Commerce Bank Raises Stock Position in PulteGroup, Inc. (NYSE:PHM)

Commerce Bank lifted its position in shares of PulteGroup, Inc. (NYSE:PHM) by 4.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,687 shares of the construction company’s stock after acquiring an additional 1,116 shares during the quarter. Commerce Bank’s holdings in PulteGroup were worth $3,687,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of PHM. WR Wealth Planners LLC increased 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 buying an additional 82 shares in the last quarter. Fortitude Family Office LLC increased its holdings in PulteGroup by 115.1% during the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock valued at $27,000 after acquiring an additional 99 shares in the last quarter. LRI Investments LLC acquired a new position in PulteGroup during the first quarter worth about $28,000. Transcendent Capital Group LLC purchased a new stake in shares of PulteGroup in the third quarter valued at about $29,000. Finally, Rothschild Investment LLC acquired a new stake in PulteGroup during the 2nd quarter valued at $31,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

Analyst Ratings Changes

PHM has been the subject of a number of analyst reports. Wolfe Research cut PulteGroup from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Wells Fargo & Company upped their price target on shares of PulteGroup from $150.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Wedbush reaffirmed a “neutral” rating and set a $115.00 price target on shares of PulteGroup in a research report on Tuesday, October 22nd. Oppenheimer cut their price objective on shares of PulteGroup from $168.00 to $165.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Finally, Evercore ISI dropped their target price on PulteGroup from $198.00 to $195.00 and set an “outperform” rating on the stock 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. According to data from MarketBeat, PulteGroup currently has an average rating of “Moderate Buy” and an average price target of $145.00.

Insider Buying and Selling at PulteGroup

In related news, Director Thomas J. Folliard sold 19,000 shares of the firm’s 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 transaction, the director now owns 45,230 shares in the company, valued at $5,931,462.20. This trade represents a 29.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.83% of the stock is owned by company insiders.

PulteGroup Stock Up 1.3 %

Shares of NYSE:PHM opened at $129.76 on Friday. PulteGroup, Inc. has a 1-year low of $86.59 and a 1-year high of $149.47. The company’s fifty day moving average is $136.74 and its two-hundred day moving average is $125.77. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a market capitalization of $26.61 billion, a price-to-earnings ratio of 9.57, a price-to-earnings-growth ratio of 0.52 and a beta of 1.63.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.25. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The business had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.27 billion. During the same quarter last year, the business posted $2.90 EPS. The business’s revenue was up 11.8% on a year-over-year basis. Equities analysts anticipate that PulteGroup, Inc. will post 12.94 EPS for the current year.

PulteGroup Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th will be given a $0.22 dividend. This is a boost from PulteGroup’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.88 annualized dividend and a yield of 0.68%. PulteGroup’s dividend payout ratio is 6.49%.

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.