PulteGroup, Inc. $PHM Shares Purchased by Wealthfront Advisers LLC

Wealthfront Advisers LLC boosted its stake in PulteGroup, Inc. (NYSE:PHM) by 3.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 98,023 shares of the construction company’s stock after purchasing an additional 3,490 shares during the period. Wealthfront Advisers LLC’s holdings in PulteGroup were worth $10,338,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. WPG Advisers LLC acquired a new stake in PulteGroup in the 1st quarter valued at approximately $25,000. Hager Investment Management Services LLC increased its holdings in PulteGroup by 33.3% in the 2nd quarter. Hager Investment Management Services LLC now owns 420 shares of the construction company’s stock valued at $44,000 after purchasing an additional 105 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new stake in PulteGroup in the 1st quarter valued at approximately $54,000. REAP Financial Group LLC increased its holdings in PulteGroup by 188.1% in the 2nd quarter. REAP Financial Group LLC now owns 533 shares of the construction company’s stock valued at $56,000 after purchasing an additional 348 shares during the last quarter. Finally, Quarry LP increased its holdings in PulteGroup by 43.8% in the 1st quarter. Quarry LP now owns 571 shares of the construction company’s stock valued at $59,000 after purchasing an additional 174 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Wells Fargo & Company boosted their price target on shares of PulteGroup from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 2nd. Oppenheimer boosted their price target on shares of PulteGroup from $132.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 23rd. Weiss Ratings upgraded shares of PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday. Citigroup boosted their price target on shares of PulteGroup from $132.00 to $143.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 1st. Finally, Royal Bank Of Canada boosted their price target on shares of PulteGroup from $109.00 to $112.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $133.67.

PulteGroup Price Performance

PulteGroup stock opened at $120.60 on Monday. The stock has a market cap of $23.51 billion, a P/E ratio of 9.28, a price-to-earnings-growth ratio of 0.96 and a beta of 1.29. The company has a fifty day simple moving average of $130.35 and a 200-day simple moving average of $114.71. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-month high of $142.11. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.13.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, October 21st. The construction company reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.10. The business had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.31 billion. PulteGroup had a net margin of 14.93% and a return on equity of 19.58%. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the company earned $3.35 EPS. Equities analysts expect that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 16th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 16th. PulteGroup’s payout ratio is 6.77%.

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.