Mystic Asset Management Inc. Invests $406,000 in PulteGroup, Inc. (NYSE:PHM)

Mystic Asset Management Inc. bought a new position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,950 shares of the construction company's stock, valued at approximately $406,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ameriflex Group Inc. bought a new position in PulteGroup during the fourth quarter worth $37,000. TD Waterhouse Canada Inc. grew its position in PulteGroup by 43.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company's stock valued at $38,000 after buying an additional 105 shares in the last quarter. American National Bank & Trust bought a new stake in PulteGroup in the first quarter worth about $39,000. Quarry LP bought a new stake in PulteGroup in the fourth quarter worth about $43,000. Finally, Catalyst Capital Advisors LLC bought a new stake in PulteGroup in the first quarter worth about $54,000. Institutional investors and hedge funds own 89.90% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on PHM. Royal Bank Of Canada lowered their target price on PulteGroup from $116.00 to $109.00 and set a "sector perform" rating on the stock in a research note on Wednesday, April 23rd. Wells Fargo & Company boosted their target price on PulteGroup from $120.00 to $125.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Wedbush reiterated an "outperform" rating and set a $135.00 price target on shares of PulteGroup in a report on Tuesday, April 22nd. Barclays cut their target price on PulteGroup from $100.00 to $98.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 23rd. Finally, Oppenheimer restated an "outperform" rating and issued a $132.00 target price (up from $125.00) on shares of PulteGroup in a research note on Tuesday. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $133.69.

PulteGroup Trading Down 0.5%

NYSE PHM traded down $0.56 during trading hours on Friday, reaching $108.72. The company's stock had a trading volume of 1,941,121 shares, compared to its average volume of 2,037,094. The firm has a fifty day simple moving average of $104.20 and a 200-day simple moving average of $104.83. The stock has a market cap of $21.79 billion, a P/E ratio of 7.67, a P/E/G ratio of 0.32 and a beta of 1.29. PulteGroup, Inc. has a 52 week low of $88.07 and a 52 week high of $149.47. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.80 and a quick ratio of 0.80.

PulteGroup (NYSE:PHM - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The construction company reported $2.57 EPS for the quarter, beating the consensus estimate of $2.47 by $0.10. PulteGroup had a return on equity of 22.86% and a net margin of 16.45%. The company had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.86 billion. During the same quarter in the prior year, the company earned $3.10 EPS. Equities analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Tuesday, June 17th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend was Tuesday, June 17th. PulteGroup's dividend payout ratio (DPR) is presently 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.