Segment Wealth Management LLC Purchases Shares of 88,292 PulteGroup, Inc. (NYSE:PHM)

Segment Wealth Management LLC purchased a new position in shares of PulteGroup, Inc. (NYSE:PHM) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 88,292 shares of the construction company’s stock, valued at approximately $12,673,000.

Other hedge funds have also recently modified their holdings of the company. Blair William & Co. IL grew its position in PulteGroup by 1.9% during the 1st quarter. Blair William & Co. IL now owns 27,269 shares of the construction company’s stock worth $3,289,000 after purchasing an additional 516 shares during the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of PulteGroup by 6.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 297,544 shares of the construction company’s stock valued at $35,890,000 after buying an additional 17,369 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of PulteGroup by 4.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 621,064 shares of the construction company’s stock valued at $74,913,000 after acquiring an additional 28,774 shares during the period. Lazard Asset Management LLC raised its stake in PulteGroup by 1.1% in the 1st quarter. Lazard Asset Management LLC now owns 464,217 shares of the construction company’s stock worth $55,993,000 after acquiring an additional 5,022 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in PulteGroup by 34.4% during the 1st quarter. Russell Investments Group Ltd. now owns 679,940 shares of the construction company’s stock worth $81,901,000 after acquiring an additional 173,914 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Trading Down 7.3 %

PHM stock opened at $133.78 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.15. PulteGroup, Inc. has a 52-week low of $68.80 and a 52-week high of $149.47. The company’s 50-day simple moving average is $136.45 and its 200-day simple moving average is $122.87. The firm has a market cap of $27.76 billion, a P/E ratio of 10.20, a PEG ratio of 0.61 and a beta of 1.62.

PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Tuesday, July 23rd. The construction company reported $3.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.56. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.49 billion. PulteGroup had a return on equity of 25.67% and a net margin of 16.75%. PulteGroup’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.00 earnings per share. As a group, equities analysts forecast that PulteGroup, Inc. will post 12.9 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 17th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, September 17th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.60%. PulteGroup’s dividend payout ratio (DPR) is 6.10%.

Wall Street Analyst Weigh In

PHM has been the topic of a number of research reports. BTIG Research increased their price objective on PulteGroup from $133.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Wolfe Research downgraded shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. lifted their price objective on shares of PulteGroup from $141.00 to $152.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Bank of America upped their price objective on shares of PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Finally, Wedbush reissued a “neutral” rating and set a $115.00 target price on shares of PulteGroup in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.14.

Insider Activity at PulteGroup

In other PulteGroup news, Director Thomas J. Folliard sold 19,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $131.14, for a total transaction of $2,491,660.00. Following the completion of the transaction, the director now directly owns 45,230 shares in the company, valued at approximately $5,931,462.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Robert Oshaughnessy sold 71,007 shares of PulteGroup stock in a transaction dated 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 sale, the chief financial officer now directly owns 89,323 shares in the company, valued at approximately $12,043,420.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas J. Folliard sold 19,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total value of $2,491,660.00. Following the sale, the director now owns 45,230 shares of the company’s stock, valued at approximately $5,931,462.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 119,000 shares of company stock valued at $15,814,039. 0.83% of the stock is owned by company insiders.

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.