4,785 Shares of PulteGroup, Inc. $PHM Bought by Formidable Asset Management LLC

Formidable Asset Management LLC bought a new stake in PulteGroup, Inc. (NYSE:PHM) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 4,785 shares of the construction company’s stock, valued at approximately $555,000.

Several other hedge funds have also bought and sold shares of PHM. State Street Corp increased its position in PulteGroup by 3.2% during the second quarter. State Street Corp now owns 9,174,111 shares of the construction company’s stock worth $1,261,092,000 after buying an additional 288,054 shares during the last quarter. First Trust Advisors LP raised its stake in PulteGroup by 7.8% in the first quarter. First Trust Advisors LP now owns 4,314,501 shares of the construction company’s stock valued at $507,428,000 after buying an additional 313,581 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of PulteGroup by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 3,146,857 shares of the construction company’s stock valued at $370,008,000 after buying an additional 26,790 shares during the last quarter. Bank of America Corp DE lifted its position in shares of PulteGroup by 4.3% in the first quarter. Bank of America Corp DE now owns 1,963,175 shares of the construction company’s stock valued at $230,889,000 after buying an additional 80,352 shares during the last quarter. Finally, Amundi lifted its position in shares of PulteGroup by 28.6% in the first quarter. Amundi now owns 1,438,508 shares of the construction company’s stock valued at $169,183,000 after buying an additional 319,617 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Wells Fargo & Company decreased their target price on PulteGroup from $150.00 to $145.00 and set an “overweight” rating on the stock in a report on Friday, September 11th. Piper Sandler cut PulteGroup to a “hold” rating and set a $145.00 price target on the stock. in a research note on Thursday, October 8th. Weiss Ratings downgraded PulteGroup from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday, October 30th. Citigroup lifted their price objective on shares of PulteGroup from $122.00 to $127.00 and gave the stock a “neutral” rating in a research report on Monday, October 26th. Finally, Barclays reduced their price objective on shares of PulteGroup from $110.00 to $109.00 and set an “equal weight” rating for the company in a research report on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $136.76.

PulteGroup Stock Down 0.1%

PulteGroup stock opened at $132.36 on Monday. The stock has a market cap of $24.37 billion, a P/E ratio of 14.14, a P/E/G ratio of 2.22 and a beta of 1.17. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.14. PulteGroup, Inc. has a twelve month low of $107.15 and a twelve month high of $144.49. The company’s 50-day moving average price is $119.59 and its two-hundred day moving average price is $124.22.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Thursday, October 22nd. The construction company reported $2.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.63 by ($0.10). PulteGroup had a return on equity of 14.29% and a net margin of 11.24%. The firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter in the prior year, the firm earned $2.96 EPS. The company’s revenue was down 9.8% on a year-over-year basis. As a group, analysts expect that PulteGroup, Inc. will post 9.37 EPS for the current year.

PulteGroup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Tuesday, September 15th were paid a dividend of $0.26 per share. The ex-dividend date was Tuesday, September 15th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. PulteGroup’s dividend payout ratio (DPR) is 11.11%.

PulteGroup Profile

PulteGroup, Inc is a U.S. homebuilding company that develops and builds residential communities. Its brands include Pulte Homes, Centex, Del Webb, DiVosta and John Wieland Homes and Neighborhoods, serving a range of buyers from first-time homeowners to active adults.

The company traces its origins to 1950, when founder William J. Pulte began building homes in the Detroit area. PulteGroup has since expanded its homebuilding operations across numerous markets in the United States.

In addition to constructing and selling homes, PulteGroup offers mortgage lending and related services through Pulte Mortgage and affiliated businesses.