Allstate Corp Takes $955,000 Position in PulteGroup, Inc. $PHM

Allstate Corp purchased a new position in shares of PulteGroup, Inc. (NYSE:PHM) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 7,224 shares of the construction company’s stock, valued at approximately $955,000.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in PulteGroup during the second quarter worth $404,339,000. Massachusetts Financial Services Co. MA acquired a new position in shares of PulteGroup during the 3rd quarter worth $315,883,000. First Trust Advisors LP raised its holdings in shares of PulteGroup by 27.2% during the 2nd quarter. First Trust Advisors LP now owns 3,199,906 shares of the construction company’s stock worth $337,462,000 after buying an additional 683,728 shares in the last quarter. American Century Companies Inc. lifted its position in shares of PulteGroup by 143.8% during the 2nd quarter. American Century Companies Inc. now owns 772,762 shares of the construction company’s stock worth $81,496,000 after buying an additional 455,754 shares during the last quarter. Finally, Amundi boosted its stake in PulteGroup by 38.4% in the second quarter. Amundi now owns 1,375,535 shares of the construction company’s stock valued at $153,152,000 after buying an additional 381,380 shares in the last quarter. 89.90% of the stock is owned by institutional investors.

PulteGroup Stock Up 2.3%

Shares of NYSE:PHM opened at $129.72 on Thursday. The firm has a market cap of $25.28 billion, a P/E ratio of 9.99, a P/E/G ratio of 1.04 and a beta of 1.33. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-month high of $142.11. The business has a fifty day simple moving average of $123.38 and a 200 day simple moving average of $124.09. 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 issued its quarterly earnings results on Tuesday, October 21st. The construction company reported $2.96 earnings per share 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 company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.31 billion. During the same quarter in the prior year, the firm posted $3.35 earnings per share. The business’s quarterly revenue was down 1.6% on a year-over-year basis. Analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders of record on Tuesday, December 16th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. This is a boost from PulteGroup’s previous quarterly dividend of $0.22. PulteGroup’s payout ratio is currently 8.01%.

Analyst Ratings Changes

Several research analysts have commented on PHM shares. Citizens Jmp initiated coverage on PulteGroup in a research note on Wednesday, January 7th. They set a “market outperform” rating and a $145.00 target price for the company. Barclays set a $115.00 price target on shares of PulteGroup in a report on Monday, December 8th. BTIG Research initiated coverage on shares of PulteGroup in a research note on Monday, December 1st. They issued a “neutral” rating for the company. Weiss Ratings upgraded shares of PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Finally, Wells Fargo & Company upped their price target on shares of PulteGroup from $132.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. Nine analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $138.85.

PulteGroup Company Profile

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.