TIAA Trust National Association Buys New Shares in PulteGroup, Inc. (NYSE:PHM)

TIAA Trust National Association purchased a new position in PulteGroup, Inc. (NYSE:PHM) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 94,935 shares of the construction company’s stock, valued at approximately $11,451,000.

Several other hedge funds also recently made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. bought a new position in PulteGroup during the 1st quarter valued at approximately $26,000. Benjamin Edwards Inc. bought a new position in shares of PulteGroup during the first quarter valued at approximately $26,000. Rakuten Securities Inc. purchased a new stake in PulteGroup in the fourth quarter worth $37,000. Lindbrook Capital LLC boosted its holdings in PulteGroup by 335.6% in the fourth quarter. Lindbrook Capital LLC now owns 379 shares of the construction company’s stock valued at $39,000 after acquiring an additional 292 shares in the last quarter. Finally, ORG Partners LLC increased its position in PulteGroup by 3,463.6% during the 4th quarter. ORG Partners LLC now owns 392 shares of the construction company’s stock valued at $40,000 after purchasing an additional 381 shares during the period. 89.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Oppenheimer lifted their target price on shares of PulteGroup from $138.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Royal Bank of Canada upped their target price on PulteGroup from $106.00 to $113.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 24th. Evercore ISI raised their target price on PulteGroup from $183.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Barclays reduced their price target on PulteGroup from $136.00 to $131.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Finally, StockNews.com raised 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 ten have assigned a buy rating to the stock. According to data from MarketBeat, PulteGroup presently has a consensus rating of “Moderate Buy” and an average target price of $117.00.

PulteGroup Stock Down 0.0 %

PulteGroup stock traded down $0.04 during trading hours on Friday, hitting $124.76. The stock had a trading volume of 2,098,768 shares, compared to its average volume of 2,045,855. The stock’s 50-day moving average price is $113.58 and its 200-day moving average price is $110.72. The stock has a market capitalization of $26.24 billion, a P/E ratio of 9.99, a price-to-earnings-growth ratio of 0.56 and a beta of 1.61. PulteGroup, Inc. has a 12-month low of $68.80 and a 12-month high of $129.85. 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 (NYSE:PHM) last announced its quarterly earnings data on Tuesday, April 23rd. The construction company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.51. PulteGroup had a net margin of 16.63% and a return on equity of 25.81%. The company had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.59 billion. Equities research analysts anticipate that PulteGroup, Inc. will post 12.64 EPS for the current fiscal year.

PulteGroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 18th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend was Tuesday, June 18th. PulteGroup’s payout ratio is currently 6.41%.

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.