Truist Financial Corp Acquires 12,099 Shares of PulteGroup, Inc. $PHM

Truist Financial Corp raised its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 18.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,519 shares of the construction company's stock after purchasing an additional 12,099 shares during the period. Truist Financial Corp's holdings in PulteGroup were worth $8,070,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PHM. WPG Advisers LLC bought a new position in PulteGroup during the 1st quarter valued at approximately $25,000. Catalyst Capital Advisors LLC bought a new position in PulteGroup during the 1st quarter valued at approximately $54,000. Quarry LP raised its position in PulteGroup by 43.8% during the 1st quarter. Quarry LP now owns 571 shares of the construction company's stock valued at $59,000 after purchasing an additional 174 shares during the last quarter. Grove Bank & Trust raised its position in shares of PulteGroup by 46.2% in the 1st quarter. Grove Bank & Trust now owns 760 shares of the construction company's stock worth $78,000 after acquiring an additional 240 shares in the last quarter. Finally, Reyes Financial Architecture Inc. raised its position in shares of PulteGroup by 42.1% in the 1st quarter. Reyes Financial Architecture Inc. now owns 770 shares of the construction company's stock worth $79,000 after acquiring an additional 228 shares in the last quarter. Institutional investors own 89.90% of the company's stock.

PulteGroup Stock Performance

PulteGroup stock opened at $137.70 on Monday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $27.17 billion, a P/E ratio of 10.29, a PEG ratio of 0.40 and a beta of 1.29. The stock's 50 day moving average is $129.39 and its 200 day moving average is $112.28. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month high of $149.47.

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

PulteGroup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 16th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.6%. The ex-dividend date was Tuesday, September 16th. PulteGroup's dividend payout ratio (DPR) is currently 6.58%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PHM shares. Seaport Res Ptn raised PulteGroup from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 22nd. Wedbush reissued an "outperform" rating and issued a $150.00 target price on shares of PulteGroup in a research report on Wednesday, August 13th. Royal Bank Of Canada increased their target price on PulteGroup from $109.00 to $112.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 23rd. UBS Group increased their target price on PulteGroup from $141.00 to $150.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Finally, Zacks Research raised PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Friday, August 29th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $137.31.

PulteGroup Company 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.

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