Monument Capital Management Has $5.09 Million Position in PulteGroup, Inc. (NYSE:PHM)

Monument Capital Management lowered its position in PulteGroup, Inc. (NYSE:PHM) by 1.2% in the first quarter, HoldingsChannel.com reports. The fund owned 42,230 shares of the construction company’s stock after selling 533 shares during the quarter. PulteGroup accounts for approximately 1.5% of Monument Capital Management’s portfolio, making the stock its 12th biggest holding. Monument Capital Management’s holdings in PulteGroup were worth $5,094,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Sumitomo Mitsui Trust Holdings Inc. raised its position 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 valued at $74,913,000 after purchasing an additional 28,774 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of PulteGroup by 40.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 733,804 shares of the construction company’s stock valued at $88,511,000 after purchasing an additional 212,837 shares during the period. Park Place Capital Corp increased its position in PulteGroup by 1,129.9% during the first quarter. Park Place Capital Corp now owns 2,017 shares of the construction company’s stock worth $243,000 after acquiring an additional 1,853 shares during the period. LVW Advisors LLC bought a new position in PulteGroup during the first quarter worth about $260,000. Finally, Red Door Wealth Management LLC bought a new position in PulteGroup during the first quarter worth about $219,000. 89.90% of the stock is owned by institutional investors.

PulteGroup Price Performance

Shares of PHM traded up $0.76 during mid-day trading on Wednesday, reaching $105.28. The company had a trading volume of 508,712 shares, compared to its average volume of 1,774,251. The company’s 50 day simple moving average is $113.93 and its 200 day simple moving average is $109.81. PulteGroup, Inc. has a 1-year low of $68.80 and a 1-year high of $122.72. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $22.14 billion, a price-to-earnings ratio of 8.37, a P/E/G ratio of 0.49 and a beta of 1.61.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, April 23rd. The construction company reported $2.87 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $3.59 billion. Analysts expect that PulteGroup, Inc. will post 12.64 EPS for the current year.

PulteGroup Announces Dividend

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

Analyst Ratings Changes

PHM has been the topic of a number of recent research reports. Royal Bank of Canada raised their price target on shares of PulteGroup from $106.00 to $113.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 24th. Oppenheimer raised their price target on shares of PulteGroup from $138.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Citigroup decreased their target price on shares of PulteGroup from $129.00 to $117.00 and set a “neutral” rating on the stock in a report on Tuesday. Jefferies Financial Group raised their target price on shares of PulteGroup from $126.00 to $131.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, Barclays raised their target price on shares of PulteGroup from $126.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $112.21.

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.