Kingsview Wealth Management LLC Has $9.17 Million Stock Position in PulteGroup, Inc. (NYSE:PHM)

Kingsview Wealth Management LLC grew its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 2,710.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 89,188 shares of the construction company's stock after purchasing an additional 86,014 shares during the period. Kingsview Wealth Management LLC's holdings in PulteGroup were worth $9,169,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of PulteGroup during the fourth quarter worth approximately $427,562,000. Franklin Resources Inc. boosted its stake in PulteGroup by 6.1% during the fourth quarter. Franklin Resources Inc. now owns 11,937,866 shares of the construction company's stock worth $1,300,034,000 after buying an additional 683,592 shares during the last quarter. Man Group plc boosted its stake in PulteGroup by 136.8% during the fourth quarter. Man Group plc now owns 988,963 shares of the construction company's stock worth $107,698,000 after buying an additional 571,251 shares during the last quarter. Voloridge Investment Management LLC acquired a new position in PulteGroup during the fourth quarter worth $47,133,000. Finally, Bridgewater Associates LP boosted its stake in PulteGroup by 118.8% during the fourth quarter. Bridgewater Associates LP now owns 783,581 shares of the construction company's stock worth $85,332,000 after buying an additional 425,492 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PHM shares. Oppenheimer reissued an "outperform" rating and set a $132.00 price objective (up previously from $125.00) on shares of PulteGroup in a research note on Tuesday. Evercore ISI lifted their target price on PulteGroup from $161.00 to $165.00 and gave the company an "outperform" rating in a research report on Wednesday, April 23rd. UBS Group reduced their target price on PulteGroup from $151.00 to $141.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Royal Bank Of Canada reduced their target price on PulteGroup from $116.00 to $109.00 and set a "sector perform" rating on the stock in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company lifted their target price on PulteGroup from $120.00 to $125.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $133.69.

PulteGroup Stock Down 0.5%

PulteGroup stock traded down $0.56 during midday trading on Friday, hitting $108.72. 1,941,121 shares of the stock were exchanged, compared to its average volume of 2,037,094. PulteGroup, Inc. has a 1 year low of $88.07 and a 1 year 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. The firm 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. The company has a 50 day moving average price of $104.07 and a two-hundred day moving average price of $104.83.

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

PulteGroup Announces Dividend

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