Brendel Financial Advisors LLC Makes New $2.41 Million Investment in PulteGroup, Inc. $PHM

Brendel Financial Advisors LLC bought a new stake in PulteGroup, Inc. (NYSE:PHM) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 18,211 shares of the construction company’s stock, valued at approximately $2,406,000.

Other institutional investors have also modified their holdings of the company. Railway Pension Investments Ltd boosted its position in PulteGroup by 2.4% during the 2nd quarter. Railway Pension Investments Ltd now owns 137,739 shares of the construction company’s stock worth $14,526,000 after acquiring an additional 3,200 shares during the period. International Assets Investment Management LLC bought a new position in shares of PulteGroup in the second quarter valued at approximately $2,162,000. Inspire Investing LLC increased its stake in shares of PulteGroup by 143.7% during the first quarter. Inspire Investing LLC now owns 24,059 shares of the construction company’s stock valued at $2,473,000 after acquiring an additional 14,185 shares during the period. Osaic Holdings Inc. raised its holdings in PulteGroup by 129.5% during the second quarter. Osaic Holdings Inc. now owns 151,766 shares of the construction company’s stock worth $15,778,000 after purchasing an additional 85,637 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in PulteGroup by 0.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,385,531 shares of the construction company’s stock worth $146,118,000 after purchasing an additional 11,203 shares in the last quarter. Institutional investors own 89.90% of the company’s stock.

PulteGroup Trading Down 0.5%

NYSE:PHM opened at $118.11 on Wednesday. The stock has a fifty day simple moving average of $121.44 and a 200 day simple moving average of $121.83. The firm has a market capitalization of $23.02 billion, a price-to-earnings ratio of 9.09, a price-to-earnings-growth ratio of 0.95 and a beta of 1.31. PulteGroup, Inc. has a 1-year low of $88.07 and a 1-year high of $142.11. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.13.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Tuesday, October 21st. The construction company reported $2.96 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.31 billion. During the same quarter in the previous year, the company earned $3.35 EPS. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. Sell-side analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 16th will be issued a dividend of $0.26 per share. This is an increase from PulteGroup’s previous quarterly dividend of $0.22. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Tuesday, December 16th. PulteGroup’s dividend payout ratio (DPR) is presently 8.01%.

Analysts Set New Price Targets

A number of brokerages have issued reports on PHM. Evercore ISI decreased their price target on PulteGroup from $154.00 to $134.00 and set an “in-line” rating for the company in a research note on Wednesday, October 22nd. Citigroup raised their target price on PulteGroup from $132.00 to $143.00 and gave the company a “neutral” rating in a research note on Wednesday, October 1st. Wells Fargo & Company boosted their price target 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. JPMorgan Chase & Co. upped their price target on shares of PulteGroup from $136.00 to $149.00 and gave the company an “overweight” rating in a report on Thursday, December 4th. Finally, BTIG Research assumed coverage on shares of PulteGroup in a research report on Monday, December 1st. They set a “neutral” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, PulteGroup presently has a consensus rating of “Moderate Buy” and an average target price of $137.25.

About PulteGroup

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.