Patten Group Inc. Purchases 119 Shares of PulteGroup, Inc. (NYSE:PHM)

Patten Group Inc. increased its position in PulteGroup, Inc. (NYSE:PHM) by 3.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,924 shares of the construction company’s stock after acquiring an additional 119 shares during the quarter. Patten Group Inc.’s holdings in PulteGroup were worth $563,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Wedmont Private Capital raised its holdings in PulteGroup by 4.2% in the 3rd quarter. Wedmont Private Capital now owns 2,940 shares of the construction company’s stock worth $410,000 after acquiring an additional 119 shares during the period. Strategic Wealth Partners Ltd. increased its holdings in shares of PulteGroup by 9.7% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 2,552 shares of the construction company’s stock worth $366,000 after purchasing an additional 225 shares during the period. Brookstone Capital Management bought a new position in shares of PulteGroup during the 3rd quarter worth about $267,000. Artemis Investment Management LLP increased its holdings in shares of PulteGroup by 30.0% during the 3rd quarter. Artemis Investment Management LLP now owns 45,116 shares of the construction company’s stock worth $6,475,000 after purchasing an additional 10,420 shares during the period. Finally, Sugarloaf Wealth Management LLC increased its holdings in shares of PulteGroup by 9.5% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 1,725 shares of the construction company’s stock worth $248,000 after purchasing an additional 150 shares during the period. Institutional investors own 89.90% of the company’s stock.

PulteGroup Price Performance

PHM opened at $138.65 on Friday. PulteGroup, Inc. has a one year low of $68.80 and a one year high of $145.84. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.76 and a quick ratio of 0.76. The company’s 50 day simple moving average is $133.04 and its 200-day simple moving average is $121.21. The stock has a market capitalization of $28.77 billion, a P/E ratio of 10.58, a price-to-earnings-growth ratio of 0.57 and a beta of 1.62.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, July 23rd. The construction company reported $3.83 EPS for the quarter, beating the consensus estimate of $3.27 by $0.56. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. The business had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.49 billion. During the same period in the prior year, the firm earned $3.00 earnings per share. PulteGroup’s revenue was up 9.8% compared to the same quarter last year. Sell-side analysts anticipate that PulteGroup, Inc. will post 12.9 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 17th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.80 annualized dividend and a dividend yield of 0.58%. PulteGroup’s dividend payout ratio (DPR) is currently 6.10%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PHM shares. BTIG Research boosted their price objective on shares of PulteGroup from $133.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Wedbush restated a “neutral” rating and set a $115.00 price objective on shares of PulteGroup in a report on Friday, August 16th. Barclays upped their target price on shares of PulteGroup from $131.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Raymond James upped their target price on shares of PulteGroup from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Citigroup lowered their target price on shares of PulteGroup from $129.00 to $117.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 2nd. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $141.14.

Insider Activity

In other news, Director Thomas J. Folliard sold 19,000 shares of the 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 sale, the director now directly owns 45,230 shares of the company’s stock, valued at $5,931,462.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other PulteGroup news, CFO Robert Oshaughnessy sold 28,993 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $129.29, for a total value of $3,748,504.97. Following the transaction, the chief financial officer now directly owns 160,330 shares of the company’s stock, valued at approximately $20,729,065.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas J. Folliard sold 19,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total transaction of $2,491,660.00. Following the completion of the sale, the director now owns 45,230 shares in the company, valued at approximately $5,931,462.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 119,000 shares of company stock valued at $15,814,039 over the last three months. 0.83% of the stock is owned by insiders.

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.