Wealthcare Advisory Partners LLC Invests $266,000 in PulteGroup, Inc. $PHM

Wealthcare Advisory Partners LLC bought a new position in shares of PulteGroup, Inc. (NYSE:PHM) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,518 shares of the construction company’s stock, valued at approximately $266,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Clarius Group LLC raised its position in shares of PulteGroup by 4.0% during the second quarter. Clarius Group LLC now owns 13,841 shares of the construction company’s stock worth $1,460,000 after acquiring an additional 531 shares during the last quarter. QRG Capital Management Inc. raised its position in shares of PulteGroup by 2.6% during the second quarter. QRG Capital Management Inc. now owns 396,126 shares of the construction company’s stock worth $41,775,000 after acquiring an additional 9,903 shares during the last quarter. Ascent Group LLC raised its position in shares of PulteGroup by 26.0% during the second quarter. Ascent Group LLC now owns 7,310 shares of the construction company’s stock worth $771,000 after acquiring an additional 1,509 shares during the last quarter. Ameritas Advisory Services LLC raised its position in shares of PulteGroup by 27.0% during the second quarter. Ameritas Advisory Services LLC now owns 9,802 shares of the construction company’s stock worth $1,034,000 after acquiring an additional 2,082 shares during the last quarter. Finally, River Street Advisors LLC raised its position in shares of PulteGroup by 10.0% during the second quarter. River Street Advisors LLC now owns 8,686 shares of the construction company’s stock worth $916,000 after acquiring an additional 788 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Down 1.2%

PHM stock opened at $119.92 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a market capitalization of $23.66 billion, a P/E ratio of 8.96, a P/E/G ratio of 0.36 and a beta of 1.29. The business has a 50-day moving average of $130.52 and a 200-day moving average of $112.93. PulteGroup, Inc. has a fifty-two week low of $88.07 and a fifty-two week high of $149.47.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.03 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.11. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.42 billion. PulteGroup had a return on equity of 21.01% and a net margin of 15.50%.PulteGroup’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.83 earnings per share. On average, sell-side analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Tuesday, September 16th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $0.88 annualized dividend and a yield of 0.7%. PulteGroup’s dividend payout ratio is 6.58%.

Analysts Set New Price Targets

PHM has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on PulteGroup from $121.00 to $123.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Wells Fargo & Company lifted their price objective on PulteGroup from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 2nd. Evercore ISI set a $154.00 price objective on PulteGroup and gave the stock an “in-line” rating in a research note on Tuesday. Bank of America decreased their price objective on PulteGroup from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Friday. Finally, Seaport Res Ptn raised PulteGroup from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, PulteGroup presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.92.

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.