Barden Capital Management Inc. Purchases New Stake in PulteGroup, Inc. (NYSE:PHM)

Barden Capital Management Inc. acquired a new position in shares of PulteGroup, Inc. (NYSE:PHM) in the third quarter, HoldingsChannel.com reports. The firm acquired 8,127 shares of the construction company’s stock, valued at approximately $1,166,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. WR Wealth Planners LLC boosted its holdings in shares of PulteGroup by 54.7% during the 2nd quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock worth $26,000 after buying an additional 82 shares during the period. LRI Investments LLC acquired a new stake in PulteGroup during the first quarter worth approximately $28,000. Rothschild Investment LLC bought a new stake in shares of PulteGroup during the second quarter worth approximately $31,000. Candriam S.C.A. acquired a new position in shares of PulteGroup in the second quarter valued at approximately $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of PulteGroup by 1,059.3% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 313 shares of the construction company’s stock worth $45,000 after purchasing an additional 286 shares during the period. 89.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PHM has been the topic of a number of research reports. Bank of America upped their price objective on PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Wolfe Research downgraded shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. Evercore ISI lifted their price objective on shares of PulteGroup from $183.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Citigroup cut their price objective on shares of PulteGroup from $129.00 to $117.00 and set a “neutral” rating for the company in a report on Tuesday, July 2nd. Finally, Royal Bank of Canada raised their target price on shares of PulteGroup from $113.00 to $120.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $141.14.

PulteGroup Stock Performance

PulteGroup stock opened at $149.04 on Monday. The business has a 50 day moving average of $135.79 and a 200-day moving average of $122.54. 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, Inc. has a 1 year low of $68.80 and a 1 year high of $149.32. The company has a market capitalization of $30.93 billion, a P/E ratio of 11.37, a P/E/G ratio of 0.58 and a beta of 1.62.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, July 23rd. The construction company reported $3.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.56. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. The firm had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.49 billion. During the same quarter last year, the firm earned $3.00 earnings per share. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, equities research analysts predict that PulteGroup, Inc. will post 12.9 earnings per share for the current year.

PulteGroup Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Tuesday, September 17th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Tuesday, September 17th. PulteGroup’s dividend payout ratio is currently 6.10%.

Insider Activity at PulteGroup

In other news, CFO Robert Oshaughnessy sold 28,993 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $129.29, for a total value of $3,748,504.97. Following the sale, the chief financial officer now directly owns 160,330 shares of the company’s stock, valued at approximately $20,729,065.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other PulteGroup news, CFO Robert Oshaughnessy sold 28,993 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $129.29, for a total value of $3,748,504.97. Following the transaction, the chief financial officer now directly owns 160,330 shares of the company’s stock, valued at approximately $20,729,065.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas J. Folliard sold 19,000 shares of the firm’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 sale, 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. Insiders have sold 119,000 shares of company stock worth $15,814,039 over the last ninety days. Insiders own 0.75% of the company’s stock.

PulteGroup 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.