Homestead Advisers Corp Raises Stock Holdings in PulteGroup, Inc. $PHM

Homestead Advisers Corp raised its stake in PulteGroup, Inc. (NYSE:PHM) by 4.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 478,500 shares of the construction company’s stock after purchasing an additional 20,300 shares during the quarter. Homestead Advisers Corp’s holdings in PulteGroup were worth $63,224,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of PHM. Norges Bank acquired a new position in shares of PulteGroup in the 2nd quarter worth approximately $404,339,000. Massachusetts Financial Services Co. MA purchased a new stake in PulteGroup in the third quarter valued at approximately $315,883,000. AGF Management Ltd. acquired a new position in PulteGroup during the third quarter worth $174,347,000. First Trust Advisors LP boosted its position in shares of PulteGroup by 27.2% during the second quarter. First Trust Advisors LP now owns 3,199,906 shares of the construction company’s stock worth $337,462,000 after buying an additional 683,728 shares during the period. Finally, American Century Companies Inc. boosted its position in shares of PulteGroup by 143.8% during the second quarter. American Century Companies Inc. now owns 772,762 shares of the construction company’s stock worth $81,496,000 after buying an additional 455,754 shares during the period. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PHM shares. BTIG Research initiated coverage on PulteGroup in a research note on Monday, December 1st. They set a “neutral” rating on the stock. Royal Bank Of Canada increased their price target on shares of PulteGroup from $111.00 to $115.00 and gave the stock a “sector perform” rating in a research report on Friday, January 30th. The Goldman Sachs Group reissued a “neutral” rating and issued a $144.00 price objective on shares of PulteGroup in a research note on Tuesday, January 13th. Bank of America cut their target price on shares of PulteGroup from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, October 10th. Finally, Evercore ISI increased their target price on shares of PulteGroup from $134.00 to $143.00 in a report on Friday, January 30th. Nine analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, PulteGroup presently has an average rating of “Moderate Buy” and a consensus target price of $140.15.

PulteGroup Stock Up 3.0%

PHM stock opened at $134.43 on Thursday. The company’s 50 day moving average price is $125.06 and its 200 day moving average price is $125.21. The firm has a market capitalization of $26.20 billion, a price-to-earnings ratio of 12.09, a PEG ratio of 1.43 and a beta of 1.33. PulteGroup, Inc. has a fifty-two week low of $88.07 and a fifty-two week high of $142.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.81 and a current ratio of 1.01.

PulteGroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 16th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Tuesday, December 16th. This is a positive change from PulteGroup’s previous quarterly dividend of $0.22. PulteGroup’s dividend payout ratio (DPR) is 9.35%.

About PulteGroup

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.