.9 %

Shares of NYSE:PHM opened at $118.42 on Monday. The business’s 50 day moving average price is $133.08 and its 200-day moving average price is $127.34. PulteGroup, Inc. has a 1 year low of $99.03 and a 1 year high of $149.47. The firm has a market capitalization of $24.29 billion, a price-to-earnings ratio of 8.73, a price-to-earnings-growth ratio of 0.48 and a beta of 1.62. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.73.

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, beating the consensus estimate of $3.10 by $0.25. The business had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.27 billion. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The company’s revenue was up 11.8% compared to the same quarter last year. During the same period last year, the firm posted $2.90 earnings per share. On average, equities research analysts forecast that PulteGroup, Inc. will post 12.94 earnings per share for the current fiscal year.

PulteGroup Increases Dividend

The company also recently disclosed 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. This represents a $0.88 annualized dividend and a yield of 0.74%. This is a boost from PulteGroup’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Tuesday, December 17th. PulteGroup’s payout ratio is presently 5.90%.

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.