King Luther Capital Management Corp Acquires New Stake in PulteGroup, Inc. (NYSE:PHM)

King Luther Capital Management Corp bought a new position in shares of PulteGroup, Inc. (NYSE:PHM) in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,418 shares of the construction company’s stock, valued at approximately $204,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Moors & Cabot Inc. raised its position in PulteGroup by 5.5% in the 3rd quarter. Moors & Cabot Inc. now owns 5,816 shares of the construction company’s stock valued at $838,000 after buying an additional 301 shares during the last quarter. Darwin Wealth Management LLC bought a new position in shares of PulteGroup during the 3rd quarter worth approximately $2,102,000. Advisors Asset Management Inc. raised its holdings in shares of PulteGroup by 29.1% in the third quarter. Advisors Asset Management Inc. now owns 4,660 shares of the construction company’s stock valued at $669,000 after purchasing an additional 1,050 shares during the last quarter. Commerce Bank lifted its position in shares of PulteGroup by 4.5% in the third quarter. Commerce Bank now owns 25,687 shares of the construction company’s stock worth $3,687,000 after purchasing an additional 1,116 shares in the last quarter. Finally, New Millennium Group LLC boosted its holdings in PulteGroup by 10,625.8% during the third quarter. New Millennium Group LLC now owns 9,546 shares of the construction company’s stock worth $1,370,000 after purchasing an additional 9,457 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Stock Performance

NYSE PHM opened at $129.76 on Monday. The stock has a market cap of $26.61 billion, a PE ratio of 9.57, a P/E/G ratio of 0.52 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. The firm has a 50-day moving average of $136.74 and a 200-day moving average of $125.90. PulteGroup, Inc. has a 52-week low of $86.59 and a 52-week 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. The company had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.27 billion. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The business’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.90 earnings per share. On average, sell-side analysts anticipate that PulteGroup, Inc. will post 12.94 EPS for the current year.

PulteGroup Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th will be given a dividend of $0.22 per share. This is a boost from PulteGroup’s previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, December 17th. This represents a $0.88 annualized dividend and a yield of 0.68%. PulteGroup’s dividend payout ratio (DPR) is presently 5.90%.

Wall Street Analysts Forecast Growth

PHM has been the topic of several recent research reports. Evercore ISI lowered their price target on shares of PulteGroup from $198.00 to $195.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Wolfe Research lowered PulteGroup from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Wedbush restated a “neutral” rating and issued a $115.00 price target on shares of PulteGroup in a research note on Tuesday, October 22nd. UBS Group boosted their price target on PulteGroup from $148.00 to $154.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Finally, BTIG Research increased their price objective on PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $145.00.

Insider Transactions at PulteGroup

In related news, 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 transaction, the director now directly owns 45,230 shares in the company, valued at approximately $5,931,462.20. This represents a 29.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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.