Greenfield Savings Bank Boosts Stake in PulteGroup, Inc. (NYSE:PHM)

Greenfield Savings Bank lifted its position in shares of PulteGroup, Inc. (NYSE:PHM) by 5.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,052 shares of the construction company’s stock after acquiring an additional 394 shares during the quarter. Greenfield Savings Bank’s holdings in PulteGroup were worth $768,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of PHM. Fortitude Family Office LLC raised its position in shares of PulteGroup by 115.1% during the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock worth $27,000 after purchasing an additional 99 shares during the last quarter. Transcendent Capital Group LLC acquired a new position in shares of PulteGroup during the 3rd quarter worth about $29,000. JNBA Financial Advisors acquired a new position in shares of PulteGroup during the 3rd quarter worth about $43,000. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of PulteGroup by 1,059.3% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 313 shares of the construction company’s stock worth $45,000 after purchasing an additional 286 shares during the last quarter. Finally, Grove Bank & Trust raised its position in shares of PulteGroup by 18.4% during the 3rd quarter. Grove Bank & Trust now owns 463 shares of the construction company’s stock worth $66,000 after purchasing an additional 72 shares during the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Stock Performance

Shares of PHM stock opened at $108.94 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.14. PulteGroup, Inc. has a 52 week low of $100.24 and a 52 week high of $149.47. The stock has a market capitalization of $22.34 billion, a PE ratio of 8.03, a P/E/G ratio of 0.48 and a beta of 1.67. The firm has a 50 day moving average of $121.62 and a two-hundred day moving average of $126.91.

PulteGroup (NYSE:PHM) last released its quarterly earnings data 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. The business had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.27 billion. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.90 EPS. On average, research analysts predict that PulteGroup, Inc. will post 12.94 EPS for the current fiscal year.

PulteGroup Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Tuesday, December 17th were paid a dividend of $0.22 per share. This is a positive change from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend was Tuesday, December 17th. PulteGroup’s dividend payout ratio (DPR) is currently 6.49%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PHM shares. StockNews.com downgraded shares of PulteGroup from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Citigroup cut their price objective on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating for the company in a report on Monday, January 6th. JPMorgan Chase & Co. cut their price objective on shares of PulteGroup from $162.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, December 13th. Wells Fargo & Company cut their price objective on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Finally, Barclays restated an “equal weight” rating and set a $140.00 price target (down previously from $150.00) on shares of PulteGroup in a report on Wednesday, December 11th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $146.85.

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.