SkyOak Wealth LLC Takes $378,000 Position in PulteGroup, Inc. (NYSE:PHM)

SkyOak Wealth LLC acquired a new position in PulteGroup, Inc. (NYSE:PHM - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,679 shares of the construction company's stock, valued at approximately $378,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PHM. Norges Bank purchased a new stake in PulteGroup in the 4th quarter worth about $427,562,000. Franklin Resources Inc. raised its position in PulteGroup by 6.1% in the 4th quarter. Franklin Resources Inc. now owns 11,937,866 shares of the construction company's stock worth $1,300,034,000 after purchasing an additional 683,592 shares during the period. Man Group plc increased its position in shares of PulteGroup by 136.8% during the fourth quarter. Man Group plc now owns 988,963 shares of the construction company's stock worth $107,698,000 after acquiring an additional 571,251 shares during the period. Voloridge Investment Management LLC purchased a new position in shares of PulteGroup during the fourth quarter worth approximately $47,133,000. Finally, Bridgewater Associates LP raised its stake in shares of PulteGroup by 118.8% during the fourth quarter. Bridgewater Associates LP now owns 783,581 shares of the construction company's stock valued at $85,332,000 after acquiring an additional 425,492 shares in the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on PHM. Barclays decreased their price target on shares of PulteGroup from $100.00 to $98.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company lifted their price target on shares of PulteGroup from $120.00 to $125.00 and gave the company an "overweight" rating in a research note on Tuesday. Evercore ISI lifted their price target on shares of PulteGroup from $161.00 to $165.00 and gave the company an "outperform" rating in a research note on Wednesday, April 23rd. UBS Group decreased their price target on shares of PulteGroup from $151.00 to $141.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Finally, Wedbush reaffirmed an "outperform" rating and set a $135.00 price target on shares of PulteGroup in a research note on Tuesday, April 22nd. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, PulteGroup currently has a consensus rating of "Moderate Buy" and an average price target of $135.08.

PulteGroup Stock Down 0.8%

NYSE PHM traded down $0.89 on Friday, hitting $114.29. The stock had a trading volume of 2,650,443 shares, compared to its average volume of 2,042,802. The business's fifty day moving average price is $103.47 and its 200 day moving average price is $104.83. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.80 and a quick ratio of 0.80. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $149.47. The stock has a market cap of $22.91 billion, a price-to-earnings ratio of 8.06, a price-to-earnings-growth ratio of 0.33 and a beta of 1.29.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The construction company reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.10. PulteGroup had a net margin of 16.45% and a return on equity of 22.86%. The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.86 billion. During the same period in the previous year, the company earned $3.10 earnings per share. Equities research analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Tuesday, June 17th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend was Tuesday, June 17th. PulteGroup's dividend payout ratio is currently 6.21%.

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.