Bingham Private Wealth LLC Invests $254,000 in PulteGroup, Inc. (NYSE:PHM)

Bingham Private Wealth LLC bought a new position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 2,472 shares of the construction company's stock, valued at approximately $254,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Franklin Resources Inc. boosted its stake in PulteGroup by 6.1% in the 4th quarter. Franklin Resources Inc. now owns 11,937,866 shares of the construction company's stock valued at $1,300,034,000 after purchasing an additional 683,592 shares during the period. Geode Capital Management LLC boosted its stake in PulteGroup by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 5,120,878 shares of the construction company's stock valued at $556,465,000 after purchasing an additional 64,947 shares during the period. Norges Bank bought a new stake in PulteGroup in the 4th quarter valued at $427,562,000. Northern Trust Corp boosted its stake in PulteGroup by 14.9% in the 4th quarter. Northern Trust Corp now owns 2,425,941 shares of the construction company's stock valued at $264,185,000 after purchasing an additional 315,148 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in PulteGroup by 9.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,033,776 shares of the construction company's stock valued at $221,478,000 after purchasing an additional 169,736 shares during the period. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Stock Down 0.5%

Shares of NYSE:PHM opened at $108.72 on Friday. The business's 50 day simple moving average is $104.20 and its two-hundred day simple moving average is $104.80. The firm has a market cap of $21.79 billion, a P/E ratio of 7.67, a PEG ratio of 0.32 and a beta of 1.29. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 0.80. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last announced 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. The business had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.86 billion. PulteGroup had a return on equity of 22.86% and a net margin of 16.45%. During the same quarter in the prior year, the company posted $3.10 earnings per share. As a group, research analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Tuesday, June 17th were issued a dividend of $0.22 per share. The ex-dividend date was Tuesday, June 17th. This represents a $0.88 dividend on an annualized basis and a yield of 0.81%. PulteGroup's dividend payout ratio (DPR) is currently 6.21%.

Analyst Ratings Changes

Several equities analysts have weighed in on PHM shares. Wells Fargo & Company lifted their price objective on PulteGroup from $120.00 to $125.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Oppenheimer reissued an "outperform" rating and set a $132.00 price target (up previously from $125.00) on shares of PulteGroup in a report on Tuesday, July 15th. 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. UBS Group lowered their price target on PulteGroup from $151.00 to $141.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Finally, Royal Bank Of Canada lowered their price target on PulteGroup from $116.00 to $109.00 and set a "sector perform" rating for the company in a report on Wednesday, April 23rd. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $133.69.

About PulteGroup

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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