Cadence Capital Management LLC Invests $301,000 in PulteGroup, Inc. (PHM)

Cadence Capital Management LLC acquired a new stake in PulteGroup, Inc. (NYSE:PHM) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,018 shares of the construction company’s stock, valued at approximately $301,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Janney Montgomery Scott LLC acquired a new position in shares of PulteGroup in the second quarter valued at about $509,000. IFP Advisors Inc grew its stake in shares of PulteGroup by 72.2% in the second quarter. IFP Advisors Inc now owns 10,264 shares of the construction company’s stock valued at $252,000 after acquiring an additional 4,305 shares in the last quarter. HL Financial Services LLC grew its stake in shares of PulteGroup by 1.5% in the second quarter. HL Financial Services LLC now owns 179,845 shares of the construction company’s stock valued at $4,412,000 after acquiring an additional 2,679 shares in the last quarter. Pioneer Investment Management Inc. grew its stake in shares of PulteGroup by 9.6% in the second quarter. Pioneer Investment Management Inc. now owns 1,085,329 shares of the construction company’s stock valued at $26,623,000 after acquiring an additional 95,093 shares in the last quarter. Finally, Morse Asset Management Inc grew its stake in shares of PulteGroup by 23.8% in the second quarter. Morse Asset Management Inc now owns 108,150 shares of the construction company’s stock valued at $2,653,000 after acquiring an additional 20,825 shares in the last quarter. 84.80% of the stock is currently owned by institutional investors.

In other PulteGroup news, insider James R. Ellinghausen sold 136,912 shares of the stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $29.70, for a total transaction of $4,066,286.40. Following the sale, the insider now directly owns 294,369 shares in the company, valued at $8,742,759.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider James R. Ellinghausen sold 67,490 shares of the stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $32.35, for a total transaction of $2,183,301.50. The disclosure for this sale can be found here. Corporate insiders own 0.71% of the company’s stock.

Shares of PulteGroup, Inc. (NYSE:PHM) traded down $0.39 during trading on Thursday, reaching $33.10. 4,990,100 shares of the company’s stock were exchanged, compared to its average volume of 5,086,797. The firm has a market capitalization of $9,844.98, a P/E ratio of 16.34, a price-to-earnings-growth ratio of 0.89 and a beta of 1.21. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.25 and a quick ratio of 0.25. PulteGroup, Inc. has a 12-month low of $18.18 and a 12-month high of $34.60.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, October 24th. The construction company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.01. The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.30 billion. PulteGroup had a net margin of 7.77% and a return on equity of 14.38%. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.43 earnings per share. research analysts forecast that PulteGroup, Inc. will post 2.2 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Tuesday, December 12th will be paid a dividend of $0.09 per share. The ex-dividend date is Monday, December 11th. This represents a $0.36 dividend on an annualized basis and a yield of 1.09%. PulteGroup’s payout ratio is 17.91%.

Several equities analysts recently commented on PHM shares. Zacks Investment Research upgraded shares of PulteGroup from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research note on Tuesday, September 26th. Citigroup downgraded shares of PulteGroup from a “neutral” rating to a “sell” rating and set a $26.00 price target on the stock. in a research note on Friday, October 20th. Bank of America set a $34.00 price target on shares of PulteGroup and gave the company a “buy” rating in a research note on Wednesday, October 25th. Buckingham Research downgraded shares of PulteGroup from a “buy” rating to a “neutral” rating and upped their price target for the company from $31.00 to $33.00 in a research note on Sunday, November 26th. Finally, B. Riley restated a “buy” rating on shares of PulteGroup in a research note on Wednesday, November 1st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $29.92.

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About PulteGroup

PulteGroup, Inc is a homebuilder in the United States. The Company’s segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land.

Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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