SpiderRock Advisors LLC Takes $291,000 Position in PulteGroup, Inc. (NYSE:PHM)

SpiderRock Advisors LLC acquired a new position in shares of PulteGroup, Inc. (NYSE:PHM) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,641 shares of the construction company’s stock, valued at approximately $291,000.

A number of other institutional investors also recently bought and sold shares of PHM. Stifel Financial Corp grew its stake in shares of PulteGroup by 50.0% during the 3rd quarter. Stifel Financial Corp now owns 52,692 shares of the construction company’s stock valued at $3,902,000 after buying an additional 17,569 shares during the period. Bank of Nova Scotia grew its stake in PulteGroup by 14.9% during the third quarter. Bank of Nova Scotia now owns 20,398 shares of the construction company’s stock worth $1,510,000 after buying an additional 2,638 shares during the period. Glenmede Trust Co. NA raised its stake in shares of PulteGroup by 149.2% in the 3rd quarter. Glenmede Trust Co. NA now owns 49,465 shares of the construction company’s stock valued at $3,663,000 after acquiring an additional 29,613 shares during the period. EHP Funds Inc. purchased a new stake in shares of PulteGroup in the third quarter worth about $259,000. Finally, Lido Advisors LLC purchased a new position in shares of PulteGroup in the third quarter valued at $441,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PHM has been the topic of a number of research analyst reports. StockNews.com upgraded shares of PulteGroup from a “hold” rating to a “buy” rating in a research note on Wednesday, April 24th. Raymond James reiterated an “outperform” rating and issued a $135.00 price target (up from $120.00) on shares of PulteGroup in a report on Thursday, April 25th. Citigroup lowered their target price on shares of PulteGroup from $129.00 to $117.00 and set a “neutral” rating for the company in a research note on Tuesday. Jefferies Financial Group boosted their price objective on shares of PulteGroup from $126.00 to $131.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, Barclays raised their target price on shares of PulteGroup from $126.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, PulteGroup currently has an average rating of “Moderate Buy” and an average target price of $112.21.

PulteGroup Trading Down 1.4 %

Shares of NYSE:PHM traded down $1.45 during trading on Friday, hitting $103.61. 692,659 shares of the company’s stock were exchanged, compared to its average volume of 1,771,050. The firm has a 50-day moving average price of $113.66 and a two-hundred day moving average price of $109.74. The firm has a market cap of $21.79 billion, a P/E ratio of 8.28, a PEG ratio of 0.47 and a beta of 1.61. PulteGroup, Inc. has a 1-year low of $68.80 and a 1-year high of $122.72. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18.

PulteGroup (NYSE:PHM) last announced 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 firm had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.59 billion. Equities analysts predict that PulteGroup, Inc. will post 12.64 earnings per share for the current year.

PulteGroup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 18th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend was Tuesday, June 18th. PulteGroup’s dividend payout ratio is 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.