Retirement Planning Co of New England Inc. Invests $406,000 in PulteGroup, Inc. (NYSE:PHM)

Retirement Planning Co of New England Inc. purchased a new stake in PulteGroup, Inc. (NYSE:PHM - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund purchased 3,950 shares of the construction company's stock, valued at approximately $406,000.

Several other institutional investors also recently bought and sold shares of PHM. Proficio Capital Partners LLC purchased a new position in shares of PulteGroup during the 4th quarter worth about $73,000. HighTower Advisors LLC boosted its holdings in shares of PulteGroup by 3.2% in the 4th quarter. HighTower Advisors LLC now owns 20,508 shares of the construction company's stock valued at $2,233,000 after purchasing an additional 645 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of PulteGroup by 0.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 61,570 shares of the construction company's stock valued at $6,705,000 after purchasing an additional 337 shares during the last quarter. Madison Investment Advisors LLC purchased a new stake in shares of PulteGroup during the 4th quarter valued at $233,000. Finally, Cibc World Markets Corp increased its holdings in shares of PulteGroup by 14.8% during the 4th quarter. Cibc World Markets Corp now owns 32,496 shares of the construction company's stock worth $3,539,000 after buying an additional 4,193 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PHM. Royal Bank Of Canada dropped 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 report on Wednesday, April 23rd. Wedbush restated an "outperform" rating and set a $135.00 price objective on shares of PulteGroup in a research note on Tuesday, April 22nd. Oppenheimer reiterated an "outperform" rating and issued a $132.00 target price (up previously from $125.00) on shares of PulteGroup in a research note on Tuesday. UBS Group dropped their target price on PulteGroup from $151.00 to $141.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company upped their target price on shares of PulteGroup from $120.00 to $125.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $133.69.

PulteGroup Stock Performance

Shares of PulteGroup stock opened at $109.42 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market cap of $21.93 billion, a PE ratio of 7.72, a price-to-earnings-growth ratio of 0.32 and a beta of 1.29. PulteGroup, Inc. has a 1 year low of $88.07 and a 1 year high of $149.47. The firm's 50-day simple moving average is $104.07 and its 200-day simple moving average is $104.83.

PulteGroup (NYSE:PHM - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The construction company reported $2.57 earnings per share for the quarter, beating analysts' consensus estimates of $2.47 by $0.10. PulteGroup had a return on equity of 22.86% and a net margin of 16.45%. The business had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.86 billion. During the same period in the previous year, the business earned $3.10 EPS. Equities analysts forecast 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 was paid on Wednesday, July 2nd. Investors of record on Tuesday, June 17th were paid a dividend of $0.22 per share. The ex-dividend date was Tuesday, June 17th. This represents a $0.88 annualized dividend and a yield of 0.80%. PulteGroup's dividend payout ratio (DPR) is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.