PulteGroup, Inc. (NYSE:PHM) Shares Purchased by Assetmark Inc.

Key Points

• Assetmark Inc. increased its holdings in PulteGroup, Inc. by 0.5%, acquiring an additional 3,154 shares, bringing its total to 618,601 shares valued at approximately $63.6 million.
• PulteGroup's stock rose by 0.4% to $116.45, with a market cap of $22.98 billion and a PE ratio of 8.70, despite experiencing a 4.3% year-over-year decrease in revenue.
• The company announced a quarterly dividend of $0.22, translating to an annualized yield of 0.76%, as it continues to attract significant interest from institutional investors, with 89.90% of stock owned by them.

Assetmark Inc. increased its position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 0.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 618,601 shares of the construction company's stock after purchasing an additional 3,154 shares during the quarter. Assetmark Inc. owned 0.31% of PulteGroup worth $63,592,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. TD Waterhouse Canada Inc. raised its holdings in PulteGroup by 43.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company's stock worth $38,000 after purchasing an additional 105 shares during the last quarter. NDVR Inc. raised its holdings in shares of PulteGroup by 6.0% in the fourth quarter. NDVR Inc. now owns 1,984 shares of the construction company's stock worth $216,000 after acquiring an additional 112 shares during the last quarter. Coppell Advisory Solutions LLC raised its holdings in shares of PulteGroup by 10.0% in the fourth quarter. Coppell Advisory Solutions LLC now owns 1,271 shares of the construction company's stock worth $138,000 after acquiring an additional 116 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of PulteGroup by 1.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 10,113 shares of the construction company's stock worth $1,117,000 after acquiring an additional 118 shares during the last quarter. Finally, Huntington National Bank raised its holdings in shares of PulteGroup by 1.2% in the fourth quarter. Huntington National Bank now owns 10,273 shares of the construction company's stock worth $1,119,000 after acquiring an additional 118 shares during the last quarter. 89.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PHM has been the subject of a number of analyst reports. Evercore ISI boosted their price target on PulteGroup from $161.00 to $165.00 and gave the stock an "outperform" rating in a report on Wednesday, April 23rd. Oppenheimer lifted their price objective on PulteGroup from $132.00 to $140.00 and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada lifted their price objective on PulteGroup from $109.00 to $112.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 23rd. Wedbush reaffirmed an "outperform" rating and issued a $135.00 price objective on shares of PulteGroup in a research report on Tuesday, April 22nd. Finally, Barclays lowered their price objective on PulteGroup from $100.00 to $98.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 23rd. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $134.15.

PulteGroup Stock Up 0.7%

Shares of NYSE:PHM traded up $0.82 during trading on Monday, hitting $117.17. The company's stock had a trading volume of 433,341 shares, compared to its average volume of 2,187,698. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 0.77. PulteGroup, Inc. has a fifty-two week low of $88.07 and a fifty-two week high of $149.47. The stock's 50-day moving average price is $105.38 and its two-hundred day moving average price is $105.02. The company has a market capitalization of $23.12 billion, a PE ratio of 8.76, a PEG ratio of 0.34 and a beta of 1.29.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The construction company reported $3.03 EPS for the quarter, topping 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 analysts' expectations of $4.42 billion. During the same quarter in the previous year, the firm posted $3.83 earnings per share. The company's revenue was down 4.3% compared to the same quarter last year. As a group, sell-side analysts expect that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Tuesday, June 17th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend was Tuesday, June 17th. PulteGroup's payout ratio is currently 6.58%.

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.