NorthCrest Asset Manangement LLC Increases Position in PulteGroup, Inc. (NYSE:PHM)

NorthCrest Asset Manangement LLC raised its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 3.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 128,929 shares of the construction company's stock after acquiring an additional 3,755 shares during the quarter. NorthCrest Asset Manangement LLC owned approximately 0.06% of PulteGroup worth $13,254,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PHM. Ameriflex Group Inc. bought a new stake in PulteGroup during the fourth quarter valued at about $37,000. TD Waterhouse Canada Inc. raised its holdings in PulteGroup by 43.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company's stock valued at $38,000 after acquiring an additional 105 shares during the period. American National Bank & Trust bought a new stake in PulteGroup during the first quarter valued at about $39,000. Quarry LP bought a new stake in PulteGroup during the fourth quarter valued at about $43,000. Finally, Sentry Investment Management LLC bought a new stake in PulteGroup during the first quarter valued at about $61,000. 89.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PHM shares. UBS Group reduced their target price on PulteGroup from $151.00 to $141.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Wells Fargo & Company reduced their target price on PulteGroup from $140.00 to $120.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Seaport Res Ptn raised PulteGroup from a "strong sell" rating to a "hold" rating in a report on Thursday, March 6th. Wedbush reaffirmed an "outperform" rating and issued a $135.00 target price on shares of PulteGroup in a report on Tuesday, April 22nd. Finally, Barclays reduced their target price on PulteGroup from $100.00 to $98.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 23rd. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, PulteGroup currently has an average rating of "Moderate Buy" and a consensus target price of $134.69.

PulteGroup Trading Down 2.6%

PHM traded down $2.73 on Friday, hitting $101.43. The company had a trading volume of 1,597,599 shares, compared to its average volume of 2,014,729. The company has a market cap of $20.33 billion, a PE ratio of 6.89, a PEG ratio of 0.29 and a beta of 1.29. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-month high of $149.47. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. The business's fifty day simple moving average is $99.85 and its 200 day simple moving average is $107.34.

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, beating the consensus estimate of $2.47 by $0.10. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. The business had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.86 billion. During the same quarter in the previous year, the business earned $3.10 earnings per share. Equities research analysts expect that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Tuesday, June 17th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.88 annualized dividend and a dividend yield of 0.87%. PulteGroup's dividend payout ratio (DPR) is presently 6.21%.

About PulteGroup

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.