Zurcher Kantonalbank Zurich Cantonalbank Has $74.92 Million Stock Position in PulteGroup, Inc. (NYSE:PHM)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in PulteGroup, Inc. (NYSE:PHM) by 357.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 521,958 shares of the construction company’s stock after acquiring an additional 407,764 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.25% of PulteGroup worth $74,917,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PHM shares. Wells Fargo & Company upped their price target on shares of PulteGroup from $150.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Oppenheimer dropped their target price on PulteGroup from $168.00 to $165.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. UBS Group upped their price objective on PulteGroup from $148.00 to $154.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Wedbush reaffirmed a “neutral” rating and set a $115.00 price target on shares of PulteGroup in a research note on Tuesday, October 22nd. Finally, Evercore ISI cut their price target on shares of PulteGroup from $198.00 to $195.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $145.00.

PulteGroup Stock Performance

Shares of PHM opened at $136.53 on Thursday. The firm’s fifty day simple moving average is $136.51 and its two-hundred day simple moving average is $126.25. PulteGroup, Inc. has a 12 month low of $86.59 and a 12 month high of $149.47. The stock has a market capitalization of $28.00 billion, a P/E ratio of 10.07, a price-to-earnings-growth ratio of 0.56 and a beta of 1.63. 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 (NYSE:PHM) last posted its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.10 by $0.25. The firm had revenue of $4.48 billion for the quarter, compared to analysts’ expectations of $4.27 billion. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.90 EPS. As a group, analysts predict that PulteGroup, Inc. will post 12.94 EPS for the current 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 paid a $0.22 dividend. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Tuesday, December 17th. 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.