Jackson Wealth Management LLC Buys Shares of 8,355 PulteGroup, Inc. (NYSE:PHM)

24 Oct 2024, 11:38 by Renee Jackson · The Cerbat Gem

Jackson Wealth Management LLC bought a new stake in PulteGroup, Inc. (NYSE:PHM – Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 8,355 shares of the construction company’s stock, valued at approximately $1,199,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Grove Bank & Trust raised its holdings in shares of PulteGroup by 18.4% in the 3rd quarter. Grove Bank & Trust now owns 463 shares of the construction company’s stock valued at $66,000 after buying an additional 72 shares during the period. WR Wealth Planners LLC lifted its holdings in shares of PulteGroup by 54.7% in the 2nd 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 during the last quarter. Lebenthal Global Advisors LLC lifted its holdings in shares of PulteGroup by 3.9% in the 2nd 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 during the last quarter. Tocqueville Asset Management L.P. lifted its holdings in shares of PulteGroup by 2.0% in the 1st 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 during the last quarter. Finally, Patten Group Inc. raised its stake in shares of PulteGroup by 2.9% during the 2nd quarter. Patten Group Inc. now owns 3,805 shares of the construction company’s stock worth $419,000 after buying an additional 109 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Analyst Ratings Changes

PHM has been the topic of a number of analyst reports. Bank of America increased their target price on PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Evercore ISI cut their target price on PulteGroup from $198.00 to $195.00 and set an “outperform” rating on the stock in a research report on Wednesday. Raymond James raised their target price on PulteGroup from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. UBS Group upped their price objective on PulteGroup from $148.00 to $154.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Citigroup decreased their price target on PulteGroup from $129.00 to $117.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $145.00.

Get Our Latest Stock Analysis on PHM

Insider Buying and Selling at PulteGroup

In other news, Director Thomas J. Folliard sold 19,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 45,230 shares of the company’s stock, valued at approximately $5,931,462.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Robert Oshaughnessy sold 71,007 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $134.83, for a total value of $9,573,873.81. Following the completion of the transaction, the chief financial officer now owns 89,323 shares of the company’s stock, valued at $12,043,420.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Thomas J. Folliard sold 19,000 shares of the company’s 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 completion of the transaction, the director now directly owns 45,230 shares of the company’s stock, valued at approximately $5,931,462.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 119,000 shares of company stock worth $15,814,039. 0.83% of the stock is currently owned by company insiders.

PulteGroup Stock Up 2.1 %

Shares of NYSE PHM traded up $2.77 during mid-day trading on Thursday, reaching $135.93. 276,293 shares of the company’s stock traded hands, compared to its average volume of 1,829,827. The stock has a market cap of $28.21 billion, a P/E ratio of 10.16, a PEG ratio of 0.61 and a beta of 1.62. The business has a 50-day simple moving average of $136.67 and a 200 day simple moving average of $122.95. PulteGroup, Inc. has a 1-year low of $70.21 and a 1-year high of $149.47. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.76 and a quick ratio of 0.76.

PulteGroup (NYSE:PHM – Get Free Report) last posted its earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.25. The firm had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.27 billion. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. The company’s revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the company earned $2.90 earnings per share. On average, analysts expect that PulteGroup, Inc. will post 12.9 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 17th were issued a $0.20 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.59%. PulteGroup’s payout ratio is 6.10%.

PulteGroup Profile

(Free Report)

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.