Moran Wealth Management LLC Trims Holdings in PulteGroup, Inc. (NYSE:PHM)

Moran Wealth Management LLC cut its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 4.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 134,878 shares of the construction company's stock after selling 6,618 shares during the period. Moran Wealth Management LLC owned approximately 0.06% of PulteGroup worth $13,922,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Greenhaven Associates Inc. boosted its holdings in PulteGroup by 0.4% in the 4th quarter. Greenhaven Associates Inc. now owns 5,726,368 shares of the construction company's stock worth $591,076,000 after buying an additional 24,350 shares during the last quarter. FMR LLC lifted its stake in PulteGroup by 1.8% in the 3rd quarter. FMR LLC now owns 5,484,469 shares of the construction company's stock worth $406,125,000 after purchasing an additional 95,945 shares in the last quarter. Invesco Ltd. lifted its stake in PulteGroup by 13.3% in the 3rd quarter. Invesco Ltd. now owns 4,432,965 shares of the construction company's stock worth $328,261,000 after purchasing an additional 522,032 shares in the last quarter. Morgan Stanley lifted its stake in PulteGroup by 2.0% in the 3rd quarter. Morgan Stanley now owns 3,115,877 shares of the construction company's stock worth $230,731,000 after purchasing an additional 61,953 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its stake in PulteGroup by 54.6% in the 4th quarter. Pacer Advisors Inc. now owns 3,003,713 shares of the construction company's stock worth $310,043,000 after purchasing an additional 1,060,466 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on PHM shares. Oppenheimer raised their target price on shares of PulteGroup from $138.00 to $143.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 24th. Zelman & Associates raised shares of PulteGroup from a "neutral" rating to an "outperform" rating in a research note on Wednesday, April 24th. Barclays raised their target price on shares of PulteGroup from $126.00 to $136.00 and gave the stock an "overweight" rating in a research note on Thursday, April 4th. Royal Bank of Canada lifted their price target on shares of PulteGroup from $106.00 to $113.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 24th. Finally, StockNews.com raised shares of PulteGroup from a "hold" rating to a "buy" rating in a research report on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $111.73.

PulteGroup Trading Down 0.2 %

PulteGroup stock traded down $0.28 during trading on Tuesday, hitting $116.10. The company had a trading volume of 1,351,893 shares, compared to its average volume of 1,786,434. PulteGroup, Inc. has a 1-year low of $65.16 and a 1-year high of $121.07. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18. The company's 50 day simple moving average is $113.31 and its 200-day simple moving average is $103.15. The stock has a market cap of $24.42 billion, a price-to-earnings ratio of 9.33, a price-to-earnings-growth ratio of 0.53 and a beta of 1.56.

PulteGroup (NYSE:PHM - Get Free Report) last posted its earnings results on Tuesday, April 23rd. The construction company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.51. PulteGroup had a net margin of 16.63% and a return on equity of 25.81%. The firm had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.59 billion. As a group, analysts expect that PulteGroup, Inc. will post 12.64 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 18th will be paid a $0.20 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.80 annualized dividend and a dividend yield of 0.69%. PulteGroup's dividend payout ratio (DPR) is 6.41%.

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

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.