Brooklyn Investment Group Invests $148,000 in PulteGroup, Inc. (NYSE:PHM)

Brooklyn Investment Group bought a new position in shares of PulteGroup, Inc. (NYSE:PHM) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,031 shares of the construction company’s stock, valued at approximately $148,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. FMR LLC lifted its holdings in PulteGroup by 102.3% during the 3rd quarter. FMR LLC now owns 9,040,828 shares of the construction company’s stock worth $1,297,630,000 after purchasing an additional 4,571,757 shares during the last quarter. Dai ichi Life Insurance Company Ltd acquired a new stake in PulteGroup during the 3rd quarter worth approximately $593,000. Private Trust Co. NA lifted its holdings in PulteGroup by 257.6% during the 3rd quarter. Private Trust Co. NA now owns 4,223 shares of the construction company’s stock worth $606,000 after purchasing an additional 3,042 shares during the last quarter. Vision Capital Corp acquired a new stake in PulteGroup during the 3rd quarter worth approximately $22,348,000. Finally, Hancock Whitney Corp acquired a new stake in PulteGroup during the 3rd quarter worth approximately $253,000. 89.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PHM has been the subject of several analyst reports. Wells Fargo & Company lifted their price objective on PulteGroup from $150.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Evercore ISI dropped their price objective on PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Wedbush reaffirmed a “neutral” rating and issued a $115.00 price objective on shares of PulteGroup in a report on Tuesday, October 22nd. BTIG Research lifted their price objective on PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Bank of America lifted their price objective on PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Six investment 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 stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.00.

PulteGroup Trading Up 0.7 %

Shares of PHM stock opened at $136.53 on Thursday. The firm has a market capitalization of $28.00 billion, a P/E ratio of 10.07, a P/E/G ratio of 0.56 and a beta of 1.63. PulteGroup, Inc. has a twelve month low of $86.59 and a twelve month high of $149.47. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.14. The stock’s fifty day simple moving average is $136.51 and its 200 day simple moving average is $126.25.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, beating analysts’ consensus estimates of $3.10 by $0.25. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The firm had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.27 billion. During the same quarter in the previous year, the company posted $2.90 EPS. The business’s revenue was up 11.8% on a year-over-year basis. As a group, sell-side 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 will be paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend is Tuesday, December 17th. This is a positive change from PulteGroup’s previous quarterly dividend of $0.20. PulteGroup’s payout ratio is 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.