Ritholtz Wealth Management Trims Stake in PulteGroup, Inc. (NYSE:PHM)

Ritholtz Wealth Management lowered its stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 36.0% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 47,263 shares of the construction company's stock after selling 26,544 shares during the period. Ritholtz Wealth Management's holdings in PulteGroup were worth $4,859,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in PHM. Franklin Resources Inc. lifted its position in shares of PulteGroup by 6.1% during the 4th 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 in the last quarter. Geode Capital Management LLC lifted its position in shares of PulteGroup by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 5,120,878 shares of the construction company's stock worth $556,465,000 after buying an additional 64,947 shares in the last quarter. Norges Bank bought a new position in shares of PulteGroup during the 4th quarter worth approximately $427,562,000. Northern Trust Corp lifted its position in shares of PulteGroup by 14.9% during the 4th quarter. Northern Trust Corp now owns 2,425,941 shares of the construction company's stock worth $264,185,000 after buying an additional 315,148 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of PulteGroup by 9.1% during the 4th 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 worth $221,478,000 after buying an additional 169,736 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company's stock.

PulteGroup Price Performance

Shares of PHM traded down $2.73 during mid-day trading on Friday, reaching $101.43. 1,597,599 shares of the stock traded hands, compared to its average volume of 2,016,964. PulteGroup, Inc. has a 1 year low of $88.07 and a 1 year high of $149.47. The firm has a fifty day moving average price of $100.04 and a 200 day moving average price of $106.90. The company has a market cap of $20.33 billion, a price-to-earnings ratio of 6.89, a price-to-earnings-growth ratio of 0.29 and a beta of 1.29. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13.

PulteGroup (NYSE:PHM - Get Free Report) last posted its quarterly earnings results 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. The business had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.86 billion. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. During the same period in the previous year, the firm posted $3.10 earnings per share. As a group, equities research analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 17th will be given a dividend of $0.22 per share. 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 is currently 6.21%.

Analyst Ratings Changes

A number of research firms recently commented on PHM. Wells Fargo & Company lowered 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. Royal Bank of Canada lowered 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. Barclays lowered 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. Evercore ISI lifted their price target on shares of PulteGroup from $161.00 to $165.00 and gave the stock an "outperform" rating in a report on Wednesday, April 23rd. Finally, Wedbush reiterated an "outperform" rating and issued a $135.00 price objective on shares of PulteGroup in a research note on Tuesday, April 22nd. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $134.69.

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.