PulteGroup, Inc. (NYSE:PHM) Shares Bought by Coldstream Capital Management Inc.

Coldstream Capital Management Inc. raised its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 13.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,916 shares of the construction company’s stock after acquiring an additional 592 shares during the period. Coldstream Capital Management Inc.’s holdings in PulteGroup were worth $697,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PHM. FMR LLC boosted its holdings in PulteGroup by 102.3% during the 3rd quarter. FMR LLC now owns 9,040,828 shares of the construction company’s stock valued at $1,297,630,000 after acquiring an additional 4,571,757 shares during the period. Greenhaven Associates Inc. lifted its position in shares of PulteGroup by 0.3% during the third quarter. Greenhaven Associates Inc. now owns 5,593,179 shares of the construction company’s stock worth $802,789,000 after purchasing an additional 16,871 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of PulteGroup by 8.6% in the second quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock valued at $326,864,000 after purchasing an additional 235,826 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of PulteGroup by 7.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,864,040 shares of the construction company’s stock valued at $267,546,000 after purchasing an additional 135,391 shares in the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of PulteGroup by 19.6% during the second quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock worth $168,254,000 after acquiring an additional 250,937 shares during the period. 89.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PHM has been the subject of several analyst reports. UBS Group boosted their target price on PulteGroup from $148.00 to $154.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. BTIG Research upped their target price on shares of PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Barclays restated an “equal weight” rating and issued a $140.00 price objective (down from $150.00) on shares of PulteGroup in a report on Wednesday. Evercore ISI lowered their target price on shares of PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Finally, Wedbush restated a “neutral” rating and issued a $115.00 price target on shares of PulteGroup in a research note on Tuesday, October 22nd. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $144.50.

PulteGroup Stock Performance

Shares of PHM opened at $118.44 on Friday. The company’s 50 day simple moving average is $133.50 and its 200-day simple moving average is $127.11. The firm has a market cap of $24.29 billion, a PE ratio of 8.73, a price-to-earnings-growth ratio of 0.50 and a beta of 1.62. PulteGroup, Inc. has a 12-month low of $99.03 and a 12-month high of $149.47. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.14.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.25. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The company had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.27 billion. During the same period last year, the firm posted $2.90 EPS. PulteGroup’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, equities analysts predict that PulteGroup, Inc. will post 12.94 EPS for the current year.

PulteGroup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th will be paid a dividend of $0.22 per share. The ex-dividend date is Tuesday, December 17th. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 0.74%. PulteGroup’s dividend payout ratio is currently 6.49%.

PulteGroup Company Profile

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.