Channel Wealth LLC Has $4.08 Million Stock Holdings in PulteGroup, Inc. $PHM

Channel Wealth LLC grew its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 44.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,838 shares of the construction company’s stock after buying an additional 9,538 shares during the quarter. Channel Wealth LLC’s holdings in PulteGroup were worth $4,075,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PHM. WPG Advisers LLC bought a new position in PulteGroup in the 1st quarter valued at about $25,000. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of PulteGroup in the second quarter worth approximately $32,000. Rexford Capital Inc. bought a new position in shares of PulteGroup in the second quarter valued at approximately $35,000. Hager Investment Management Services LLC boosted its position in shares of PulteGroup by 33.3% during the second quarter. Hager Investment Management Services LLC now owns 420 shares of the construction company’s stock valued at $44,000 after buying an additional 105 shares during the last quarter. Finally, REAP Financial Group LLC grew its holdings in PulteGroup by 188.1% during the second quarter. REAP Financial Group LLC now owns 533 shares of the construction company’s stock worth $56,000 after buying an additional 348 shares in the last quarter. 89.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PHM shares. Wedbush restated an “outperform” rating and set a $150.00 price objective on shares of PulteGroup in a research note on Tuesday, October 21st. Citigroup boosted 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. Wells Fargo & Company upped their price objective on shares of PulteGroup from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 2nd. 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 report on Wednesday, October 22nd. Finally, Bank of America reduced their target price on PulteGroup from $145.00 to $140.00 and set a “buy” rating for the company in a report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $137.25.

PulteGroup Price Performance

Shares of NYSE PHM opened at $122.78 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.13. The stock has a fifty day simple moving average of $122.10 and a two-hundred day simple moving average of $120.58. PulteGroup, Inc. has a 1-year low of $88.07 and a 1-year high of $142.11. The firm has a market cap of $23.93 billion, a price-to-earnings ratio of 9.45, a price-to-earnings-growth ratio of 1.00 and a beta of 1.31.

PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Tuesday, October 21st. The construction company reported $2.96 EPS for the quarter, beating analysts’ consensus estimates of $2.86 by $0.10. The firm had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.31 billion. PulteGroup had a return on equity of 19.58% and a net margin of 14.93%.The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.35 EPS. Analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Tuesday, December 16th will be issued a dividend of $0.26 per share. This is a positive change from PulteGroup’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. PulteGroup’s payout ratio is currently 8.01%.

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.