Elk River Wealth Management LLC Grows Position in PulteGroup, Inc. (NYSE:PHM)

Elk River Wealth Management LLC lifted its holdings in PulteGroup, Inc. (NYSE:PHM) by 1.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 84,650 shares of the construction company’s stock after purchasing an additional 1,388 shares during the period. PulteGroup comprises 2.2% of Elk River Wealth Management LLC’s holdings, making the stock its 14th biggest position. Elk River Wealth Management LLC’s holdings in PulteGroup were worth $12,166,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Benjamin Edwards Inc. purchased a new stake in PulteGroup during the first quarter valued at approximately $26,000. WR Wealth Planners LLC boosted its stake in PulteGroup by 54.7% in the 2nd quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock worth $26,000 after purchasing an additional 82 shares in the last quarter. LRI Investments LLC acquired a new position in PulteGroup during the 1st quarter valued at approximately $28,000. Rothschild Investment LLC purchased a new position in shares of PulteGroup in the second quarter worth $31,000. Finally, Candriam S.C.A. acquired a new stake in shares of PulteGroup during the second quarter worth $33,000. 89.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PHM shares. JPMorgan Chase & Co. lifted their target price on PulteGroup from $141.00 to $152.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Barclays upped their price objective on shares of PulteGroup from $131.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Raymond James raised their target price on shares of PulteGroup from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Oppenheimer upped their price target on shares of PulteGroup from $151.00 to $168.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Finally, BTIG Research lifted their price objective on PulteGroup from $133.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $141.14.

PulteGroup Stock Performance

NYSE PHM traded up $1.22 during trading on Monday, reaching $140.42. The company’s stock had a trading volume of 128,447 shares, compared to its average volume of 1,825,042. The business’s fifty day moving average price is $133.46 and its 200-day moving average price is $121.55. PulteGroup, Inc. has a twelve month low of $68.80 and a twelve month high of $145.84. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market cap of $29.54 billion, a price-to-earnings ratio of 11.14, a P/E/G ratio of 0.57 and a beta of 1.62.

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

PulteGroup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Tuesday, September 17th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Tuesday, September 17th. PulteGroup’s dividend payout ratio is currently 6.41%.

Insider Activity at PulteGroup

In related news, Director Thomas J. Folliard sold 19,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $131.14, for a total value of $2,491,660.00. Following the sale, the director now directly owns 45,230 shares in the company, valued at $5,931,462.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Robert Oshaughnessy sold 71,007 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now directly owns 89,323 shares of the company’s stock, valued at $12,043,420.09. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Thomas J. Folliard sold 19,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were 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 owns 45,230 shares in the company, valued at $5,931,462.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 119,000 shares of company stock valued at $15,814,039 in the last ninety days. Corporate insiders own 0.83% of the company’s stock.

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.