PulteGroup, Inc. $PHM Shares Acquired by NewEdge Advisors LLC

Key Points

• NewEdge Advisors LLC increased its stake in PulteGroup by 16.1%, owning 34,512 shares worth approximately $3.55 million after acquiring additional shares in the first quarter.
• Several analysts have positively revised their ratings and price targets for PulteGroup, with Oppenheimer boosting the target from $132 to $140 and maintaining an "outperform" rating.
• PulteGroup announced a quarterly dividend of $0.22 per share, with an expected annual yield of 0.6%, signifying a steady return to its shareholders.

NewEdge Advisors LLC lifted its stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 16.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 34,512 shares of the construction company's stock after purchasing an additional 4,793 shares during the period. NewEdge Advisors LLC's holdings in PulteGroup were worth $3,548,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of PHM. Merit Financial Group LLC lifted its holdings in PulteGroup by 20.5% in the first quarter. Merit Financial Group LLC now owns 15,388 shares of the construction company's stock worth $1,582,000 after acquiring an additional 2,613 shares during the last quarter. Vest Financial LLC lifted its holdings in PulteGroup by 1,311.3% in the first quarter. Vest Financial LLC now owns 312,723 shares of the construction company's stock worth $32,148,000 after acquiring an additional 290,564 shares during the last quarter. Hudson Capital Management LLC lifted its holdings in PulteGroup by 8.6% in the first quarter. Hudson Capital Management LLC now owns 41,305 shares of the construction company's stock worth $4,246,000 after acquiring an additional 3,266 shares during the last quarter. NBC Securities Inc. lifted its holdings in PulteGroup by 103,800.0% in the first quarter. NBC Securities Inc. now owns 5,195 shares of the construction company's stock worth $534,000 after acquiring an additional 5,190 shares during the last quarter. Finally, Reyes Financial Architecture Inc. lifted its holdings in PulteGroup by 42.1% in the first quarter. Reyes Financial Architecture Inc. now owns 770 shares of the construction company's stock worth $79,000 after acquiring an additional 228 shares during the last quarter. Institutional investors own 89.90% of the company's stock.

PulteGroup Price Performance

Shares of NYSE PHM traded down $1.51 during mid-day trading on Friday, reaching $137.15. 1,266,161 shares of the company traded hands, compared to its average volume of 1,902,088. PulteGroup, Inc. has a fifty-two week low of $88.07 and a fifty-two week high of $149.47. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.77 and a quick ratio of 0.77. The firm has a market cap of $27.06 billion, a PE ratio of 10.25, a price-to-earnings-growth ratio of 0.41 and a beta of 1.27. The stock has a fifty day simple moving average of $123.37 and a 200-day simple moving average of $109.25.

PulteGroup (NYSE:PHM - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.03 EPS for the quarter, beating analysts' consensus estimates of $2.92 by $0.11. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. The business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.42 billion. During the same quarter last year, the business earned $3.83 earnings per share. The business's revenue for the quarter was down 4.3% on a year-over-year basis. Equities research analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Tuesday, September 16th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Tuesday, September 16th. PulteGroup's dividend payout ratio (DPR) is currently 6.58%.

Analyst Ratings Changes

A number of equities analysts have issued reports on PHM shares. Citigroup raised their target price on shares of PulteGroup from $128.00 to $132.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada raised their price target on shares of PulteGroup from $109.00 to $112.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 23rd. Seaport Res Ptn upgraded shares of PulteGroup from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 22nd. Oppenheimer raised their price target on shares of PulteGroup from $132.00 to $140.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. Finally, Raymond James Financial restated an "outperform" rating and issued a $140.00 price target (up previously from $115.00) on shares of PulteGroup in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, PulteGroup presently has an average rating of "Moderate Buy" and an average target price of $136.46.

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.