Drucker Wealth 3.0 LLC Invests $746,000 in PulteGroup, Inc. $PHM

Drucker Wealth 3.0 LLC bought a new position in shares of PulteGroup, Inc. (NYSE:PHM) in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 6,555 shares of the construction company’s stock, valued at approximately $746,000.

A number of other large investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in PulteGroup by 40.3% in 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 during the last quarter. Ameriprise Financial Inc. grew its stake in shares of PulteGroup by 11.8% during the 1st quarter. Ameriprise Financial Inc. now owns 2,570,022 shares of the construction company’s stock worth $264,216,000 after acquiring an additional 271,917 shares in the last quarter. Nuveen LLC bought a new position in shares of PulteGroup during the 1st quarter worth approximately $213,092,000. Price T Rowe Associates Inc. MD grew its stake in shares of PulteGroup by 21.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,579,792 shares of the construction company’s stock worth $162,403,000 after acquiring an additional 276,077 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of PulteGroup by 25.6% during the 1st quarter. Victory Capital Management Inc. now owns 1,397,409 shares of the construction company’s stock worth $143,654,000 after acquiring an additional 284,627 shares in the last quarter. Institutional investors own 89.90% of the company’s stock.

PulteGroup Trading Down 1.2%

PulteGroup stock opened at $119.92 on Friday. PulteGroup, Inc. has a 52 week low of $88.07 and a 52 week high of $149.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a market capitalization of $23.66 billion, a P/E ratio of 8.96, a PEG ratio of 0.36 and a beta of 1.29. The stock has a 50-day simple moving average of $130.52 and a 200 day simple moving average of $112.93.

PulteGroup (NYSE:PHM) last issued its earnings results on Tuesday, July 22nd. The construction company reported $3.03 EPS for the quarter, topping the consensus estimate of $2.92 by $0.11. PulteGroup had a return on equity of 21.01% and a net margin of 15.50%.The company had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.42 billion. During the same period in the previous year, the company posted $3.83 EPS. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. Analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 16th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 16th. PulteGroup’s payout ratio is 6.58%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PHM shares. Seaport Res Ptn raised shares of PulteGroup from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 22nd. Wedbush reaffirmed an “outperform” rating and issued a $150.00 target price on shares of PulteGroup in a research report on Wednesday, August 13th. Oppenheimer raised their price objective on PulteGroup from $132.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, July 23rd. Royal Bank Of Canada raised their price objective on PulteGroup from $109.00 to $112.00 and gave the company a “sector perform” rating in a report on Wednesday, July 23rd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of PulteGroup in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.92.

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.