PulteGroup, Inc. $PHM Shares Bought by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC grew its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 21.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 3,509 shares of the construction company’s stock after acquiring an additional 625 shares during the period. Sagespring Wealth Partners LLC’s holdings in PulteGroup were worth $370,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in PHM. Reyes Financial Architecture Inc. lifted its stake in shares of PulteGroup by 42.1% in the first quarter. Reyes Financial Architecture Inc. now owns 770 shares of the construction company’s stock valued at $79,000 after purchasing an additional 228 shares during the period. Xponance Inc. grew its position in PulteGroup by 38.6% during the first quarter. Xponance Inc. now owns 38,993 shares of the construction company’s stock worth $4,008,000 after buying an additional 10,867 shares during the period. Florida Financial Advisors LLC increased its holdings in PulteGroup by 30.5% in the first quarter. Florida Financial Advisors LLC now owns 4,832 shares of the construction company’s stock valued at $496,000 after buying an additional 1,129 shares in the last quarter. Edgestream Partners L.P. lifted its position in shares of PulteGroup by 2,687.0% during the 1st quarter. Edgestream Partners L.P. now owns 77,310 shares of the construction company’s stock valued at $7,947,000 after acquiring an additional 74,536 shares during the period. Finally, Golden State Wealth Management LLC boosted its stake in shares of PulteGroup by 15.9% during the 1st quarter. Golden State Wealth Management LLC now owns 909 shares of the construction company’s stock worth $93,000 after acquiring an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Performance

NYSE PHM opened at $124.29 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 fifty-two week low of $88.07 and a fifty-two week high of $149.47. The business has a fifty day moving average of $130.81 and a 200-day moving average of $113.62. The stock has a market cap of $24.52 billion, a price-to-earnings ratio of 9.29, a price-to-earnings-growth ratio of 0.36 and a beta of 1.29.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.03 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $4.42 billion. During the same quarter last year, the business posted $3.83 EPS. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. As a group, analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 16th were issued a dividend of $0.22 per share. 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 dividend payout ratio is presently 6.58%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wedbush reaffirmed an “outperform” rating and set a $150.00 price objective on shares of PulteGroup in a report on Wednesday, August 13th. Wells Fargo & Company lifted their price target on PulteGroup from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 2nd. Zacks Research raised shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Friday, August 29th. UBS Group raised their target price on shares of PulteGroup from $141.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Finally, Royal Bank Of Canada upped their price target on shares of PulteGroup from $109.00 to $112.00 and gave the company a “sector perform” rating in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.