GAMMA Investing LLC Buys 310,630 Shares of PulteGroup, Inc. (NYSE:PHM)

GAMMA Investing LLC grew its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 14,184.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 312,820 shares of the construction company's stock after purchasing an additional 310,630 shares during the quarter. GAMMA Investing LLC owned approximately 0.15% of PulteGroup worth $32,158,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Hager Investment Management Services LLC purchased a new stake in PulteGroup during the fourth quarter worth about $29,000. Ameriflex Group Inc. bought a new position in shares of PulteGroup during the 4th quarter valued at approximately $37,000. TD Waterhouse Canada Inc. increased its stake in shares of 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 purchasing an additional 105 shares during the last quarter. Quarry LP bought a new stake in shares of PulteGroup in the 4th quarter worth approximately $43,000. Finally, Oakworth Capital Inc. raised its holdings in shares of 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 purchasing an additional 411 shares during the period. 89.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PHM. Barclays reduced their price objective on PulteGroup from $100.00 to $98.00 and set an "equal weight" rating for the company in a report on Wednesday, April 23rd. UBS Group decreased their price objective on PulteGroup from $151.00 to $141.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Royal Bank of Canada lowered their price objective 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 dropped their price objective on shares of PulteGroup from $140.00 to $120.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Finally, Evercore ISI lifted their target price on shares of PulteGroup from $161.00 to $165.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 23rd. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $134.69.

PulteGroup Price Performance

PulteGroup stock traded down $0.95 during midday trading on Friday, reaching $100.69. 661,616 shares of the stock were exchanged, compared to its average volume of 2,010,239. 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 quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $20.18 billion, a PE ratio of 6.84, a PEG ratio of 0.29 and a beta of 1.37. The company's fifty day moving average is $99.61 and its 200-day moving average is $108.29.

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, beating 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 firm had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.86 billion. During the same period in the previous year, the business earned $3.10 EPS. On average, sell-side analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 17th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.87%. The ex-dividend date is Tuesday, June 17th. PulteGroup's payout ratio is 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.