Contravisory Investment Management Inc. Raises Stake in PulteGroup, Inc. (NYSE:PHM)

Contravisory Investment Management Inc. increased its holdings in PulteGroup, Inc. (NYSE:PHM) by 1.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,236 shares of the construction company’s stock after buying an additional 143 shares during the quarter. Contravisory Investment Management Inc.’s holdings in PulteGroup were worth $1,006,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PHM. Fortitude Family Office LLC boosted its holdings in PulteGroup by 115.1% in the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock valued at $27,000 after purchasing an additional 99 shares during the last quarter. Transcendent Capital Group LLC purchased a new stake in shares of PulteGroup in the third quarter worth about $29,000. JNBA Financial Advisors purchased a new stake in PulteGroup in the 3rd quarter worth approximately $43,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of PulteGroup by 1,059.3% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 313 shares of the construction company’s stock valued at $45,000 after purchasing an additional 286 shares in the last quarter. Finally, Grove Bank & Trust lifted its stake 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 purchasing an additional 72 shares during the period. 89.90% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Stock Performance

Shares of PHM stock opened at $115.77 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73. The firm has a market cap of $23.74 billion, a P/E ratio of 8.54, a P/E/G ratio of 0.43 and a beta of 1.67. The firm’s 50 day moving average price is $121.20 and its 200-day moving average price is $126.93. PulteGroup, Inc. has a one year low of $100.24 and a one year high of $149.47.

PulteGroup (NYSE:PHM) last posted its earnings results 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. The firm had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.27 billion. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. PulteGroup’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.90 EPS. As a group, equities research analysts predict that PulteGroup, Inc. will post 12.96 EPS for the current year.

PulteGroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Tuesday, December 17th. This is a boost from PulteGroup’s previous quarterly dividend of $0.20. PulteGroup’s dividend payout ratio (DPR) is currently 6.49%.

Wall Street Analyst Weigh In

PHM has been the subject of several recent analyst reports. JPMorgan Chase & Co. cut their price target on PulteGroup from $162.00 to $155.00 and set an “overweight” rating for the company in a research note on Friday, December 13th. UBS Group raised shares of PulteGroup from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $154.00 to $148.00 in a report on Wednesday, January 8th. The Goldman Sachs Group cut their price objective on PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a research note on Tuesday. Barclays reaffirmed an “equal weight” rating and issued a $140.00 price target (down previously from $150.00) on shares of PulteGroup in a report on Wednesday, December 11th. Finally, Citigroup dropped their target price on PulteGroup from $146.00 to $119.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $145.21.

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.