Envestnet Portfolio Solutions Inc. Has $1.19 Million Stake in PulteGroup, Inc. (NYSE:PHM)

Envestnet Portfolio Solutions Inc. cut its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 24.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,532 shares of the construction company's stock after selling 3,749 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in PulteGroup were worth $1,185,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PHM. Ameriflex Group Inc. bought a new stake in shares of PulteGroup during the 4th quarter worth approximately $37,000. TD Waterhouse Canada Inc. lifted its stake in PulteGroup by 43.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company's stock worth $38,000 after purchasing an additional 105 shares during the last quarter. American National Bank & Trust acquired a new stake in shares of PulteGroup in the 1st quarter valued at $39,000. Quarry LP bought a new position in shares of PulteGroup in the 4th quarter valued at $43,000. Finally, Sentry Investment Management LLC bought a new position in shares of PulteGroup in the 1st quarter valued at $61,000. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Trading Down 1.9%

Shares of PHM stock traded down $1.97 during trading hours on Wednesday, hitting $103.52. 1,667,590 shares of the company were exchanged, compared to its average volume of 2,018,360. The company has a 50 day simple moving average of $100.99 and a two-hundred day simple moving average of $105.42. The firm has a market cap of $20.75 billion, a P/E ratio of 7.30, a P/E/G ratio of 0.30 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 fifty-two week low of $88.07 and a fifty-two week high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The construction company reported $2.57 EPS for the quarter, topping analysts' consensus estimates of $2.47 by $0.10. PulteGroup had a net margin of 16.45% and a return on equity of 22.86%. The business had revenue of $3.89 billion during the quarter, compared to analysts' expectations of $3.86 billion. During the same period last year, the company posted $3.10 earnings per share. Equities analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 17th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Tuesday, June 17th. PulteGroup's payout ratio is 6.21%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PHM. UBS Group decreased their target price on PulteGroup from $151.00 to $141.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Evercore ISI raised their target price on shares of PulteGroup from $161.00 to $165.00 and gave the company an "outperform" rating in a research report on Wednesday, April 23rd. Royal Bank Of Canada lowered their price target on shares of PulteGroup from $116.00 to $109.00 and set a "sector perform" rating for the company in a report on Wednesday, April 23rd. Barclays reduced their price objective on PulteGroup from $100.00 to $98.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 23rd. Finally, Seaport Res Ptn raised shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research note on Thursday, March 6th. 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 MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $134.69.

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.