Park Place Capital Corp Lowers Position in PulteGroup, Inc. (NYSE:PHM)

Park Place Capital Corp cut its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 81.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 612 shares of the construction company's stock after selling 2,736 shares during the quarter. Park Place Capital Corp's holdings in PulteGroup were worth $63,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Sequoia Financial Advisors LLC grew its holdings in shares of PulteGroup by 11.7% during the 1st quarter. Sequoia Financial Advisors LLC now owns 22,015 shares of the construction company's stock worth $2,263,000 after purchasing an additional 2,303 shares during the period. Omnia Family Wealth LLC grew its position in PulteGroup by 8.4% in the 1st quarter. Omnia Family Wealth LLC now owns 2,333 shares of the construction company's stock valued at $240,000 after acquiring an additional 180 shares in the last quarter. Golden State Wealth Management LLC grew its position in PulteGroup by 136.5% in the 1st quarter. Golden State Wealth Management LLC now owns 1,854 shares of the construction company's stock valued at $191,000 after acquiring an additional 1,070 shares in the last quarter. Spire Wealth Management grew its position in PulteGroup by 80.9% in the 1st quarter. Spire Wealth Management now owns 2,956 shares of the construction company's stock valued at $304,000 after acquiring an additional 1,322 shares in the last quarter. Finally, Golden State Equity Partners grew its position in PulteGroup by 15.7% in the 1st quarter. Golden State Equity Partners now owns 2,617 shares of the construction company's stock valued at $269,000 after acquiring an additional 356 shares in the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PHM has been the subject of several research reports. Royal Bank Of Canada dropped their target price on PulteGroup from $116.00 to $109.00 and set a "sector perform" rating for the company in a research report on Wednesday, April 23rd. Seaport Res Ptn raised PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 6th. Barclays dropped their target price on PulteGroup from $100.00 to $98.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 23rd. UBS Group dropped their target price on PulteGroup from $151.00 to $141.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Finally, Evercore ISI lifted their price objective on PulteGroup from $161.00 to $165.00 and gave the company an "outperform" rating in a research note on Wednesday, April 23rd. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, PulteGroup has an average rating of "Moderate Buy" and an average price target of $134.69.

PulteGroup Trading Up 1.1%

PHM opened at $105.56 on Friday. The firm has a market cap of $21.16 billion, a price-to-earnings ratio of 7.44, a price-to-earnings-growth ratio of 0.30 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 business's 50 day moving average is $101.61 and its two-hundred day moving average is $105.10. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.13.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The construction company reported $2.57 EPS for the quarter, topping 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 previous year, the company posted $3.10 earnings per share. On average, research analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Tuesday, June 17th will be paid a $0.22 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $0.88 annualized dividend and a dividend yield of 0.83%. PulteGroup's dividend payout ratio (DPR) is currently 6.21%.

PulteGroup 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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