Zurcher Kantonalbank Zurich Cantonalbank Purchases 407,764 Shares of PulteGroup, Inc. (NYSE:PHM)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in PulteGroup, Inc. (NYSE:PHM) by 357.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 521,958 shares of the construction company’s stock after purchasing an additional 407,764 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in PulteGroup were worth $74,917,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. WR Wealth Planners LLC lifted its stake in shares of PulteGroup by 54.7% in the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock valued at $26,000 after buying an additional 82 shares in the last quarter. Fortitude Family Office LLC raised its holdings in shares of PulteGroup by 115.1% in the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock worth $27,000 after acquiring an additional 99 shares during the last quarter. LRI Investments LLC bought a new position in PulteGroup in the 1st quarter valued at about $28,000. Transcendent Capital Group LLC acquired a new position in PulteGroup during the 3rd quarter valued at about $29,000. Finally, Rothschild Investment LLC bought a new stake in PulteGroup during the 2nd quarter worth approximately $31,000. Institutional investors own 89.90% of the company’s stock.

PulteGroup Trading Up 0.7 %

Shares of PulteGroup stock opened at $136.53 on Thursday. The stock has a market capitalization of $28.00 billion, a P/E ratio of 10.07, a P/E/G ratio of 0.56 and a beta of 1.63. PulteGroup, Inc. has a 52-week low of $86.59 and a 52-week high of $149.47. 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 stock’s 50-day simple moving average is $136.51 and its 200 day simple moving average is $126.25.

PulteGroup (NYSE:PHM) last issued its earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.10 by $0.25. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The business had revenue of $4.48 billion for the quarter, compared to analysts’ expectations of $4.27 billion. During the same quarter in the previous year, the firm posted $2.90 EPS. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, research analysts anticipate 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. Investors of record on Tuesday, December 17th will be issued a dividend of $0.22 per share. This is a boost from PulteGroup’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.88 dividend on an annualized basis and a yield of 0.64%. PulteGroup’s dividend payout ratio is 6.49%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Wells Fargo & Company upped their price target on PulteGroup from $150.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Bank of America lifted their target price on shares of PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Wolfe Research lowered PulteGroup from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Wedbush reaffirmed a “neutral” rating and set a $115.00 price target on shares of PulteGroup in a research report on Tuesday, October 22nd. Finally, UBS Group boosted their price objective on PulteGroup from $148.00 to $154.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $145.00.

About PulteGroup

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.