Envestnet Asset Management Inc. Purchases 2,930 Shares of PulteGroup, Inc. (NYSE:PHM)

Envestnet Asset Management Inc. lifted its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 315,927 shares of the construction company's stock after buying an additional 2,930 shares during the quarter. Envestnet Asset Management Inc. owned about 0.16% of PulteGroup worth $32,477,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. McGlone Suttner Wealth Management Inc. boosted its position in PulteGroup by 6.3% during the first quarter. McGlone Suttner Wealth Management Inc. now owns 2,234 shares of the construction company's stock worth $230,000 after purchasing an additional 133 shares during the period. Concurrent Investment Advisors LLC boosted its position in PulteGroup by 87.4% during the first quarter. Concurrent Investment Advisors LLC now owns 8,212 shares of the construction company's stock worth $844,000 after purchasing an additional 3,831 shares during the period. Catalyst Capital Advisors LLC bought a new stake in PulteGroup during the first quarter worth approximately $54,000. IFM Investors Pty Ltd boosted its position in PulteGroup by 9.0% during the first quarter. IFM Investors Pty Ltd now owns 52,939 shares of the construction company's stock worth $5,442,000 after purchasing an additional 4,382 shares during the period. Finally, OneDigital Investment Advisors LLC boosted its position in PulteGroup by 14.6% during the first quarter. OneDigital Investment Advisors LLC now owns 3,321 shares of the construction company's stock worth $341,000 after purchasing an additional 424 shares during the period. Institutional investors own 89.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PHM shares. UBS Group decreased their target price on PulteGroup from $151.00 to $141.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Barclays cut their price target on PulteGroup from $100.00 to $98.00 and set an "equal weight" rating for the company in a report on Wednesday, April 23rd. Wedbush reiterated an "outperform" rating and set a $135.00 price target on shares of PulteGroup in a report on Tuesday, April 22nd. Wells Fargo & Company upped their price target on PulteGroup from $120.00 to $125.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Finally, Evercore ISI upped 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. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $135.08.

PulteGroup Stock Performance

Shares of NYSE PHM opened at $112.96 on Tuesday. The business has a fifty day simple moving average of $103.65 and a 200 day simple moving average of $104.77. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $22.64 billion, a price-to-earnings ratio of 7.97, a PEG ratio of 0.33 and a beta of 1.29. 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 results on Tuesday, April 22nd. The construction company reported $2.57 earnings per share for the quarter, beating analysts' consensus estimates of $2.47 by $0.10. PulteGroup had a return on equity of 22.86% and a net margin of 16.45%. The firm had revenue of $3.89 billion for the quarter, compared to analysts' expectations of $3.86 billion. During the same period in the prior year, the business posted $3.10 earnings per share. Sell-side analysts expect that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Tuesday, June 17th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date was Tuesday, June 17th. PulteGroup's dividend payout ratio (DPR) is 6.21%.

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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