Riggs Asset Managment Co. Inc. Boosts Stock Position in PulteGroup, Inc. (NYSE:PHM)

Riggs Asset Managment Co. Inc. increased its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 7,042.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 500 shares of the construction company’s stock after acquiring an additional 493 shares during the quarter. Riggs Asset Managment Co. Inc.’s holdings in PulteGroup were worth $72,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Grove Bank & Trust lifted its stake in shares of PulteGroup by 18.4% in the 3rd quarter. Grove Bank & Trust now owns 463 shares of the construction company’s stock worth $66,000 after acquiring an additional 72 shares during the period. WR Wealth Planners LLC grew its position in shares of PulteGroup by 54.7% in the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock valued at $26,000 after purchasing an additional 82 shares during the last quarter. Cromwell Holdings LLC lifted its stake in PulteGroup by 17.2% in the 3rd quarter. Cromwell Holdings LLC now owns 565 shares of the construction company’s stock valued at $81,000 after buying an additional 83 shares in the last quarter. Lebenthal Global Advisors LLC lifted its stake in PulteGroup by 3.9% in the 2nd quarter. Lebenthal Global Advisors LLC now owns 2,329 shares of the construction company’s stock valued at $256,000 after buying an additional 87 shares in the last quarter. Finally, Tocqueville Asset Management L.P. grew its holdings in PulteGroup by 2.0% during the 1st quarter. Tocqueville Asset Management L.P. now owns 5,092 shares of the construction company’s stock valued at $614,000 after buying an additional 101 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Down 2.5 %

NYSE PHM opened at $132.47 on Monday. The company has a market capitalization of $27.86 billion, a P/E ratio of 10.61, a PEG ratio of 0.55 and a beta of 1.62. PulteGroup, Inc. has a 12 month low of $71.20 and a 12 month high of $149.47. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.76. The company’s 50 day simple moving average is $137.14 and its 200 day simple moving average is $123.21.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data 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 company 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 company’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.90 EPS. Equities research analysts expect that PulteGroup, Inc. will post 12.9 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Tuesday, September 17th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date was Tuesday, September 17th. PulteGroup’s dividend payout ratio is 6.41%.

Insiders Place Their Bets

In other news, 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 transaction, the director now directly owns 45,230 shares of the company’s stock, valued at approximately $5,931,462.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Thomas J. Folliard sold 19,000 shares of the company’s stock in a transaction dated 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 represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert Oshaughnessy sold 71,007 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $134.83, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 119,000 shares of company stock worth $15,814,039. Corporate insiders own 0.83% of the company’s stock.

Analyst Upgrades and Downgrades

PHM has been the subject of a number of recent research reports. Wedbush reiterated a “neutral” rating and set a $115.00 price objective on shares of PulteGroup in a research report on Tuesday, October 22nd. 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 research report on Thursday, July 25th. Oppenheimer lowered their price target on PulteGroup from $168.00 to $165.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Citigroup dropped their price objective on PulteGroup from $129.00 to $117.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. Finally, Bank of America lifted their price objective on shares of PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Six 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 stock currently has a consensus rating of “Moderate Buy” and an average price target of $145.00.

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.