Midwest Trust Co Invests $375,000 in PulteGroup, Inc. $PHM

Midwest Trust Co bought a new position in PulteGroup, Inc. (NYSE:PHM) in the 2nd quarter, Holdings Channel.com reports. The firm bought 3,560 shares of the construction company’s stock, valued at approximately $375,000.

Other large investors have also added to or reduced their stakes in the company. WPG Advisers LLC purchased a new position in shares of PulteGroup in the 1st quarter worth about $25,000. Hager Investment Management Services LLC raised its holdings in shares of PulteGroup by 33.3% during the 2nd quarter. Hager Investment Management Services LLC now owns 420 shares of the construction company’s stock valued at $44,000 after buying an additional 105 shares in the last quarter. REAP Financial Group LLC lifted its position in PulteGroup by 188.1% in the 2nd quarter. REAP Financial Group LLC now owns 533 shares of the construction company’s stock worth $56,000 after buying an additional 348 shares during the last quarter. Quarry LP boosted its stake in PulteGroup by 43.8% in the first quarter. Quarry LP now owns 571 shares of the construction company’s stock worth $59,000 after buying an additional 174 shares in the last quarter. Finally, Pandora Wealth Inc. bought a new position in PulteGroup during the first quarter valued at approximately $97,000. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Analysts Set New Price Targets

PHM has been the subject of a number of recent research reports. Evercore ISI lowered their price objective on shares of PulteGroup from $154.00 to $134.00 and set an “in-line” rating for the company in a report on Wednesday, October 22nd. Citigroup boosted their price target on shares of PulteGroup from $132.00 to $143.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 1st. Seaport Res Ptn raised PulteGroup from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 22nd. JPMorgan Chase & Co. lifted their price objective on PulteGroup from $121.00 to $123.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Finally, Weiss Ratings cut PulteGroup from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, November 7th. One 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 stock. Based on data from MarketBeat, PulteGroup presently has a consensus rating of “Moderate Buy” and an average target price of $133.67.

PulteGroup Price Performance

Shares of NYSE PHM opened at $120.72 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.81 and a quick ratio of 0.81. PulteGroup, Inc. has a 1 year low of $88.07 and a 1 year high of $142.11. The company’s 50-day moving average is $127.50 and its 200 day moving average is $116.80. The stock has a market capitalization of $23.53 billion, a P/E ratio of 9.29, a P/E/G ratio of 0.95 and a beta of 1.25.

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

PulteGroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 16th were issued a $0.22 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $0.88 dividend on an annualized basis and a yield of 0.7%. PulteGroup’s dividend payout ratio is 6.77%.

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.