Coastline Trust Co Purchases 504 Shares of PulteGroup, Inc. (NYSE:PHM)

Coastline Trust Co grew its position in shares of PulteGroup, Inc. (NYSE:PHM) by 3.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,185 shares of the construction company’s stock after acquiring an additional 504 shares during the quarter. Coastline Trust Co’s holdings in PulteGroup were worth $2,036,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of PHM. Empirical Finance LLC lifted its stake in shares of PulteGroup by 0.8% in the third quarter. Empirical Finance LLC now owns 14,182 shares of the construction company’s stock valued at $2,036,000 after buying an additional 108 shares in the last quarter. Sheaff Brock Investment Advisors LLC acquired a new stake in shares of PulteGroup in the 3rd quarter worth about $266,000. CIBC Asset Management Inc lifted its position in PulteGroup by 6.6% in the 3rd quarter. CIBC Asset Management Inc now owns 30,909 shares of the construction company’s stock valued at $4,436,000 after acquiring an additional 1,923 shares in the last quarter. Balboa Wealth Partners bought a new position in PulteGroup in the 3rd quarter valued at about $227,000. Finally, Black Swift Group LLC acquired a new position in PulteGroup during the 3rd quarter valued at about $1,435,000. 89.90% of the stock is owned by institutional investors and hedge funds.

PulteGroup Trading Down 0.4 %

NYSE PHM opened at $128.89 on Friday. The stock has a 50-day moving average of $137.29 and a 200-day moving average of $125.27. 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 1-year low of $86.59 and a 1-year high of $149.47. The firm has a market cap of $26.43 billion, a PE ratio of 9.51, a price-to-earnings-growth ratio of 0.52 and a beta of 1.63.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.25. The firm 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%. The business’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.90 earnings per share. As a group, sell-side analysts forecast that PulteGroup, Inc. will post 12.94 EPS for the current 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 paid a $0.22 dividend. The ex-dividend date 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 dividend yield of 0.68%. PulteGroup’s dividend payout ratio (DPR) is presently 5.90%.

Wall Street Analyst Weigh In

PHM has been the subject of several recent research reports. Barclays upped their price target on PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their target price on PulteGroup from $141.00 to $152.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Wells Fargo & Company increased their price target on PulteGroup from $150.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Wedbush reissued a “neutral” rating and issued a $115.00 price objective on shares of PulteGroup in a research report on Tuesday, October 22nd. Finally, Wolfe Research downgraded PulteGroup from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.00.

Insider Activity at PulteGroup

In related news, CFO Robert Oshaughnessy sold 71,007 shares of PulteGroup stock in a transaction on Friday, August 23rd. The shares were 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. The trade was a 44.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thomas J. Folliard sold 19,000 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 45,230 shares in the company, valued at approximately $5,931,462.20. The trade was a 29.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.83% of the stock is owned by company insiders.

PulteGroup 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.