Eagle Asset Management Inc. Has $2.24 Million Holdings in PulteGroup, Inc. (NYSE:PHM)

Eagle Asset Management Inc. lowered its position in PulteGroup, Inc. (NYSE:PHM) by 86.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 16,904 shares of the construction company’s stock after selling 104,527 shares during the period. Eagle Asset Management Inc.’s holdings in PulteGroup were worth $2,243,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Grove Bank & Trust boosted its position in PulteGroup by 18.4% during the third quarter. Grove Bank & Trust now owns 463 shares of the construction company’s stock valued at $66,000 after acquiring an additional 72 shares during the last quarter. WR Wealth Planners LLC boosted its position in shares of PulteGroup by 54.7% during the 2nd quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock valued at $26,000 after purchasing an additional 82 shares in the last quarter. Cromwell Holdings LLC grew its stake in PulteGroup by 17.2% during the third quarter. Cromwell Holdings LLC now owns 565 shares of the construction company’s stock worth $81,000 after purchasing an additional 83 shares during the period. Concord Wealth Partners increased its holdings in PulteGroup by 1.7% in the third quarter. Concord Wealth Partners now owns 5,002 shares of the construction company’s stock worth $718,000 after purchasing an additional 83 shares in the last quarter. Finally, Lebenthal Global Advisors LLC lifted its stake in PulteGroup by 3.9% in the second quarter. Lebenthal Global Advisors LLC now owns 2,329 shares of the construction company’s stock valued at $256,000 after buying an additional 87 shares during the period. 89.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. BTIG Research raised their price objective on shares of PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Evercore ISI reduced their price target on shares of PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Bank of America upped their price objective on shares of PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Oppenheimer reduced their target price on PulteGroup from $168.00 to $165.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Finally, Wedbush reaffirmed a “neutral” rating and set a $115.00 price target on shares of PulteGroup in a research note on Tuesday, October 22nd. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $145.00.

PulteGroup Price Performance

PHM opened at $137.61 on Tuesday. The firm’s fifty day moving average price is $136.69 and its two-hundred day moving average price is $126.05. The company has a market capitalization of $28.22 billion, a price-to-earnings ratio of 10.15, a P/E/G ratio of 0.53 and a beta of 1.63. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.73. PulteGroup, Inc. has a 1 year low of $86.59 and a 1 year high of $149.47.

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

PulteGroup Increases Dividend

The firm 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. This is a positive change from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date is Tuesday, December 17th. PulteGroup’s dividend payout ratio (DPR) is 5.90%.

Insiders Place Their Bets

In other news, Director Thomas J. Folliard sold 19,000 shares of PulteGroup stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total transaction of $2,491,660.00. Following the sale, the director now directly owns 45,230 shares in the company, valued at $5,931,462.20. The trade was a 29.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.75% of the company’s stock.

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.