PNC Financial Services Group Inc. Raises Stock Position in PulteGroup, Inc. $PHM

PNC Financial Services Group Inc. boosted its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 12.8% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 46,314 shares of the construction company’s stock after acquiring an additional 5,267 shares during the period. PNC Financial Services Group Inc.’s holdings in PulteGroup were worth $4,884,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Fidelis Capital Partners LLC increased its stake in shares of PulteGroup by 1.0% during the second quarter. Fidelis Capital Partners LLC now owns 8,760 shares of the construction company’s stock worth $924,000 after purchasing an additional 85 shares in the last quarter. Cooper Financial Group boosted its holdings in PulteGroup by 1.4% in the 2nd quarter. Cooper Financial Group now owns 6,697 shares of the construction company’s stock worth $706,000 after buying an additional 92 shares during the last quarter. Tocqueville Asset Management L.P. increased its stake in PulteGroup by 2.0% during the 1st quarter. Tocqueville Asset Management L.P. now owns 5,062 shares of the construction company’s stock worth $520,000 after buying an additional 100 shares in the last quarter. Leavell Investment Management Inc. raised its holdings in shares of PulteGroup by 4.7% during the second quarter. Leavell Investment Management Inc. now owns 2,260 shares of the construction company’s stock valued at $239,000 after acquiring an additional 102 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its position in shares of PulteGroup by 0.9% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 11,635 shares of the construction company’s stock valued at $1,227,000 after acquiring an additional 103 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on PHM shares. Raymond James Financial reiterated an “outperform” rating and set a $140.00 price target (up from $115.00) on shares of PulteGroup in a research report on Wednesday, July 23rd. Citigroup lifted their target price on shares of PulteGroup from $132.00 to $143.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 1st. Oppenheimer increased their target price on shares of PulteGroup from $132.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, July 23rd. Seaport Res Ptn raised shares of PulteGroup from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 22nd. Finally, Wedbush restated an “outperform” rating and set a $150.00 price target on shares of PulteGroup in a research report on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, PulteGroup has an average rating of “Moderate Buy” and an average target price of $133.67.

PulteGroup Stock Down 0.2%

Shares of PHM opened at $118.21 on Monday. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $142.11. The company has a market capitalization of $23.04 billion, a PE ratio of 9.10, a price-to-earnings-growth ratio of 0.95 and a beta of 1.25. The stock has a fifty day simple moving average of $126.67 and a two-hundred day simple moving average of $117.13. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.13.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, October 21st. The construction company reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.86 by $0.10. PulteGroup had a net margin of 14.93% and a return on equity of 19.58%. The firm had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.31 billion. During the same quarter in the previous year, the company posted $3.35 EPS. The company’s revenue was down 1.6% compared to the same quarter last year. As a group, equities analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 16th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.7%. The ex-dividend date was Tuesday, September 16th. PulteGroup’s payout ratio is presently 6.77%.

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.