Bellwether Advisors LLC Buys 6,057 Shares of PulteGroup, Inc. (NYSE:PHM)

Key Points

• Bellwether Advisors LLC increased its stake in PulteGroup, Inc. by 4,206.3%, acquiring a total of 6,201 shares valued at approximately $637,000.
• PulteGroup reported $3.03 earnings per share (EPS) for its latest quarter, exceeding expectations, but noted a 4.3% decrease in revenue year-over-year.
• Analysts have adjusted their price targets for PulteGroup, with UBS raising its target from $141.00 to $150.00 and several firms maintaining or upgrading their ratings.

Bellwether Advisors LLC lifted its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 4,206.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,201 shares of the construction company's stock after acquiring an additional 6,057 shares during the quarter. Bellwether Advisors LLC's holdings in PulteGroup were worth $637,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PHM. Ameriflex Group Inc. bought a new stake in shares of PulteGroup in the 4th quarter worth $37,000. TD Waterhouse Canada Inc. grew its stake in shares of PulteGroup by 43.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company's stock worth $38,000 after acquiring an additional 105 shares in the last quarter. American National Bank & Trust bought a new stake in shares of PulteGroup in the 1st quarter worth $39,000. Quarry LP bought a new position in PulteGroup during the fourth quarter valued at about $43,000. Finally, Catalyst Capital Advisors LLC bought a new position in PulteGroup during the first quarter valued at about $54,000. Institutional investors own 89.90% of the company's stock.

PulteGroup Price Performance

Shares of PulteGroup stock traded up $0.57 on Monday, reaching $116.92. The stock had a trading volume of 1,569,080 shares, compared to its average volume of 2,366,847. PulteGroup, Inc. has a 1 year low of $88.07 and a 1 year high of $149.47. The company has a market cap of $23.07 billion, a P/E ratio of 8.74, a price-to-earnings-growth ratio of 0.34 and a beta of 1.29. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13. The business's 50 day moving average is $105.66 and its two-hundred day moving average is $105.08.

PulteGroup (NYSE:PHM - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The construction company reported $3.03 earnings per share (EPS) 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 firm 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 firm posted $3.83 earnings per share. The company's revenue for the quarter was down 4.3% on a year-over-year basis. As a group, research analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Tuesday, June 17th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.75%. The ex-dividend date was Tuesday, June 17th. PulteGroup's dividend payout ratio (DPR) is 6.58%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PHM shares. Royal Bank Of Canada increased their price target on shares of PulteGroup from $109.00 to $112.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 23rd. Oppenheimer increased their price target on shares of PulteGroup from $132.00 to $140.00 and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. Barclays reduced 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 report on Wednesday, April 23rd. JPMorgan Chase & Co. increased their price target on shares of PulteGroup from $121.00 to $123.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Finally, Evercore ISI increased their price target on shares of PulteGroup from $161.00 to $165.00 and gave the company an "outperform" rating in a research report on Wednesday, April 23rd. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $134.15.

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.