Algert Global LLC Has $521,000 Stock Position in PulteGroup, Inc. (NYSE:PHM)

Algert Global LLC increased its position in shares of PulteGroup, Inc. (NYSE:PHM) by 19.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 3,633 shares of the construction company’s stock after purchasing an additional 596 shares during the quarter. Algert Global LLC’s holdings in PulteGroup were worth $521,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Greenhaven Associates Inc. raised its holdings in PulteGroup by 0.3% during the 3rd quarter. Greenhaven Associates Inc. now owns 5,593,179 shares of the construction company’s stock worth $802,789,000 after purchasing an additional 16,871 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of PulteGroup by 8.6% during the second quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock worth $326,864,000 after buying an additional 235,826 shares during the last quarter. Hsbc Holdings PLC raised its stake in shares of PulteGroup by 19.6% during the second quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock worth $168,254,000 after buying an additional 250,937 shares during the last quarter. Victory Capital Management Inc. boosted its stake in PulteGroup by 6.3% in the third quarter. Victory Capital Management Inc. now owns 1,025,276 shares of the construction company’s stock valued at $147,158,000 after acquiring an additional 60,854 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in PulteGroup by 35.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 861,487 shares of the construction company’s stock worth $123,649,000 after acquiring an additional 223,841 shares during the period. Institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Performance

PHM opened at $135.27 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market capitalization of $27.74 billion, a price-to-earnings ratio of 9.98, a P/E/G ratio of 0.56 and a beta of 1.63. The business’s 50-day moving average price is $136.20 and its two-hundred day moving average price is $126.52. PulteGroup, Inc. has a 1 year low of $86.59 and a 1 year high of $149.47.

PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, beating the consensus estimate of $3.10 by $0.25. The firm had revenue of $4.48 billion for 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 quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.90 EPS. Equities analysts expect that PulteGroup, Inc. will post 12.94 EPS for the current fiscal year.

PulteGroup Increases Dividend

The firm also recently announced 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 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 0.65%. PulteGroup’s dividend payout ratio is presently 5.90%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PHM. Wolfe Research downgraded PulteGroup from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. UBS Group increased their target price on PulteGroup from $148.00 to $154.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Wedbush restated a “neutral” rating and set a $115.00 target price on shares of PulteGroup in a research report on Tuesday, October 22nd. Oppenheimer cut their price target on shares of PulteGroup from $168.00 to $165.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Finally, Evercore ISI decreased their price objective 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. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $145.00.

PulteGroup 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.