Financial Advocates Investment Management Takes Position in PulteGroup, Inc. (NYSE:PHM)

Financial Advocates Investment Management acquired a new stake in PulteGroup, Inc. (NYSE:PHM) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 14,212 shares of the construction company’s stock, valued at approximately $2,040,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Fortitude Family Office LLC boosted its stake in shares of PulteGroup by 115.1% in the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock valued at $27,000 after buying an additional 99 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of PulteGroup by 22.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 119,794 shares of the construction company’s stock valued at $17,218,000 after buying an additional 22,186 shares during the period. Concord Wealth Partners boosted its stake in shares of PulteGroup by 1.7% in the 3rd quarter. Concord Wealth Partners now owns 5,002 shares of the construction company’s stock valued at $718,000 after buying an additional 83 shares during the period. Riggs Asset Managment Co. Inc. lifted its stake in PulteGroup by 7,042.9% during the third quarter. Riggs Asset Managment Co. Inc. now owns 500 shares of the construction company’s stock worth $72,000 after purchasing an additional 493 shares during the last quarter. Finally, Custom Index Systems LLC lifted its stake in PulteGroup by 42.3% during the third quarter. Custom Index Systems LLC now owns 3,449 shares of the construction company’s stock worth $495,000 after purchasing an additional 1,025 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Trading Down 0.6 %

NYSE:PHM opened at $129.53 on Friday. The firm has a market cap of $26.56 billion, a P/E ratio of 9.55, a PEG ratio of 0.53 and a beta of 1.62. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.14. The stock’s 50 day simple moving average is $137.45 and its 200-day simple moving average is $123.69. PulteGroup, Inc. has a 12-month low of $72.45 and a 12-month high of $149.47.

PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.10 by $0.25. The business had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.27 billion. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.90 earnings per share. Equities analysts anticipate that PulteGroup, Inc. will post 12.92 EPS for the current year.

PulteGroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Tuesday, September 17th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend was Tuesday, September 17th. PulteGroup’s dividend payout ratio is presently 5.90%.

Analysts Set New Price Targets

PHM has been the subject of several recent analyst reports. Wedbush restated a “neutral” rating and set a $115.00 target price on shares of PulteGroup in a research note on Tuesday, October 22nd. Evercore ISI decreased their target price on PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. UBS Group boosted their target price on PulteGroup from $148.00 to $154.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Barclays boosted their target price on PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, Wolfe Research cut PulteGroup from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $145.00.

Insider Buying and Selling

In related news, CFO Robert Oshaughnessy sold 71,007 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer now owns 89,323 shares of the company’s stock, valued at $12,043,420.09. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Thomas J. Folliard sold 19,000 shares of the company’s 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 transaction, the director now 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Robert Oshaughnessy sold 71,007 shares of the company’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 transaction, the chief financial officer now directly owns 89,323 shares in the company, valued at $12,043,420.09. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.83% of the stock is currently owned by corporate insiders.

About PulteGroup

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.