PulteGroup, Inc. (NYSE:PHM) Shares Sold by Montag A & Associates Inc.

Montag A & Associates Inc. lowered its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 6.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,195 shares of the construction company's stock after selling 2,354 shares during the period. Montag A & Associates Inc.'s holdings in PulteGroup were worth $3,521,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. AustralianSuper Pty Ltd grew its holdings in shares of PulteGroup by 219.2% during the first quarter. AustralianSuper Pty Ltd now owns 1,039,107 shares of the construction company's stock worth $106,820,000 after buying an additional 713,534 shares in the last quarter. Denali Advisors LLC grew its holdings in shares of PulteGroup by 38.3% during the first quarter. Denali Advisors LLC now owns 6,523 shares of the construction company's stock worth $671,000 after buying an additional 1,806 shares in the last quarter. Formidable Asset Management LLC purchased a new stake in shares of PulteGroup during the first quarter worth about $732,000. Mystic Asset Management Inc. purchased a new stake in shares of PulteGroup during the first quarter worth about $406,000. Finally, Retirement Planning Co of New England Inc. purchased a new stake in shares of PulteGroup during the first quarter worth about $406,000. Institutional investors and hedge funds own 89.90% of the company's stock.

PulteGroup Stock Down 0.5%

PulteGroup stock opened at $108.72 on Friday. The company has a 50-day simple moving average of $104.20 and a 200-day simple moving average of $104.80. The firm has a market capitalization 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. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 0.80. PulteGroup, Inc. has a one year low of $88.07 and a one year high of $149.47.

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 analysts' consensus estimates of $2.47 by $0.10. The firm had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.86 billion. PulteGroup had a net margin of 16.45% and a return on equity of 22.86%. During the same quarter in the prior year, the firm posted $3.10 EPS. As a group, equities analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Tuesday, June 17th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend was Tuesday, June 17th. PulteGroup's payout ratio is 6.21%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PHM shares. UBS Group lowered their target price on shares of PulteGroup from $151.00 to $141.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Oppenheimer reiterated an "outperform" rating and set a $132.00 price objective (up from $125.00) on shares of PulteGroup in a research note on Tuesday, July 15th. Royal Bank Of Canada decreased their price objective on shares of PulteGroup from $116.00 to $109.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 23rd. Barclays decreased their price objective on shares of 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, Wedbush reiterated an "outperform" rating and set a $135.00 price objective on shares of PulteGroup in a research note on Tuesday, April 22nd. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $133.69.

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.

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