AM Squared Ltd Makes New Investment in PulteGroup, Inc. (NYSE:PHM)

AM Squared Ltd bought a new position in PulteGroup, Inc. (NYSE:PHM) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 500 shares of the construction company’s stock, valued at approximately $72,000.

Other large investors have also bought and sold shares of the company. WR Wealth Planners LLC increased its position in PulteGroup by 54.7% in the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock worth $26,000 after buying an additional 82 shares during the last quarter. Fortitude Family Office LLC increased its position in PulteGroup by 115.1% in the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock worth $27,000 after buying an additional 99 shares during the last quarter. LRI Investments LLC purchased a new stake in PulteGroup in the first quarter worth $28,000. Transcendent Capital Group LLC purchased a new stake in PulteGroup in the third quarter worth $29,000. Finally, Rothschild Investment LLC purchased a new stake in PulteGroup in the second quarter worth $31,000. 89.90% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions 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 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 in the company, valued at $5,931,462.20. The trade was a 29.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert Oshaughnessy sold 71,007 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were 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 owns 89,323 shares in the company, valued at approximately $12,043,420.09. This represents a 44.29 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PHM shares. Raymond James lifted their price target on PulteGroup from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Wedbush reiterated a “neutral” rating and issued a $115.00 price target on shares of PulteGroup in a research report on Tuesday, October 22nd. Royal Bank of Canada lifted their price target on PulteGroup from $113.00 to $120.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 24th. Wells Fargo & Company lifted their price target on PulteGroup from $150.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Finally, JPMorgan Chase & Co. lifted their price target on PulteGroup from $141.00 to $152.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $145.00.

PulteGroup Stock Down 0.4 %

PHM opened at $128.89 on Friday. The company has a market cap of $26.43 billion, a P/E ratio of 9.51, a P/E/G ratio of 0.52 and a beta of 1.63. The business’s 50-day moving average price is $137.29 and its 200-day moving average price is $125.37. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.14. PulteGroup, Inc. has a 12 month low of $86.59 and a 12 month high of $149.47.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, topping the consensus estimate of $3.10 by $0.25. The firm had revenue of $4.48 billion for 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.90 earnings per share. On average, equities analysts expect that PulteGroup, Inc. will post 12.94 EPS for the current year.

PulteGroup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.88 annualized dividend and a dividend yield of 0.68%. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. PulteGroup’s payout ratio is currently 5.90%.

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.