Axxcess Wealth Management LLC Has $862,000 Position in PulteGroup, Inc. (NYSE:PHM)

Axxcess Wealth Management LLC boosted its holdings in PulteGroup, Inc. (NYSE:PHM) by 100.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,009 shares of the construction company’s stock after purchasing an additional 3,009 shares during the quarter. Axxcess Wealth Management LLC’s holdings in PulteGroup were worth $862,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Greenhaven Associates Inc. grew its position in PulteGroup by 0.3% in the 3rd quarter. Greenhaven Associates Inc. now owns 5,593,179 shares of the construction company’s stock valued at $802,789,000 after purchasing an additional 16,871 shares during the period. Pacer Advisors Inc. grew its position in PulteGroup by 8.6% in the 2nd quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock valued at $326,864,000 after purchasing an additional 235,826 shares during the period. Hsbc Holdings PLC grew its position in PulteGroup by 19.6% in the 2nd quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock valued at $168,254,000 after purchasing an additional 250,937 shares during the period. Captrust Financial Advisors grew its position in PulteGroup by 18.4% in the 1st quarter. Captrust Financial Advisors now owns 1,085,939 shares of the construction company’s stock valued at $130,986,000 after purchasing an additional 168,746 shares during the period. Finally, Victory Capital Management Inc. grew its position in PulteGroup by 5.9% in the 2nd quarter. Victory Capital Management Inc. now owns 964,422 shares of the construction company’s stock valued at $106,183,000 after purchasing an additional 53,924 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.

Insider Activity at PulteGroup

In related news, Director Thomas J. Folliard sold 19,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total value of $2,491,660.00. Following the sale, the director now directly owns 45,230 shares in the company, valued at approximately $5,931,462.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Robert Oshaughnessy sold 71,007 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $134.83, for a total transaction of $9,573,873.81. Following the sale, the chief financial officer now directly owns 89,323 shares in the company, valued at $12,043,420.09. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Thomas J. Folliard sold 19,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $131.14, for a total value of $2,491,660.00. Following the sale, the director now owns 45,230 shares in the company, valued at approximately $5,931,462.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.83% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PHM has been the subject of several research reports. Wedbush reissued a “neutral” rating and issued a $115.00 price target on shares of PulteGroup in a research report on Tuesday, October 22nd. Wolfe Research downgraded shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Royal Bank of Canada lifted their price objective on shares of PulteGroup from $113.00 to $120.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 24th. 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 report on Wednesday, October 23rd. 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 report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, PulteGroup presently has a consensus rating of “Moderate Buy” and an average price target of $145.00.

PulteGroup Price Performance

Shares of NYSE:PHM opened at $128.87 on Wednesday. PulteGroup, Inc. has a fifty-two week low of $81.00 and a fifty-two week high of $149.47. The company’s 50-day moving average is $137.30 and its 200 day moving average is $125.02. The company has a market capitalization of $26.43 billion, a P/E ratio of 9.84, a price-to-earnings-growth ratio of 0.54 and a beta of 1.63. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.10 by $0.25. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The business had revenue of $4.48 billion for the quarter, compared to analysts’ expectations of $4.27 billion. During the same period in the previous year, the business posted $2.90 EPS. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, equities research analysts forecast that PulteGroup, Inc. will post 12.94 earnings per share for the current year.

PulteGroup Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Tuesday, September 17th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend was Tuesday, September 17th. PulteGroup’s dividend payout ratio is currently 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.