Independent Advisor Alliance Buys 2,615 Shares of PulteGroup, Inc. (NYSE:PHM)

Independent Advisor Alliance lifted its stake in PulteGroup, Inc. (NYSE:PHM) by 47.4% during the third quarter, Holdings Channel reports. The fund owned 8,133 shares of the construction company’s stock after acquiring an additional 2,615 shares during the quarter. Independent Advisor Alliance’s holdings in PulteGroup were worth $1,167,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in PHM. WR Wealth Planners LLC grew its holdings in PulteGroup by 54.7% during the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock valued at $26,000 after purchasing an additional 82 shares during the last quarter. Fortitude Family Office LLC boosted its holdings 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 buying an additional 99 shares during the period. LRI Investments LLC acquired a new position in PulteGroup in the 1st quarter valued at $28,000. Transcendent Capital Group LLC bought a new position in PulteGroup in the 3rd quarter worth $29,000. Finally, Rothschild Investment LLC bought a new position in PulteGroup in the 2nd quarter worth $31,000. 89.90% of the stock is owned by institutional investors.

PulteGroup Trading Down 1.5 %

Shares of PulteGroup stock opened at $135.63 on Wednesday. PulteGroup, Inc. has a 52-week low of $86.59 and a 52-week high of $149.47. The firm has a market capitalization of $27.82 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 0.56 and a beta of 1.63. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.73. The company’s fifty day moving average price is $136.60 and its two-hundred day moving average price is $126.17.

PulteGroup (NYSE:PHM) last issued its earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.25. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The business had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.27 billion. During the same period in the previous year, the business earned $2.90 EPS. The firm’s revenue was up 11.8% on a year-over-year basis. On average, 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 paid a $0.22 dividend. This is a positive change from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Tuesday, December 17th. PulteGroup’s dividend payout ratio is currently 5.90%.

Analyst Ratings Changes

A number of research firms have issued reports on PHM. Wolfe Research cut shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Oppenheimer decreased their target price on PulteGroup from $168.00 to $165.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Wedbush reaffirmed a “neutral” rating and issued a $115.00 price target on shares of PulteGroup in a research report on Tuesday, October 22nd. Evercore ISI reduced their price objective on PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Finally, Bank of America boosted their target price on shares of PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $145.00.

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.