KBC Group NV Has $6.07 Million Stake in PulteGroup, Inc. (NYSE:PHM)

KBC Group NV decreased its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 61.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 59,042 shares of the construction company's stock after selling 95,617 shares during the quarter. KBC Group NV's holdings in PulteGroup were worth $6,070,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC lifted its position in PulteGroup by 15.9% in the 1st 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 in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of PulteGroup by 4.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 715,783 shares of the construction company's stock valued at $73,754,000 after purchasing an additional 31,158 shares in the last quarter. Vista Investment Partners II LLC raised its holdings in shares of PulteGroup by 37.8% during the 1st quarter. Vista Investment Partners II LLC now owns 12,119 shares of the construction company's stock valued at $1,246,000 after purchasing an additional 3,322 shares in the last quarter. Kessler Investment Group LLC bought a new position in shares of PulteGroup during the 1st quarter valued at $4,883,000. Finally, Illinois Municipal Retirement Fund raised its holdings in shares of PulteGroup by 11.8% during the 1st quarter. Illinois Municipal Retirement Fund now owns 87,647 shares of the construction company's stock valued at $9,010,000 after purchasing an additional 9,269 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company's stock.

PulteGroup Stock Performance

NYSE:PHM traded down $2.07 during midday trading on Friday, reaching $109.27. The stock had a trading volume of 1,616,063 shares, compared to its average volume of 2,028,302. PulteGroup, Inc. has a 1-year low of $88.07 and a 1-year high of $149.47. The firm's fifty day simple moving average is $102.52 and its 200-day simple moving average is $104.77. 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 market capitalization of $21.90 billion, a P/E ratio of 7.71, a PEG ratio of 0.32 and a beta of 1.29.

PulteGroup (NYSE:PHM - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The construction company reported $2.57 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $3.86 billion. During the same period last year, the business posted $3.10 EPS. On average, equities research analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Announces Dividend

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. 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 6.21%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on PHM shares. Wedbush restated an "outperform" rating and set a $135.00 price target on shares of PulteGroup in a report on Tuesday, April 22nd. Wells Fargo & Company cut their price target on shares of PulteGroup from $140.00 to $120.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. 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. 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, 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. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, PulteGroup presently has an average rating of "Moderate Buy" and a consensus price target of $134.69.

PulteGroup Company 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.