BNP Paribas Purchases New Stake in PulteGroup, Inc. (NYSE:PHM)

BNP Paribas bought a new stake in shares of PulteGroup, Inc. (NYSE:PHM) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,914 shares of the construction company’s stock, valued at approximately $1,419,000.

Several other institutional investors have also added to or reduced their stakes in the stock. WR Wealth Planners LLC boosted its position in shares of PulteGroup by 54.7% during 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 in the last quarter. Fortitude Family Office LLC increased its stake 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 purchasing an additional 99 shares in the last quarter. LRI Investments LLC purchased a new position in PulteGroup in the 1st quarter worth approximately $28,000. Transcendent Capital Group LLC bought a new position in shares of PulteGroup during the third quarter valued at $29,000. Finally, Rothschild Investment LLC purchased a new stake in shares of PulteGroup during the 2nd quarter valued at about $31,000. 89.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on PHM shares. Evercore ISI reduced their price target on shares of PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Wedbush reaffirmed a “neutral” rating and set a $115.00 target price on shares of PulteGroup in a research note on Tuesday, October 22nd. BTIG Research increased their target price on PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Bank of America lifted their price target on PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Finally, Wolfe Research lowered shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.00.

PulteGroup Price Performance

NYSE PHM opened at $136.53 on Thursday. PulteGroup, Inc. has a 52-week low of $86.59 and a 52-week high of $149.47. The firm’s 50 day moving average price is $136.51 and its 200-day moving average price is $126.25. The company has a market cap of $28.00 billion, a PE ratio of 10.07, a P/E/G ratio of 0.56 and a beta of 1.63. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.10 by $0.25. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The firm had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.27 billion. During the same quarter in the previous year, the firm earned $2.90 EPS. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. Sell-side analysts forecast that PulteGroup, Inc. will post 12.94 EPS for the current fiscal year.

PulteGroup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 17th will be given a $0.22 dividend. This is a positive change 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 is Tuesday, December 17th. PulteGroup’s dividend payout ratio (DPR) is presently 6.49%.

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.