Rehmann Capital Advisory Group Reduces Position in PulteGroup, Inc. (NYSE:PHM)

Rehmann Capital Advisory Group reduced its position in shares of PulteGroup, Inc. (NYSE:PHM) by 4.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,854 shares of the construction company’s stock after selling 147 shares during the period. Rehmann Capital Advisory Group’s holdings in PulteGroup were worth $344,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of PulteGroup by 2.9% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 65,360 shares of the construction company’s stock valued at $7,884,000 after acquiring an additional 1,821 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in PulteGroup by 27.3% in the first quarter. Daiwa Securities Group Inc. now owns 25,098 shares of the construction company’s stock valued at $3,027,000 after purchasing an additional 5,380 shares during the last quarter. Quent Capital LLC raised its holdings in PulteGroup by 16.1% during the first quarter. Quent Capital LLC now owns 2,808 shares of the construction company’s stock worth $339,000 after purchasing an additional 390 shares in the last quarter. Fidelis Capital Partners LLC lifted its position in shares of PulteGroup by 17.2% during the 1st quarter. Fidelis Capital Partners LLC now owns 3,340 shares of the construction company’s stock worth $403,000 after buying an additional 490 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of PulteGroup by 130.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 388,298 shares of the construction company’s stock valued at $46,837,000 after buying an additional 219,609 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Price Performance

Shares of PHM traded up $5.64 during mid-day trading on Thursday, hitting $112.79. The company’s stock had a trading volume of 539,883 shares, compared to its average volume of 1,763,483. The firm has a 50-day simple moving average of $113.05 and a 200 day simple moving average of $109.87. PulteGroup, Inc. has a 1-year low of $68.80 and a 1-year high of $122.72. The firm has a market capitalization of $23.72 billion, a P/E ratio of 8.58, a P/E/G ratio of 0.47 and a beta of 1.61. 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 issued its earnings results on Tuesday, April 23rd. The construction company reported $2.87 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $3.59 billion. Analysts predict that PulteGroup, Inc. will post 12.64 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 18th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, June 18th. This represents a $0.80 annualized dividend and a yield of 0.71%. PulteGroup’s payout ratio is currently 6.41%.

Analysts Set New Price Targets

PHM has been the subject of a number of research reports. Raymond James reissued an “outperform” rating and issued a $135.00 price target (up from $120.00) on shares of PulteGroup in a research report on Thursday, April 25th. Oppenheimer raised their price target on PulteGroup from $138.00 to $143.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Zelman & Associates upgraded PulteGroup from a “neutral” rating to an “outperform” rating in a research note on Wednesday, April 24th. Citigroup lowered their target price on shares of PulteGroup from $129.00 to $117.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 2nd. Finally, StockNews.com upgraded shares of PulteGroup from a “hold” rating to a “buy” rating in a research report on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, PulteGroup has an average rating of “Moderate Buy” and an average target price of $112.21.

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.