QRG Capital Management Inc. Trims Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

QRG Capital Management Inc. trimmed its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 386,223 shares of the construction company's stock after selling 8,856 shares during the quarter. QRG Capital Management Inc. owned approximately 0.19% of PulteGroup worth $39,704,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Ameriflex Group Inc. acquired a new position in PulteGroup in the 4th quarter valued at $37,000. TD Waterhouse Canada Inc. grew its holdings 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 period. American National Bank & Trust purchased a new position in PulteGroup during the 1st quarter valued at about $39,000. Quarry LP purchased a new position in PulteGroup during the 4th quarter valued at about $43,000. Finally, Sentry Investment Management LLC purchased a new position in PulteGroup during the 1st quarter valued at about $61,000. 89.90% of the stock is owned by institutional investors and hedge funds.

PulteGroup Trading Up 0.4%

PulteGroup stock traded up $0.38 during trading on Thursday, hitting $99.10. The company's stock had a trading volume of 1,913,334 shares, compared to its average volume of 2,018,417. The stock has a market capitalization of $19.86 billion, a price-to-earnings ratio of 6.99, a P/E/G ratio of 0.29 and a beta of 1.29. The stock's fifty day moving average is $100.33 and its 200 day moving average is $106.36. 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 quick ratio of 0.80 and a current ratio of 0.80.

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

PulteGroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Tuesday, June 17th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Tuesday, June 17th. PulteGroup's payout ratio is 6.21%.

Analysts Set New Price Targets

A number of research firms have issued reports on PHM. Wells Fargo & Company reduced their price target on PulteGroup from $140.00 to $120.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Seaport Res Ptn upgraded PulteGroup from a "strong sell" rating to a "hold" rating in a research note on Thursday, March 6th. Wedbush reiterated an "outperform" rating and issued a $135.00 target price on shares of PulteGroup in a research note on Tuesday, April 22nd. Evercore ISI lifted their price target on PulteGroup from $161.00 to $165.00 and gave the company an "outperform" rating in a research note on Wednesday, April 23rd. Finally, Royal Bank Of Canada decreased 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. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $134.69.

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.