Cable Hill Partners LLC Purchases Shares of 1,440 PulteGroup, Inc. (NYSE:PHM)

Cable Hill Partners LLC purchased a new stake in PulteGroup, Inc. (NYSE:PHM) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,440 shares of the construction company’s stock, valued at approximately $207,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fortitude Family Office LLC raised its stake in PulteGroup by 115.1% in the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock valued at $27,000 after buying an additional 99 shares in the last quarter. Transcendent Capital Group LLC acquired a new stake in shares of PulteGroup during the third quarter worth about $29,000. WR Wealth Planners LLC increased its position in shares of PulteGroup by 54.7% during the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock worth $26,000 after purchasing an additional 82 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of PulteGroup during the first quarter worth about $28,000. Finally, Rothschild Investment LLC acquired a new stake in shares of PulteGroup during the second quarter worth about $31,000. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Price Performance

Shares of PHM opened at $129.48 on Friday. PulteGroup, Inc. has a twelve month low of $86.59 and a twelve month high of $149.47. The stock’s 50 day moving average is $137.29 and its two-hundred day moving average is $125.14. The firm has a market capitalization of $26.55 billion, a PE ratio of 9.55, a P/E/G ratio of 0.52 and a beta of 1.63. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.14.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 earnings per share 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 company had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.27 billion. During the same quarter in the previous year, the company earned $2.90 EPS. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. Research analysts anticipate that PulteGroup, Inc. will post 12.94 earnings per share for the current year.

PulteGroup Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.68%. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. PulteGroup’s dividend payout ratio (DPR) is presently 5.90%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. UBS Group lifted their target price on PulteGroup from $148.00 to $154.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. BTIG Research lifted their target price on PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Wedbush reiterated a “neutral” rating and set a $115.00 target price on shares of PulteGroup in a research report on Tuesday, October 22nd. Wells Fargo & Company raised their price target on PulteGroup from $150.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Finally, Bank of America raised their price target on PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $145.00.

Insider Activity

In related news, CFO Robert Oshaughnessy sold 71,007 shares of PulteGroup stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now directly owns 89,323 shares in the company, valued at $12,043,420.09. The trade was a 44.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Thomas J. Folliard sold 19,000 shares of PulteGroup stock in a transaction that occurred on 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 transaction, the director now owns 45,230 shares of the company’s stock, valued at $5,931,462.20. This represents a 29.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.83% of the company’s stock.

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.