QRG Capital Management Inc. Acquires 21,821 Shares of PulteGroup, Inc. (NYSE:PHM)

QRG Capital Management Inc. boosted its holdings in PulteGroup, Inc. (NYSE:PHM - Free Report) by 5.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 396,403 shares of the construction company's stock after buying an additional 21,821 shares during the period. QRG Capital Management Inc. owned 0.18% of PulteGroup worth $40,917,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of PulteGroup in the 3rd quarter worth about $36,000. Rakuten Securities Inc. purchased a new position in PulteGroup in the fourth quarter valued at approximately $37,000. Lindbrook Capital LLC lifted its position in PulteGroup by 335.6% during the fourth quarter. Lindbrook Capital LLC now owns 379 shares of the construction company's stock valued at $39,000 after buying an additional 292 shares in the last quarter. ORG Partners LLC grew its stake in PulteGroup by 3,463.6% during the fourth quarter. ORG Partners LLC now owns 392 shares of the construction company's stock worth $40,000 after buying an additional 381 shares during the period. Finally, AdvisorNet Financial Inc increased its position in shares of PulteGroup by 91.5% in the fourth quarter. AdvisorNet Financial Inc now owns 427 shares of the construction company's stock worth $44,000 after acquiring an additional 204 shares in the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on PHM. Barclays lifted their target price on shares of PulteGroup from $126.00 to $136.00 and gave the company an "overweight" rating in a report on Thursday, April 4th. Citigroup upped their target price on PulteGroup from $116.00 to $127.00 and gave the stock a "neutral" rating in a research report on Friday, April 5th. Jefferies Financial Group raised their target price on PulteGroup from $126.00 to $131.00 and gave the company a "buy" rating in a report on Wednesday, April 24th. Raymond James reissued an "outperform" rating and set a $135.00 price target (up from $120.00) on shares of PulteGroup in a research report on Thursday, April 25th. Finally, Zelman & Associates raised shares of PulteGroup from a "neutral" rating to an "outperform" rating in a research report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, PulteGroup presently has an average rating of "Moderate Buy" and an average price target of $111.73.

PulteGroup Stock Up 0.6 %

Shares of PHM traded up $0.69 during midday trading on Friday, hitting $117.68. The company had a trading volume of 1,614,469 shares, compared to its average volume of 1,811,371. The stock has a market cap of $24.75 billion, a price-to-earnings ratio of 9.42, a PEG ratio of 0.53 and a beta of 1.56. The company's 50 day moving average price is $113.20 and its 200 day moving average price is $102.62. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.18. PulteGroup, Inc. has a 52 week low of $65.16 and a 52 week high of $121.07.

PulteGroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Tuesday, June 18th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Friday, June 14th. PulteGroup's dividend payout ratio is currently 6.41%.

PulteGroup declared that its board has approved a share repurchase program on Tuesday, January 30th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the construction company to buy up to 6.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

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.