Pinnacle Wealth Management Advisory Group LLC Buys 1,016 Shares of PulteGroup, Inc. $PHM

Pinnacle Wealth Management Advisory Group LLC raised its position in shares of PulteGroup, Inc. (NYSE:PHM) by 9.5% during the second quarter, HoldingsChannel reports. The fund owned 11,672 shares of the construction company’s stock after acquiring an additional 1,016 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in PulteGroup were worth $1,231,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PHM. Nuveen LLC purchased a new position in shares of PulteGroup during the 1st quarter worth about $213,092,000. Pacer Advisors Inc. lifted its stake in PulteGroup by 2,586.8% in the first quarter. Pacer Advisors Inc. now owns 1,166,902 shares of the construction company’s stock worth $119,958,000 after purchasing an additional 1,123,471 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of PulteGroup by 40.3% during the first 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 period. AustralianSuper Pty Ltd boosted its position in shares of PulteGroup by 219.2% during the first quarter. AustralianSuper Pty Ltd now owns 1,039,107 shares of the construction company’s stock valued at $106,820,000 after buying an additional 713,534 shares during the period. Finally, Alyeska Investment Group L.P. bought a new position in shares of PulteGroup during the first quarter valued at approximately $53,262,000. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Analysts Set New Price Targets

PHM has been the subject of a number of research analyst reports. Royal Bank Of Canada raised their price target on PulteGroup from $109.00 to $112.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 23rd. Zacks Research upgraded PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Friday, August 29th. Citigroup upped their price target on shares of PulteGroup from $132.00 to $143.00 and gave the stock a “neutral” rating in a report on Wednesday, October 1st. Oppenheimer lifted their price objective on shares of PulteGroup from $132.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, July 23rd. Finally, Evercore ISI dropped their target price on shares of PulteGroup from $154.00 to $134.00 and set an “in-line” rating on the stock in a research note on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $133.67.

PulteGroup Trading Up 0.5%

NYSE:PHM opened at $119.52 on Monday. The firm has a market cap of $23.30 billion, a P/E ratio of 9.20, a P/E/G ratio of 0.95 and a beta of 1.25. The firm has a 50-day simple moving average of $128.22 and a 200-day simple moving average of $116.51. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.81 and a current ratio of 0.81. PulteGroup, Inc. has a one year low of $88.07 and a one year high of $142.11.

PulteGroup (NYSE:PHM) last announced its earnings results on Tuesday, October 21st. The construction company reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.86 by $0.10. PulteGroup had a return on equity of 19.58% and a net margin of 14.93%.The business had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.31 billion. During the same quarter last year, the firm earned $3.35 EPS. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. Equities analysts anticipate 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 given a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $0.88 dividend on an annualized basis and a yield of 0.7%. PulteGroup’s dividend payout ratio (DPR) is presently 6.77%.

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.