New Mexico Educational Retirement Board increased its stake in shares of PulteGroup, Inc. (NYSE:PHM – Free Report) by 3.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,938 shares of the construction company’s stock after purchasing an additional 400 shares during the period. New Mexico Educational Retirement Board’s holdings in PulteGroup were worth $850,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in PHM. CVA Family Office LLC grew its stake in shares of PulteGroup by 222.9% during the fourth quarter. CVA Family Office LLC now owns 565 shares of the construction company’s stock worth $26,000 after purchasing an additional 390 shares during the period. Arlington Partners LLC bought a new position in PulteGroup during the first quarter worth about $26,000. Clear Street Markets LLC lifted its holdings in PulteGroup by 90.9% during the first quarter. Clear Street Markets LLC now owns 441 shares of the construction company’s stock worth $26,000 after acquiring an additional 210 shares in the last quarter. Coppell Advisory Solutions Corp. bought a new position in PulteGroup during the fourth quarter worth about $26,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in shares of PulteGroup in the first quarter valued at about $28,000. 89.84% of the stock is owned by institutional investors and hedge funds.
PulteGroup Price Performance
PulteGroup stock opened at $73.23 on Tuesday. PulteGroup, Inc. has a 12 month low of $35.99 and a 12 month high of $86.15. The stock’s 50 day moving average is $79.90 and its 200-day moving average is $72.37. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $16.07 billion, a price-to-earnings ratio of 6.05, a PEG ratio of 0.60 and a beta of 1.40.
PulteGroup Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Monday, September 18th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Friday, September 15th. PulteGroup’s dividend payout ratio (DPR) is currently 5.29%.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on PHM. Royal Bank of Canada boosted their price target on PulteGroup from $68.00 to $90.00 in a report on Wednesday, July 26th. Raymond James boosted their price target on PulteGroup from $93.00 to $105.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Barclays upped their target price on PulteGroup from $90.00 to $104.00 in a report on Wednesday, July 26th. UBS Group upped their target price on PulteGroup from $81.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, July 25th. Finally, Credit Suisse Group upped their target price on PulteGroup from $71.00 to $85.00 in a report on Wednesday, July 26th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $86.27.
Check Out Our Latest Report on PHM
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, American West, and John Wieland Homes and Neighborhoods brand names.
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