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

Drucker Wealth 3.0 LLC acquired a new position in shares of PulteGroup, Inc. (NYSE:PHM) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,555 shares of the construction company’s stock, valued at approximately $746,000.

Other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in shares of PulteGroup by 40.3% in the first quarter. JPMorgan Chase & Co. now owns 3,486,330 shares of the construction company’s stock valued at $358,395,000 after acquiring an additional 1,001,290 shares during the period. Ameriprise Financial Inc. boosted its holdings in PulteGroup by 11.8% in the 1st quarter. Ameriprise Financial Inc. now owns 2,570,022 shares of the construction company’s stock valued at $264,216,000 after purchasing an additional 271,917 shares during the period. Nuveen LLC bought a new stake in PulteGroup in the 1st quarter valued at about $213,092,000. Price T Rowe Associates Inc. MD boosted its holdings in PulteGroup by 21.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,579,792 shares of the construction company’s stock valued at $162,403,000 after purchasing an additional 276,077 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in 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 currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on PHM. Wells Fargo & Company boosted their price target on PulteGroup from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Tuesday, September 2nd. Oppenheimer upped their target price on PulteGroup from $132.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada upped their target price on PulteGroup from $109.00 to $112.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 23rd. UBS Group upped their price objective on shares of PulteGroup from $141.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, July 23rd. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $140.00 price objective (up previously from $115.00) on shares of PulteGroup in a research report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $136.92.

PulteGroup Price Performance

Shares of PHM stock opened at $119.92 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month high of $149.47. The company has a market cap of $23.66 billion, a P/E ratio of 8.96, a P/E/G ratio of 0.36 and a beta of 1.29. The business has a fifty day simple moving average of $130.52 and a 200 day simple moving average of $112.93.

PulteGroup (NYSE:PHM) last announced 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. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.42 billion. PulteGroup had a return on equity of 21.01% and a net margin of 15.50%.PulteGroup’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the prior year, the company earned $3.83 EPS. On average, sell-side analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Announces Dividend

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

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.