Hancock Whitney Corp Invests $231,000 in PulteGroup, Inc. $PHM

Key Points

• Hancock Whitney Corp has acquired a new stake in PulteGroup, Inc., purchasing 2,246 shares valued at approximately $231,000 during the 1st quarter.
• PulteGroup reported $3.03 earnings per share (EPS) for the recent quarter, exceeding estimates, while also announcing a quarterly dividend of $0.22 to be paid in October.
• Recent analyst reports have increased PulteGroup's price targets, with recommendations ranging from "Overweight" to "Moderate Buy", highlighting positive sentiment around the stock's future performance.

Hancock Whitney Corp bought a new stake in PulteGroup, Inc. (NYSE:PHM - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,246 shares of the construction company's stock, valued at approximately $231,000.

Other large investors have also recently bought and sold shares of the company. Baird Financial Group Inc. increased its stake in shares of PulteGroup by 0.9% during the fourth quarter. Baird Financial Group Inc. now owns 31,170 shares of the construction company's stock valued at $3,394,000 after acquiring an additional 293 shares during the period. Fiduciary Trust Co boosted its stake in PulteGroup by 19.5% during the 4th quarter. Fiduciary Trust Co now owns 2,593 shares of the construction company's stock valued at $282,000 after purchasing an additional 423 shares in the last quarter. Ensign Peak Advisors Inc increased its position in shares of PulteGroup by 4.1% during the 4th quarter. Ensign Peak Advisors Inc now owns 101,163 shares of the construction company's stock valued at $11,017,000 after purchasing an additional 4,005 shares during the period. Focus Partners Wealth raised its stake in shares of PulteGroup by 8.6% in the 4th quarter. Focus Partners Wealth now owns 10,389 shares of the construction company's stock worth $1,133,000 after buying an additional 827 shares in the last quarter. Finally, Graham Capital Management L.P. acquired a new stake in shares of PulteGroup in the fourth quarter valued at $958,000. Institutional investors and hedge funds own 89.90% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Royal Bank Of Canada boosted their price target on shares of PulteGroup from $109.00 to $112.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 23rd. Zacks Research raised shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research note on Friday, August 29th. Wells Fargo & Company raised their target price on shares of PulteGroup from $135.00 to $150.00 and gave the stock an "overweight" rating in a report on Tuesday, September 2nd. JPMorgan Chase & Co. upped their price target on PulteGroup from $121.00 to $123.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Finally, Oppenheimer upped their price objective on shares of PulteGroup from $132.00 to $140.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, PulteGroup presently has an average rating of "Moderate Buy" and a consensus target price of $136.46.

PulteGroup Stock Up 2.5%

PHM stock traded up $3.33 during midday trading on Thursday, reaching $138.74. The company had a trading volume of 1,735,505 shares, compared to its average volume of 2,158,568. The company has a 50 day moving average of $122.22 and a two-hundred day moving average of $108.78. The company has a market capitalization of $27.37 billion, a P/E ratio of 10.37, a PEG ratio of 0.40 and a beta of 1.27. PulteGroup, Inc. has a 1 year low of $88.07 and a 1 year high of $149.47. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13.

PulteGroup (NYSE:PHM - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The construction company reported $3.03 earnings per share for the quarter, topping analysts' consensus estimates of $2.92 by $0.11. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. The business had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.42 billion. During the same period in the prior year, the business posted $3.83 earnings per share. PulteGroup's revenue for the quarter was down 4.3% compared to the same quarter last year. On average, equities research analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 16th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Tuesday, September 16th. PulteGroup's payout ratio is currently 6.58%.

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.