Harvest Fund Management Co. Ltd Has $853,000 Stock Position in PulteGroup, Inc. (NYSE:PHM)

Harvest Fund Management Co. Ltd raised its holdings in PulteGroup, Inc. (NYSE:PHM) by 102.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,941 shares of the construction company’s stock after buying an additional 3,005 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in PulteGroup were worth $853,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PHM. Price T Rowe Associates Inc. MD lifted its position in shares of PulteGroup by 3.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 331,553 shares of the construction company’s stock worth $39,993,000 after acquiring an additional 12,164 shares during the period. Ascent Group LLC lifted its position in shares of PulteGroup by 4.5% in the 1st quarter. Ascent Group LLC now owns 3,120 shares of the construction company’s stock worth $376,000 after acquiring an additional 135 shares during the period. Interval Partners LP bought a new stake in shares of PulteGroup in the 1st quarter worth approximately $1,206,000. B. Riley Wealth Advisors Inc. lifted its position in shares of PulteGroup by 7.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,472 shares of the construction company’s stock worth $539,000 after acquiring an additional 308 shares during the period. Finally, Meiji Yasuda Life Insurance Co lifted its position in shares of PulteGroup by 148.6% in the 1st quarter. Meiji Yasuda Life Insurance Co now owns 13,050 shares of the construction company’s stock worth $1,574,000 after acquiring an additional 7,800 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PHM shares. Bank of America raised their price objective on PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Wedbush reiterated a “neutral” rating and issued a $115.00 price objective on shares of PulteGroup in a research report on Tuesday, October 22nd. Wells Fargo & Company raised their target price on PulteGroup from $150.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Oppenheimer cut their target price on PulteGroup from $168.00 to $165.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Finally, UBS Group raised their target price on PulteGroup from $148.00 to $154.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Six investment 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, the company has an average rating of “Moderate Buy” and an average price target of $145.00.

Insider Activity

In other news, Director Thomas J. Folliard sold 19,000 shares of PulteGroup stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total value of $2,491,660.00. Following the completion of the sale, the director now directly 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.75% of the company’s stock.

PulteGroup Trading Up 6.0 %

PHM stock opened at $137.61 on Tuesday. The business has a fifty day moving average price of $136.69 and a 200 day moving average price of $126.05. PulteGroup, Inc. has a fifty-two week low of $86.59 and a fifty-two week high of $149.47. The stock has a market capitalization of $28.22 billion, a price-to-earnings ratio of 10.15, a P/E/G ratio of 0.53 and a beta of 1.63. 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 released its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, beating analysts’ consensus estimates of $3.10 by $0.25. The firm had revenue of $4.48 billion during 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% on a year-over-year basis. During the same period last year, the firm posted $2.90 EPS. Analysts expect that PulteGroup, Inc. will post 12.94 EPS for the current fiscal year.

PulteGroup Increases Dividend

The company 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 $0.22 dividend. 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 0.64%. The ex-dividend date of this dividend is Tuesday, December 17th. PulteGroup’s dividend payout ratio (DPR) 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.