Metis Global Partners LLC Acquires 2,302 Shares of PulteGroup, Inc. (NYSE:PHM)

Metis Global Partners LLC lifted its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 23.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,280 shares of the construction company’s stock after buying an additional 2,302 shares during the quarter. Metis Global Partners LLC’s holdings in PulteGroup were worth $1,763,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Grove Bank & Trust grew its position in shares of PulteGroup by 18.4% in the third quarter. Grove Bank & Trust now owns 463 shares of the construction company’s stock valued at $66,000 after purchasing an additional 72 shares in the last quarter. WR Wealth Planners LLC increased its position in shares of PulteGroup by 54.7% during the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock valued at $26,000 after buying an additional 82 shares during the period. Cromwell Holdings LLC boosted its position in shares of PulteGroup by 17.2% in the third quarter. Cromwell Holdings LLC now owns 565 shares of the construction company’s stock valued at $81,000 after acquiring an additional 83 shares during the period. Concord Wealth Partners grew its stake in PulteGroup by 1.7% during the third quarter. Concord Wealth Partners now owns 5,002 shares of the construction company’s stock valued at $718,000 after acquiring an additional 83 shares in the last quarter. Finally, Lebenthal Global Advisors LLC increased its holdings in PulteGroup by 3.9% during the 2nd quarter. Lebenthal Global Advisors LLC now owns 2,329 shares of the construction company’s stock worth $256,000 after acquiring an additional 87 shares during the period. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

PulteGroup Trading Down 0.4 %

Shares of PHM opened at $128.89 on Friday. The firm has a fifty day simple moving average of $137.31 and a two-hundred day simple moving average of $125.17. PulteGroup, Inc. has a twelve month low of $86.59 and a twelve month high of $149.47. The stock has a market capitalization of $26.43 billion, a P/E ratio of 9.51, a PEG ratio of 0.52 and a beta of 1.63. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.14.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, beating analysts’ consensus estimates of $3.10 by $0.25. The business had revenue of $4.48 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.90 EPS. On average, research analysts anticipate that PulteGroup, Inc. will post 12.94 EPS for the current year.

PulteGroup Increases Dividend

The business 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 a positive change from PulteGroup’s previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, December 17th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.68%. PulteGroup’s payout ratio is presently 5.90%.

Insider Activity at PulteGroup

In other PulteGroup news, Director Thomas J. Folliard sold 19,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $131.14, for a total transaction of $2,491,660.00. Following the completion of the transaction, the director now owns 45,230 shares of the company’s stock, valued at approximately $5,931,462.20. This trade represents a 29.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert Oshaughnessy sold 71,007 shares of the business’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 completion of the sale, the chief financial officer now directly owns 89,323 shares in the company, valued at approximately $12,043,420.09. This represents a 44.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.83% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PHM has been the topic of several research analyst reports. Raymond James upped their price target on shares of PulteGroup from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. BTIG Research lifted their price target on PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. UBS Group upped their price objective on shares of PulteGroup from $148.00 to $154.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Wolfe Research cut shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. Finally, Oppenheimer lowered their price objective on shares of PulteGroup from $168.00 to $165.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. 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 an average rating of “Moderate Buy” and a consensus target price of $145.00.

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.