PulteGroup, Inc. (NYSE:PHM) Shares Bought by FCG Investment Co

FCG Investment Co raised its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 86.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,139 shares of the construction company’s stock after purchasing an additional 2,381 shares during the quarter. FCG Investment Co’s holdings in PulteGroup were worth $620,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PHM. First Trust Direct Indexing L.P. increased its position in shares of PulteGroup by 2.1% in the 1st quarter. First Trust Direct Indexing L.P. now owns 7,502 shares of the construction company’s stock valued at $905,000 after acquiring an additional 152 shares during the period. Norden Group LLC acquired a new position in shares of PulteGroup in the first quarter valued at about $1,040,000. Denali Advisors LLC increased its holdings in shares of PulteGroup by 10.6% in the first quarter. Denali Advisors LLC now owns 2,109 shares of the construction company’s stock valued at $254,000 after purchasing an additional 202 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of PulteGroup by 4.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 621,064 shares of the construction company’s stock worth $74,913,000 after purchasing an additional 28,774 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of PulteGroup by 40.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 733,804 shares of the construction company’s stock worth $88,511,000 after purchasing an additional 212,837 shares during the period. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Price Performance

PulteGroup stock traded up $0.54 during trading on Thursday, reaching $105.06. The company had a trading volume of 1,180,686 shares, compared to its average volume of 1,764,149. The firm has a market capitalization of $22.10 billion, a PE ratio of 8.41, a price-to-earnings-growth ratio of 0.47 and a beta of 1.61. The firm’s 50-day simple moving average is $113.78 and its 200 day simple moving average is $109.77. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.85. PulteGroup, Inc. has a 1-year low of $68.80 and a 1-year high of $122.72.

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

PulteGroup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 18th were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, June 18th. This represents a $0.80 annualized dividend and a dividend yield of 0.76%. PulteGroup’s dividend payout ratio (DPR) is presently 6.41%.

Analyst Ratings Changes

PHM has been the topic of several research reports. Royal Bank of Canada increased their price target on shares of PulteGroup from $106.00 to $113.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 24th. Oppenheimer upped their price target on shares of PulteGroup from $138.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Raymond James reiterated an “outperform” rating and set a $135.00 price objective (up previously from $120.00) on shares of PulteGroup in a research note on Thursday, April 25th. Jefferies Financial Group boosted their price objective on PulteGroup from $126.00 to $131.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, Zelman & Associates raised PulteGroup from a “neutral” rating to an “outperform” rating in a report on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $112.21.

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.