Wealthfront Advisers LLC Purchases 4,850 Shares of PulteGroup, Inc. (NYSE:PHM)

Wealthfront Advisers LLC lifted its position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 5.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,533 shares of the construction company's stock after buying an additional 4,850 shares during the period. Wealthfront Advisers LLC's holdings in PulteGroup were worth $9,718,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Norges Bank bought a new stake in PulteGroup during the fourth quarter worth $427,562,000. Franklin Resources Inc. lifted its stake in PulteGroup by 6.1% in the 4th quarter. Franklin Resources Inc. now owns 11,937,866 shares of the construction company's stock valued at $1,300,034,000 after purchasing an additional 683,592 shares during the last quarter. Man Group plc grew its stake in shares of PulteGroup by 136.8% during the fourth quarter. Man Group plc now owns 988,963 shares of the construction company's stock worth $107,698,000 after buying an additional 571,251 shares during the last quarter. Voloridge Investment Management LLC acquired a new position in shares of PulteGroup during the fourth quarter worth $47,133,000. Finally, Bridgewater Associates LP lifted its stake in shares of PulteGroup by 118.8% in the 4th quarter. Bridgewater Associates LP now owns 783,581 shares of the construction company's stock valued at $85,332,000 after acquiring an additional 425,492 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Stock Up 0.5%

NYSE:PHM traded up $0.50 during trading hours on Thursday, reaching $109.79. 1,118,013 shares of the company traded hands, compared to its average volume of 2,041,014. PulteGroup, Inc. has a 1 year low of $88.07 and a 1 year high of $149.47. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The business's 50-day moving average price is $103.95 and its two-hundred day moving average price is $104.83. The stock has a market capitalization of $22.01 billion, a P/E ratio of 7.74, a P/E/G ratio of 0.31 and a beta of 1.29.

PulteGroup (NYSE:PHM - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The construction company reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.10. PulteGroup had a net margin of 16.45% and a return on equity of 22.86%. The business had revenue of $3.89 billion for the quarter, compared to analysts' expectations of $3.86 billion. During the same quarter in the prior year, the business earned $3.10 EPS. Analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Tuesday, June 17th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.80%. PulteGroup's payout ratio is currently 6.21%.

Analysts Set New Price Targets

Several research firms have recently weighed in on PHM. Barclays lowered their price objective on PulteGroup from $100.00 to $98.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 23rd. UBS Group dropped their price target on PulteGroup from $151.00 to $141.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Wells Fargo & Company raised their price objective on shares of PulteGroup from $120.00 to $125.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Evercore ISI increased their target price on shares of PulteGroup from $161.00 to $165.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 23rd. Finally, Wedbush reaffirmed an "outperform" rating and issued a $135.00 price target 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $133.69.

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.