Maridea Wealth Management LLC Takes $444,000 Position in PulteGroup, Inc. (NYSE:PHM)

Key Points

• Maridea Wealth Management LLC acquired a new stake in PulteGroup, Inc. during the first quarter, purchasing 4,317 shares valued at approximately $444,000.
• PulteGroup reported earnings of $3.03 per share in its latest quarter, exceeding estimates, though revenue was down 4.3% year-over-year.
• The company declared a quarterly dividend of $0.22 per share, representing an annual yield of 0.75%, with a low payout ratio of 6.58%.

Maridea Wealth Management LLC purchased a new stake in PulteGroup, Inc. (NYSE:PHM - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 4,317 shares of the construction company's stock, valued at approximately $444,000.

Other large investors have also recently added to or reduced their stakes in the company. Ameriflex Group Inc. acquired a new stake in PulteGroup during the 4th quarter worth approximately $37,000. TD Waterhouse Canada Inc. boosted its position in PulteGroup by 43.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company's stock worth $38,000 after buying an additional 105 shares during the period. American National Bank & Trust acquired a new stake in PulteGroup during the 1st quarter worth approximately $39,000. Quarry LP acquired a new stake in PulteGroup during the 4th quarter worth approximately $43,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in PulteGroup during the 1st quarter worth approximately $54,000. Institutional investors and hedge funds own 89.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price target on shares of PulteGroup from $125.00 to $135.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Citigroup boosted their price target on shares of PulteGroup from $128.00 to $132.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Seaport Res Ptn upgraded shares of PulteGroup from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 22nd. Raymond James Financial reiterated an "outperform" rating and issued a $140.00 price objective (up previously from $115.00) on shares of PulteGroup in a research note on Wednesday, July 23rd. Finally, Evercore ISI lifted their price objective on shares of PulteGroup from $161.00 to $165.00 and gave the company an "outperform" rating in a research note on Wednesday, April 23rd. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, PulteGroup has a consensus rating of "Moderate Buy" and an average target price of $134.15.

PulteGroup Stock Performance

Shares of PHM traded up $3.42 on Friday, reaching $116.34. The company's stock had a trading volume of 1,158,448 shares, compared to its average volume of 2,180,906. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.77 and a quick ratio of 0.77. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-month high of $149.47. The stock has a market capitalization of $22.95 billion, a P/E ratio of 8.68, a PEG ratio of 0.33 and a beta of 1.29. The stock's 50 day simple moving average is $106.55 and its two-hundred day simple moving average is $105.25.

PulteGroup (NYSE:PHM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The construction company reported $3.03 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.11. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. The business had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.42 billion. During the same quarter in the previous year, the firm earned $3.83 earnings per share. The company's revenue for the quarter was down 4.3% on a year-over-year basis. Research analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

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.