PulteGroup, Inc. (NYSE:PHM) Shares Purchased by Morse Asset Management Inc

Morse Asset Management Inc raised its holdings in PulteGroup, Inc. (NYSE:PHM) by 26.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 9,735 shares of the construction company’s stock after acquiring an additional 2,020 shares during the period. Morse Asset Management Inc’s holdings in PulteGroup were worth $1,397,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Baader Bank Aktiengesellschaft purchased a new stake in PulteGroup in the 2nd quarter worth approximately $629,000. Trustmark National Bank Trust Department increased its position in shares of PulteGroup by 39.8% in the third quarter. Trustmark National Bank Trust Department now owns 39,589 shares of the construction company’s stock valued at $5,682,000 after buying an additional 11,269 shares in the last quarter. New Millennium Group LLC lifted its position in shares of PulteGroup by 10,625.8% during the 3rd quarter. New Millennium Group LLC now owns 9,546 shares of the construction company’s stock valued at $1,370,000 after buying an additional 9,457 shares in the last quarter. Vision Capital Corp acquired a new stake in PulteGroup in the 3rd quarter valued at $22,348,000. Finally, Blair William & Co. IL increased its holdings in PulteGroup by 25.1% in the 2nd quarter. Blair William & Co. IL now owns 34,127 shares of the construction company’s stock worth $3,757,000 after acquiring an additional 6,858 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on PHM shares. UBS Group increased their price objective on PulteGroup from $148.00 to $154.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Oppenheimer cut 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. Wells Fargo & Company boosted their target price on shares of PulteGroup from $150.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, October 7th. BTIG Research raised their price target on shares of PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Wolfe Research lowered PulteGroup from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $145.00.

PulteGroup Stock Performance

NYSE:PHM opened at $133.98 on Wednesday. PulteGroup, Inc. has a 12 month low of $89.81 and a 12 month high of $149.47. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a market capitalization of $27.48 billion, a PE ratio of 9.88, a price-to-earnings-growth ratio of 0.55 and a beta of 1.62. The business’s fifty day moving average price is $135.85 and its 200 day moving average price is $126.77.

PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.25. The business had revenue of $4.48 billion for the quarter, compared to analysts’ expectations of $4.27 billion. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The business’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.90 earnings per share. On average, sell-side analysts anticipate 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. Stockholders of record on Tuesday, December 17th will be paid a dividend of $0.22 per share. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.88 annualized dividend and a dividend yield of 0.66%. 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.