Channel Wealth LLC Grows Position in PulteGroup, Inc. $PHM

Channel Wealth LLC grew its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 44.8% in the third quarter, HoldingsChannel.com reports. The fund owned 30,838 shares of the construction company’s stock after purchasing an additional 9,538 shares during the period. Channel Wealth LLC’s holdings in PulteGroup were worth $4,075,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Railway Pension Investments Ltd grew its stake in PulteGroup by 2.4% in the 2nd quarter. Railway Pension Investments Ltd now owns 137,739 shares of the construction company’s stock worth $14,526,000 after buying an additional 3,200 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of PulteGroup during the 2nd quarter worth $2,162,000. Inspire Investing LLC lifted its holdings in shares of PulteGroup by 143.7% during the 1st quarter. Inspire Investing LLC now owns 24,059 shares of the construction company’s stock worth $2,473,000 after acquiring an additional 14,185 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in PulteGroup by 4.1% in the second quarter. Nomura Asset Management Co. Ltd. now owns 100,293 shares of the construction company’s stock worth $10,577,000 after acquiring an additional 3,923 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in PulteGroup by 0.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,385,531 shares of the construction company’s stock valued at $146,118,000 after acquiring an additional 11,203 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PHM has been the subject of several research analyst reports. Barclays set a $115.00 price target on PulteGroup in a research note on Monday, December 8th. Wedbush restated an “outperform” rating and issued a $150.00 target price on shares of PulteGroup in a research report on Tuesday, October 21st. Zacks Research raised PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Friday, August 29th. Bank of America decreased their price target on shares of PulteGroup from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, October 10th. Finally, Wells Fargo & Company upped their price objective on shares of PulteGroup from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $137.25.

PulteGroup Stock Down 1.3%

Shares of PulteGroup stock opened at $122.78 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.81 and a current ratio of 0.81. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $142.11. The company’s 50 day moving average price is $122.10 and its 200-day moving average price is $120.58. The stock has a market capitalization of $23.93 billion, a price-to-earnings ratio of 9.45, a P/E/G ratio of 1.00 and a beta of 1.31.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, October 21st. The construction company reported $2.96 EPS for the quarter, beating analysts’ consensus estimates of $2.86 by $0.10. The company had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.31 billion. PulteGroup had a net margin of 14.93% and a return on equity of 19.58%. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business posted $3.35 EPS. Equities research analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Tuesday, December 16th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, December 16th. This is a boost from PulteGroup’s previous quarterly dividend of $0.22. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. PulteGroup’s payout ratio is 8.01%.

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.