QRG Capital Management Inc. Sells 8,856 Shares of PulteGroup, Inc. (NYSE:PHM)

QRG Capital Management Inc. decreased its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 2.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 386,223 shares of the construction company's stock after selling 8,856 shares during the period. QRG Capital Management Inc. owned about 0.19% of PulteGroup worth $39,704,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Franklin Resources Inc. grew its holdings in shares of PulteGroup by 6.1% in the fourth quarter. Franklin Resources Inc. now owns 11,937,866 shares of the construction company's stock worth $1,300,034,000 after purchasing an additional 683,592 shares during the last quarter. Geode Capital Management LLC boosted its holdings in PulteGroup by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 5,120,878 shares of the construction company's stock valued at $556,465,000 after acquiring an additional 64,947 shares in the last quarter. Norges Bank bought a new stake in PulteGroup in the fourth quarter valued at $427,562,000. Northern Trust Corp boosted its holdings in PulteGroup by 14.9% in the fourth quarter. Northern Trust Corp now owns 2,425,941 shares of the construction company's stock valued at $264,185,000 after acquiring an additional 315,148 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in PulteGroup by 9.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,033,776 shares of the construction company's stock valued at $221,478,000 after acquiring an additional 169,736 shares in the last quarter. Institutional investors own 89.90% of the company's stock.

PulteGroup Price Performance

PHM opened at $101.43 on Monday. The stock has a 50-day moving average price of $100.04 and a 200-day moving average price of $106.69. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market cap of $20.33 billion, a PE ratio of 6.89, a P/E/G ratio of 0.29 and a beta of 1.29. PulteGroup, Inc. has a 1 year low of $88.07 and a 1 year high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The construction company reported $2.57 earnings per share for the quarter, topping analysts' consensus estimates 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 firm earned $3.10 EPS. Sell-side analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PHM. Royal Bank of Canada cut their price target on shares of PulteGroup from $116.00 to $109.00 and set a "sector perform" rating on the stock in a report on Wednesday, April 23rd. Wedbush reiterated an "outperform" rating and issued a $135.00 price target on shares of PulteGroup in a report on Tuesday, April 22nd. Wells Fargo & Company cut their price target on shares of PulteGroup from $140.00 to $120.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. UBS Group cut their price target on shares of PulteGroup from $151.00 to $141.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Finally, Barclays cut their price target on shares of PulteGroup from $100.00 to $98.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 23rd. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, PulteGroup presently has an average rating of "Moderate Buy" and an average target price of $134.69.

PulteGroup Company 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.

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