Concord Asset Management LLC VA Purchases 2,255 Shares of PulteGroup, Inc. (NYSE:PHM)

Concord Asset Management LLC VA lifted its holdings in PulteGroup, Inc. (NYSE:PHM - Free Report) by 43.7% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 7,418 shares of the construction company's stock after acquiring an additional 2,255 shares during the quarter. Concord Asset Management LLC VA's holdings in PulteGroup were worth $750,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Merit Financial Group LLC increased its stake in shares of PulteGroup by 20.5% in the first quarter. Merit Financial Group LLC now owns 15,388 shares of the construction company's stock worth $1,582,000 after buying an additional 2,613 shares during the period. Vest Financial LLC increased its stake in shares of PulteGroup by 1,311.3% in the first quarter. Vest Financial LLC now owns 312,723 shares of the construction company's stock worth $32,148,000 after buying an additional 290,564 shares during the period. Hudson Capital Management LLC increased its stake in shares of PulteGroup by 8.6% in the first quarter. Hudson Capital Management LLC now owns 41,305 shares of the construction company's stock worth $4,246,000 after buying an additional 3,266 shares during the period. NBC Securities Inc. increased its stake in shares of PulteGroup by 103,800.0% in the first quarter. NBC Securities Inc. now owns 5,195 shares of the construction company's stock worth $534,000 after buying an additional 5,190 shares during the period. Finally, Golden State Wealth Management LLC increased its stake in shares of PulteGroup by 15.9% in the first quarter. Golden State Wealth Management LLC now owns 909 shares of the construction company's stock worth $93,000 after buying an additional 125 shares during the period. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Price Performance

Shares of NYSE PHM traded down $0.56 during mid-day trading on Friday, reaching $108.72. The company's stock had a trading volume of 1,930,773 shares, compared to its average volume of 2,041,915. The firm has a market capitalization of $21.79 billion, a PE 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 stock has a fifty day moving average of $104.07 and a two-hundred day moving average of $104.83. 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 released its quarterly earnings data on Tuesday, April 22nd. The construction company reported $2.57 earnings per share for the quarter, topping analysts' consensus estimates of $2.47 by $0.10. The firm had revenue of $3.89 billion during the quarter, compared to analyst estimates 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, sell-side analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Wedbush reiterated an "outperform" rating and issued a $135.00 price target on shares of PulteGroup in a report on Tuesday, April 22nd. Royal Bank Of Canada cut their price target on shares of PulteGroup from $116.00 to $109.00 and set a "sector perform" rating on the stock in a report on Wednesday, April 23rd. UBS Group cut their price target on shares of PulteGroup from $151.00 to $141.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Barclays cut their price target on shares of PulteGroup from $100.00 to $98.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 23rd. Finally, Evercore ISI raised their price objective on PulteGroup from $161.00 to $165.00 and gave the company an "outperform" rating in a research report on Wednesday, April 23rd. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, PulteGroup presently has a consensus rating of "Moderate Buy" and an average target price of $133.69.

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.