Beacon Investment Advisory Services Inc. Has $796,000 Position in PulteGroup, Inc. (NYSE:PHM)

Beacon Investment Advisory Services Inc. lowered its position in PulteGroup, Inc. (NYSE:PHM) by 1.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,544 shares of the construction company’s stock after selling 91 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in PulteGroup were worth $796,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PHM. Baader Bank Aktiengesellschaft acquired a new stake in shares of PulteGroup during the 2nd quarter worth about $629,000. Cetera Investment Advisers lifted its stake in shares of PulteGroup by 128.4% during the 1st quarter. Cetera Investment Advisers now owns 94,588 shares of the construction company’s stock worth $11,409,000 after buying an additional 53,175 shares during the last quarter. Trustmark National Bank Trust Department lifted its stake in shares of PulteGroup by 39.8% during the 3rd quarter. Trustmark National Bank Trust Department now owns 39,589 shares of the construction company’s stock worth $5,682,000 after buying an additional 11,269 shares during the last quarter. New Millennium Group LLC lifted its stake in shares of PulteGroup by 10,625.8% during the 3rd quarter. New Millennium Group LLC now owns 9,546 shares of the construction company’s stock worth $1,370,000 after buying an additional 9,457 shares during the last quarter. Finally, Vision Capital Corp acquired a new stake in shares of PulteGroup during the 3rd quarter worth about $22,348,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

Wall Street Analyst Weigh In

PHM has been the subject of a number of research reports. Oppenheimer cut their target price on shares of PulteGroup from $168.00 to $165.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. BTIG Research lifted their price objective on shares of PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Evercore ISI dropped their price objective on shares of PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Wedbush reiterated a “neutral” rating and issued a $115.00 price objective on shares of PulteGroup in a research note on Tuesday, October 22nd. Finally, UBS Group lifted their price objective on shares of PulteGroup from $148.00 to $154.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $145.00.

PulteGroup Price Performance

Shares of NYSE:PHM opened at $135.16 on Tuesday. The firm has a 50 day moving average of $136.04 and a 200-day moving average of $126.67. The stock has a market capitalization of $27.72 billion, a PE ratio of 9.97, a PEG ratio of 0.55 and a beta of 1.62. 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, Inc. has a 12 month low of $89.81 and a 12 month high of $149.47.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.25. The company had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.27 billion. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The firm’s revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.90 EPS. On average, equities 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 will be paid on Friday, January 3rd. Investors of record on Tuesday, December 17th will be issued a dividend of $0.22 per share. The ex-dividend date is Tuesday, December 17th. 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%. PulteGroup’s payout ratio is 5.90%.

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.