Modern Wealth Management LLC Acquires Shares of 3,125 PulteGroup, Inc. $PHM

Key Points

• Modern Wealth Management LLC acquired 3,125 shares of PulteGroup, Inc., valued at approximately $321,000, in the first quarter, highlighting growing institutional interest in the company.
• Analysts are optimistic about PulteGroup's future, with multiple firms raising their target prices significantly, contributing to an average target price of $136.46.
• PulteGroup recently announced a quarterly dividend of $0.22 per share, reflecting a yield of 0.7%, with a low payout ratio of 6.58%, indicating potential for sustainable cash returns to investors.

Modern Wealth Management LLC acquired a new stake in PulteGroup, Inc. (NYSE:PHM - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 3,125 shares of the construction company's stock, valued at approximately $321,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PHM. WPG Advisers LLC bought a new position in shares of PulteGroup in the 1st quarter valued at about $25,000. Ameriflex Group Inc. bought a new position in shares of PulteGroup in the 4th quarter valued at about $37,000. American National Bank & Trust bought a new position in shares of PulteGroup in the 1st quarter valued at about $39,000. Catalyst Capital Advisors LLC bought a new position in shares of PulteGroup in the 1st quarter valued at about $54,000. Finally, Quarry LP boosted its stake in shares of PulteGroup by 43.8% in the 1st quarter. Quarry LP now owns 571 shares of the construction company's stock valued at $59,000 after purchasing an additional 174 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company's stock.

Wall Street Analysts Forecast Growth

PHM has been the topic of several recent research reports. Raymond James Financial reaffirmed an "outperform" rating and issued a $140.00 target price (up previously from $115.00) on shares of PulteGroup in a research note on Wednesday, July 23rd. Seaport Res Ptn raised shares of PulteGroup from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 22nd. Wells Fargo & Company raised their target price on shares of PulteGroup from $135.00 to $150.00 and gave the company an "overweight" rating in a research note on Tuesday, September 2nd. Oppenheimer raised their target price on shares of PulteGroup from $132.00 to $140.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. Finally, UBS Group lifted their price objective on shares of PulteGroup from $141.00 to $150.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $136.46.

PulteGroup Price Performance

NYSE PHM opened at $134.70 on Tuesday. The company has a market capitalization of $26.58 billion, a PE ratio of 10.07, a price-to-earnings-growth ratio of 0.40 and a beta of 1.27. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-month high of $149.47. The firm's 50 day moving average is $123.90 and its 200-day moving average is $109.55. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.13.

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

PulteGroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Tuesday, September 16th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Tuesday, September 16th. PulteGroup's payout ratio is presently 6.58%.

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.

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