PulteGroup, Inc. (NYSE:PHM) Shares Bought by Eastern Bank

Eastern Bank increased its position in shares of PulteGroup, Inc. (NYSE:PHM) by 1.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 136,497 shares of the construction company’s stock after acquiring an additional 1,551 shares during the quarter. Eastern Bank’s holdings in PulteGroup were worth $19,591,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of PHM. Grove Bank & Trust boosted its holdings in PulteGroup by 18.4% in the third quarter. Grove Bank & Trust now owns 463 shares of the construction company’s stock valued at $66,000 after purchasing an additional 72 shares in the last quarter. WR Wealth Planners LLC boosted its holdings in PulteGroup by 54.7% in the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock valued at $26,000 after purchasing an additional 82 shares in the last quarter. Lebenthal Global Advisors LLC boosted its holdings in PulteGroup by 3.9% in the second quarter. Lebenthal Global Advisors LLC now owns 2,329 shares of the construction company’s stock valued at $256,000 after purchasing an additional 87 shares in the last quarter. Tocqueville Asset Management L.P. boosted its holdings in PulteGroup by 2.0% in the first quarter. Tocqueville Asset Management L.P. now owns 5,092 shares of the construction company’s stock valued at $614,000 after purchasing an additional 101 shares in the last quarter. Finally, Patten Group Inc. boosted its holdings in PulteGroup by 2.9% in the second quarter. Patten Group Inc. now owns 3,805 shares of the construction company’s stock valued at $419,000 after purchasing an additional 109 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PHM. BTIG Research increased their price objective on PulteGroup from $133.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Raymond James increased their price objective on PulteGroup from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. increased their price objective on PulteGroup from $141.00 to $152.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Wedbush reissued a “neutral” rating and issued a $115.00 price objective on shares of PulteGroup in a report on Tuesday. Finally, Citigroup decreased their price objective on PulteGroup from $129.00 to $117.00 and set a “neutral” rating for the company in a report on Tuesday, July 2nd. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $141.14.

Insider Transactions at PulteGroup

In other news, Director Thomas J. Folliard sold 19,000 shares of PulteGroup stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total transaction of $2,491,660.00. Following the completion of the transaction, the director now owns 45,230 shares of the company’s stock, valued at $5,931,462.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Robert Oshaughnessy sold 71,007 shares of PulteGroup stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $134.83, for a total transaction of $9,573,873.81. Following the completion of the sale, the chief financial officer now owns 89,323 shares in the company, valued at approximately $12,043,420.09. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Thomas J. Folliard sold 19,000 shares of PulteGroup stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total value of $2,491,660.00. Following the sale, the director now owns 45,230 shares of the company’s stock, valued at approximately $5,931,462.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 119,000 shares of company stock valued at $15,814,039 in the last 90 days. 0.83% of the stock is currently owned by insiders.

PulteGroup Price Performance

NYSE:PHM traded down $7.91 during trading hours on Tuesday, hitting $136.35. The company’s stock had a trading volume of 2,003,104 shares, compared to its average volume of 1,825,771. The business’s 50-day moving average is $136.24 and its two-hundred day moving average is $122.75. The company has a market capitalization of $28.30 billion, a PE ratio of 10.38, a PEG ratio of 0.61 and a beta of 1.62. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.76 and a current ratio of 0.76. PulteGroup, Inc. has a 52-week low of $68.80 and a 52-week high of $149.47.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, July 23rd. The construction company reported $3.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.56. The firm had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.49 billion. PulteGroup had a return on equity of 25.67% and a net margin of 16.75%. PulteGroup’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.00 earnings per share. As a group, research analysts anticipate that PulteGroup, Inc. will post 12.9 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 17th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Tuesday, September 17th. PulteGroup’s dividend payout ratio (DPR) is presently 6.10%.

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.