Axxcess Wealth Management LLC Acquires 1,540 Shares of PulteGroup, Inc. $PHM

Axxcess Wealth Management LLC grew its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 28.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,986 shares of the construction company’s stock after buying an additional 1,540 shares during the quarter. Axxcess Wealth Management LLC’s holdings in PulteGroup were worth $737,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PHM. JPMorgan Chase & Co. raised its stake 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 worth $358,395,000 after purchasing an additional 1,001,290 shares in the last quarter. Ameriprise Financial Inc. raised its position in PulteGroup by 11.8% during the first 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 stake in PulteGroup during the first quarter worth $213,092,000. Price T Rowe Associates Inc. MD raised its position in PulteGroup by 21.2% during the first 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. raised its holdings in shares of PulteGroup by 25.6% in the 1st quarter. Victory Capital Management Inc. now owns 1,397,409 shares of the construction company’s stock valued at $143,654,000 after purchasing an additional 284,627 shares during the period. 89.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PHM. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PulteGroup in a report on Wednesday, October 8th. Bank of America dropped their price objective on PulteGroup from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, October 10th. Wedbush restated an “outperform” rating and issued a $150.00 price target on shares of PulteGroup in a research note on Wednesday, August 13th. UBS Group increased their price target on PulteGroup from $141.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada increased their price objective on shares of PulteGroup from $109.00 to $112.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $136.92.

PulteGroup Stock Up 0.3%

PHM stock opened at $124.29 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a market capitalization of $24.52 billion, a price-to-earnings ratio of 9.29, a PEG ratio of 0.36 and a beta of 1.29. The business’s fifty day moving average price is $130.81 and its two-hundred day moving average price is $113.62. PulteGroup, Inc. has a fifty-two week low of $88.07 and a fifty-two week high of $149.47.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.03 earnings per share 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 firm had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.42 billion. During the same quarter last year, the business earned $3.83 EPS. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. On average, equities analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Announces Dividend

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

PulteGroup Company 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.