Cerity Partners LLC trimmed its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 23.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,437 shares of the construction company's stock after selling 10,848 shares during the quarter. Cerity Partners LLC's holdings in PulteGroup were worth $3,643,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Merit Financial Group LLC grew its stake in PulteGroup by 20.5% in the first quarter. Merit Financial Group LLC now owns 15,388 shares of the construction company's stock valued at $1,582,000 after purchasing an additional 2,613 shares in the last quarter. Vest Financial LLC grew its stake in PulteGroup by 1,311.3% in the first quarter. Vest Financial LLC now owns 312,723 shares of the construction company's stock valued at $32,148,000 after purchasing an additional 290,564 shares in the last quarter. Hudson Capital Management LLC grew its stake in PulteGroup by 8.6% in the first quarter. Hudson Capital Management LLC now owns 41,305 shares of the construction company's stock valued at $4,246,000 after purchasing an additional 3,266 shares in the last quarter. NBC Securities Inc. grew its stake in PulteGroup by 103,800.0% in the first quarter. NBC Securities Inc. now owns 5,195 shares of the construction company's stock valued at $534,000 after purchasing an additional 5,190 shares in the last quarter. Finally, Golden State Wealth Management LLC grew its stake in PulteGroup by 15.9% in the first quarter. Golden State Wealth Management LLC now owns 909 shares of the construction company's stock valued at $93,000 after purchasing an additional 125 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on the company. Royal Bank Of Canada reduced their target price on PulteGroup from $116.00 to $109.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 23rd. Oppenheimer reiterated an "outperform" rating and set a $132.00 target price (up from $125.00) on shares of PulteGroup in a research note on Tuesday. Wedbush reiterated an "outperform" rating and set a $135.00 target price on shares of PulteGroup in a research note on Tuesday, April 22nd. UBS Group reduced their target price on PulteGroup from $151.00 to $141.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Finally, Evercore ISI lifted their target price on PulteGroup from $161.00 to $165.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 23rd. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, PulteGroup currently has a consensus rating of "Moderate Buy" and a consensus target price of $133.69.
Read Our Latest Stock Report on PulteGroup
PulteGroup Stock Performance
PHM traded down $0.56 during trading on Friday, hitting $108.72. The stock had a trading volume of 1,941,121 shares, compared to its average volume of 2,037,094. The firm has a market cap of $21.79 billion, a price-to-earnings ratio of 7.67, a P/E/G ratio of 0.32 and a beta of 1.29. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.80 and a quick ratio of 0.80. The company has a 50 day moving average price of $104.07 and a 200-day moving average price of $104.83. PulteGroup, Inc. has a one year low of $88.07 and a one year high of $149.47.
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, beating the consensus estimate of $2.47 by $0.10. The firm had revenue of $3.89 billion during the quarter, compared to analysts' expectations of $3.86 billion. PulteGroup had a return on equity of 22.86% and a net margin of 16.45%. During the same period in the previous year, the firm earned $3.10 EPS. As a group, research analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current year.
PulteGroup Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Tuesday, June 17th were issued a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $0.88 annualized dividend and a yield of 0.81%. PulteGroup's dividend payout ratio is presently 6.21%.
About PulteGroup
(
Free Report)
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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