Cambridge Investment Research Advisors Inc. Reduces Position in PulteGroup, Inc. (NYSE:PHM)

Cambridge Investment Research Advisors Inc. decreased its position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 7.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,807 shares of the construction company's stock after selling 2,570 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in PulteGroup were worth $3,064,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of PulteGroup during the fourth quarter worth approximately $427,562,000. Amundi grew its position in PulteGroup by 77.9% during the 4th quarter. Amundi now owns 1,636,562 shares of the construction company's stock worth $180,775,000 after purchasing an additional 716,716 shares during the last quarter. Franklin Resources Inc. grew its position in PulteGroup by 6.1% during 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 last quarter. Man Group plc increased its stake in PulteGroup by 136.8% in the fourth quarter. Man Group plc now owns 988,963 shares of the construction company's stock valued at $107,698,000 after purchasing an additional 571,251 shares during the period. Finally, Voloridge Investment Management LLC purchased a new stake in shares of PulteGroup in the fourth quarter valued at about $47,133,000. Hedge funds and other institutional investors own 89.90% of the company's stock.

PulteGroup Trading Up 1.1%

Shares of PHM opened at $105.56 on Monday. PulteGroup, Inc. has a one year low of $88.07 and a one year high of $149.47. The stock has a 50-day moving average price of $101.61 and a 200 day moving average price of $104.88. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market capitalization of $21.16 billion, a P/E ratio of 7.44, a P/E/G ratio of 0.31 and a beta of 1.29.

PulteGroup (NYSE:PHM - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The construction company reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.10. The company had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.86 billion. PulteGroup had a net margin of 16.45% and a return on equity of 22.86%. During the same period last year, the business earned $3.10 EPS. Sell-side 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 will be paid on Wednesday, July 2nd. Stockholders of record on Tuesday, June 17th will be given a $0.22 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.83%. PulteGroup's payout ratio is currently 6.21%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Royal Bank Of Canada lowered their price target on PulteGroup from $116.00 to $109.00 and set a "sector perform" rating on the stock in a report on Wednesday, April 23rd. Wedbush reaffirmed an "outperform" rating and set a $135.00 price objective on shares of PulteGroup in a research report on Tuesday, April 22nd. Barclays dropped their target price on PulteGroup from $100.00 to $98.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 23rd. Wells Fargo & Company cut their price target on PulteGroup from $140.00 to $120.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Finally, UBS Group lowered their price objective on shares of PulteGroup from $151.00 to $141.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, PulteGroup currently has a consensus rating of "Moderate Buy" and an average target price of $134.69.

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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