Merit Financial Group LLC Purchases 2,613 Shares of PulteGroup, Inc. (NYSE:PHM)

Merit Financial Group LLC lifted its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 20.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,388 shares of the construction company's stock after acquiring an additional 2,613 shares during the quarter. Merit Financial Group LLC's holdings in PulteGroup were worth $1,582,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PHM. Ameriflex Group Inc. purchased a new position in shares of PulteGroup during the fourth quarter valued at $37,000. TD Waterhouse Canada Inc. boosted its holdings in shares of 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 period. American National Bank & Trust purchased a new position in PulteGroup during the first quarter valued at approximately $39,000. Quarry LP acquired a new position in PulteGroup in the 4th quarter valued at approximately $43,000. Finally, Oakworth Capital Inc. lifted its position in PulteGroup by 642.2% in the 4th quarter. Oakworth Capital Inc. now owns 475 shares of the construction company's stock worth $52,000 after buying an additional 411 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PHM shares. Seaport Res Ptn upgraded PulteGroup from a "strong sell" rating to a "hold" rating in a report on Thursday, March 6th. Wedbush reaffirmed an "outperform" rating and set a $135.00 price target on shares of PulteGroup in a research note on Tuesday, April 22nd. Wells Fargo & Company lowered their price target on PulteGroup from $140.00 to $120.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Royal Bank of Canada dropped their price target on shares of PulteGroup from $116.00 to $109.00 and set a "sector perform" rating on the stock in a research note on Wednesday, April 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. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, PulteGroup has an average rating of "Moderate Buy" and an average price target of $134.69.

PulteGroup Stock Performance

PHM traded up $3.57 during midday trading on Tuesday, reaching $105.04. The company's stock had a trading volume of 2,169,575 shares, compared to its average volume of 2,014,461. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13. The company has a fifty day simple moving average of $99.64 and a 200 day simple moving average of $107.60. The stock has a market cap of $21.05 billion, a P/E ratio of 7.14, a PEG ratio of 0.29 and a beta of 1.29. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The construction company reported $2.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.47 by $0.10. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.86 billion. During the same quarter in the previous year, the firm posted $3.10 earnings per share. Research analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Tuesday, June 17th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Tuesday, June 17th. PulteGroup's dividend payout ratio is currently 6.21%.

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.