QRG Capital Management Inc. Has $41.78 Million Holdings in PulteGroup, Inc. $PHM

QRG Capital Management Inc. boosted its position in shares of PulteGroup, Inc. (NYSE:PHM) by 2.6% in the second quarter, Holdings Channel.com reports. The firm owned 396,126 shares of the construction company’s stock after acquiring an additional 9,903 shares during the period. QRG Capital Management Inc.’s holdings in PulteGroup were worth $41,775,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Cooper Financial Group grew its holdings in shares of PulteGroup by 1.4% during the second quarter. Cooper Financial Group now owns 6,697 shares of the construction company’s stock worth $706,000 after buying an additional 92 shares in the last quarter. Tocqueville Asset Management L.P. boosted its position in PulteGroup by 2.0% during the 1st quarter. Tocqueville Asset Management L.P. now owns 5,062 shares of the construction company’s stock worth $520,000 after acquiring an additional 100 shares during the last quarter. Ballentine Partners LLC grew its stake in shares of PulteGroup by 3.2% during the 2nd quarter. Ballentine Partners LLC now owns 3,630 shares of the construction company’s stock worth $383,000 after acquiring an additional 112 shares in the last quarter. Golden State Wealth Management LLC grew its stake in shares of PulteGroup by 15.9% during the 1st quarter. Golden State Wealth Management LLC now owns 909 shares of the construction company’s stock worth $93,000 after acquiring an additional 125 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in shares of PulteGroup by 1.9% in the first quarter. Signaturefd LLC now owns 6,644 shares of the construction company’s stock valued at $683,000 after purchasing an additional 127 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Stock Up 2.1%

Shares of PHM stock opened at $137.70 on Friday. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $149.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a market cap of $27.17 billion, a price-to-earnings ratio of 10.29, a PEG ratio of 0.40 and a beta of 1.29. The firm’s 50-day moving average is $129.39 and its 200-day moving average is $112.18.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, July 22nd. The construction company reported $3.03 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $0.11. PulteGroup had a return on equity of 21.01% and a net margin of 15.50%.The firm had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.42 billion. During the same quarter in the previous year, the business earned $3.83 earnings per share. The business’s revenue was down 4.3% compared to the same quarter last year. Sell-side analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 16th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Tuesday, September 16th. PulteGroup’s payout ratio is currently 6.58%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Wedbush reaffirmed an “outperform” rating and issued a $150.00 target price on shares of PulteGroup in a research report on Wednesday, August 13th. Seaport Res Ptn upgraded shares of PulteGroup from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 22nd. UBS Group lifted their target price on PulteGroup from $141.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Citigroup upped their target price on PulteGroup from $132.00 to $143.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. raised their price target on PulteGroup from $121.00 to $123.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $137.31.

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.