Wealthcare Advisory Partners LLC Invests $266,000 in PulteGroup, Inc. $PHM

Key Points

• Wealthcare Advisory Partners LLC has invested $266,000 in PulteGroup, Inc., acquiring 2,518 shares as part of its portfolio diversification strategy.
• PulteGroup reported a quarterly earnings per share of $3.03, surpassing analysts' expectations, but its revenue fell by 4.3% year-over-year to $4.40 billion.
• Institutional investors hold 89.90% of PulteGroup's stock, with various funds recently increasing their positions in the company.

Wealthcare Advisory Partners LLC bought a new position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,518 shares of the construction company's stock, valued at approximately $266,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Clarius Group LLC raised its position in shares of PulteGroup by 4.0% during the second quarter. Clarius Group LLC now owns 13,841 shares of the construction company's stock worth $1,460,000 after acquiring an additional 531 shares during the last quarter. QRG Capital Management Inc. raised its position in shares of PulteGroup by 2.6% during the second quarter. QRG Capital Management Inc. now owns 396,126 shares of the construction company's stock worth $41,775,000 after acquiring an additional 9,903 shares during the last quarter. Ascent Group LLC raised its position in shares of PulteGroup by 26.0% during the second quarter. Ascent Group LLC now owns 7,310 shares of the construction company's stock worth $771,000 after acquiring an additional 1,509 shares during the last quarter. Ameritas Advisory Services LLC raised its position in shares of PulteGroup by 27.0% during the second quarter. Ameritas Advisory Services LLC now owns 9,802 shares of the construction company's stock worth $1,034,000 after acquiring an additional 2,082 shares during the last quarter. Finally, River Street Advisors LLC raised its position in shares of PulteGroup by 10.0% during the second quarter. River Street Advisors LLC now owns 8,686 shares of the construction company's stock worth $916,000 after acquiring an additional 788 shares during the last quarter. Institutional investors own 89.90% of the company's stock.

PulteGroup Stock Down 1.2%

PHM stock opened at $119.92 on Friday. 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 stock has a market capitalization of $23.66 billion, a P/E ratio of 8.96, a P/E/G ratio of 0.36 and a beta of 1.29. The business has a 50-day moving average of $130.52 and a 200-day moving average of $112.93. PulteGroup, Inc. has a fifty-two week low of $88.07 and a fifty-two week high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.03 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.11. The company had revenue of $4.40 billion during the quarter, compared to analysts' expectations of $4.42 billion. PulteGroup had a return on equity of 21.01% and a net margin of 15.50%.PulteGroup's revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.83 earnings per share. On average, sell-side analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Tuesday, September 16th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $0.88 annualized dividend and a yield of 0.7%. PulteGroup's dividend payout ratio is 6.58%.

Analysts Set New Price Targets

PHM has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on PulteGroup from $121.00 to $123.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Wells Fargo & Company lifted their price objective on PulteGroup from $135.00 to $150.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 2nd. Evercore ISI set a $154.00 price objective on PulteGroup and gave the stock an "in-line" rating in a research note on Tuesday. Bank of America decreased their price objective on PulteGroup from $145.00 to $140.00 and set a "buy" rating for the company in a research note on Friday. Finally, Seaport Res Ptn raised PulteGroup from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, PulteGroup presently has a consensus rating of "Moderate Buy" and a consensus price target of $136.92.

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.

Want to see what other hedge funds are holding PHM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PulteGroup, Inc. (NYSE:PHM - Free Report).

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.