Citizens Financial Group Inc. RI Invests $745,000 in PulteGroup, Inc. $PHM

Citizens Financial Group Inc. RI acquired a new stake in PulteGroup, Inc. (NYSE:PHM) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,628 shares of the construction company’s stock, valued at approximately $745,000.

A number of other institutional investors have also recently modified their holdings of the business. Twin Peaks Wealth Advisors LLC purchased a new position in PulteGroup in the second quarter worth $32,000. Rexford Capital Inc. purchased a new stake in shares of PulteGroup during the 2nd quarter worth $35,000. Private Wealth Management Group LLC grew its stake in shares of PulteGroup by 281.7% during the 3rd quarter. Private Wealth Management Group LLC now owns 271 shares of the construction company’s stock worth $36,000 after purchasing an additional 200 shares during the period. Hager Investment Management Services LLC increased its holdings in shares of PulteGroup by 33.3% in the 2nd quarter. Hager Investment Management Services LLC now owns 420 shares of the construction company’s stock valued at $44,000 after purchasing an additional 105 shares in the last quarter. Finally, True Wealth Design LLC lifted its stake in shares of PulteGroup by 229.6% in the third quarter. True Wealth Design LLC now owns 356 shares of the construction company’s stock valued at $47,000 after purchasing an additional 248 shares during the period. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PHM has been the topic of several recent analyst reports. Wells Fargo & Company upped their target price on shares of PulteGroup from $132.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday. Bank of America lowered their price target on PulteGroup from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, October 10th. Weiss Ratings raised PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. BTIG Research initiated coverage on PulteGroup in a research report on Monday, December 1st. They set a “neutral” rating on the stock. Finally, Citigroup decreased their target price on PulteGroup from $135.00 to $128.00 and set a “neutral” rating on the stock in a research report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.85.

PulteGroup Trading Down 2.1%

Shares of PulteGroup stock opened at $130.80 on Thursday. PulteGroup, Inc. has a 1 year low of $88.07 and a 1 year high of $142.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.81 and a quick ratio of 0.81. The business has a 50 day moving average price of $122.38 and a 200 day moving average price of $123.36. The company has a market capitalization of $25.49 billion, a P/E ratio of 10.07, a P/E/G ratio of 1.08 and a beta of 1.33.

PulteGroup (NYSE:PHM) last announced its 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. 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 analysts’ expectations of $4.31 billion. During the same quarter in the prior year, the firm earned $3.35 EPS. PulteGroup’s quarterly revenue was down 1.6% on a year-over-year basis. Sell-side analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Tuesday, December 16th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, December 16th. This is a positive change from PulteGroup’s previous quarterly dividend of $0.22. PulteGroup’s dividend payout ratio is presently 8.01%.

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.