Pinnacle Wealth Management Advisory Group LLC Acquires 1,016 Shares of PulteGroup, Inc. $PHM

Pinnacle Wealth Management Advisory Group LLC raised its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 9.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,672 shares of the construction company’s stock after acquiring an additional 1,016 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in PulteGroup were worth $1,231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Nuveen LLC purchased a new position in PulteGroup during the first quarter valued at $213,092,000. Pacer Advisors Inc. raised its stake in shares of PulteGroup by 2,586.8% in the first quarter. Pacer Advisors Inc. now owns 1,166,902 shares of the construction company’s stock worth $119,958,000 after buying an additional 1,123,471 shares during the period. JPMorgan Chase & Co. lifted its position in shares of PulteGroup by 40.3% during the 1st quarter. JPMorgan Chase & Co. now owns 3,486,330 shares of the construction company’s stock valued at $358,395,000 after buying an additional 1,001,290 shares in the last quarter. AustralianSuper Pty Ltd grew its stake in shares of PulteGroup by 219.2% during the 1st quarter. AustralianSuper Pty Ltd now owns 1,039,107 shares of the construction company’s stock valued at $106,820,000 after acquiring an additional 713,534 shares during the period. Finally, Alyeska Investment Group L.P. bought a new position in shares of PulteGroup during the 1st quarter valued at approximately $53,262,000. Institutional investors own 89.90% of the company’s stock.

PulteGroup Trading Up 0.5%

Shares of PHM opened at $119.52 on Monday. The company’s fifty day moving average is $128.22 and its 200 day moving average is $116.51. PulteGroup, Inc. has a fifty-two week low of $88.07 and a fifty-two week high of $142.11. The stock has a market capitalization of $23.30 billion, a PE ratio of 9.20, a P/E/G ratio of 0.95 and a beta of 1.25. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.81 and a current ratio of 0.81.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, October 21st. The construction company reported $2.96 EPS for the quarter, beating the consensus estimate of $2.86 by $0.10. PulteGroup had a net margin of 14.93% and a return on equity of 19.58%. The business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same quarter last year, the business earned $3.35 earnings per share. PulteGroup’s quarterly revenue was down 1.6% compared to the same quarter last year. Sell-side analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Tuesday, September 16th were given a $0.22 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $0.88 annualized dividend and a yield of 0.7%. PulteGroup’s dividend payout ratio (DPR) is currently 6.77%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PHM shares. Wedbush reaffirmed an “outperform” rating and set a $150.00 price target on shares of PulteGroup in a report on Tuesday, October 21st. Zacks Research upgraded shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Friday, August 29th. JPMorgan Chase & Co. upped their target price on shares of PulteGroup from $121.00 to $123.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Citigroup increased their price target on PulteGroup from $132.00 to $143.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 1st. Finally, Bank of America lowered their price objective on PulteGroup from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, PulteGroup has a consensus rating of “Moderate Buy” and a consensus price target of $133.67.

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.