PulteGroup, Inc. (NYSE:PHM) Shares Purchased by Lazard Asset Management LLC

Lazard Asset Management LLC raised its position in shares of PulteGroup, Inc. (NYSE:PHM) by 1.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 464,217 shares of the construction company’s stock after purchasing an additional 5,022 shares during the period. Lazard Asset Management LLC owned 0.22% of PulteGroup worth $55,993,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PHM. HB Wealth Management LLC acquired a new position in PulteGroup during the 4th quarter valued at about $247,000. Raymond James & Associates raised its position in shares of PulteGroup by 0.3% during the 4th quarter. Raymond James & Associates now owns 289,153 shares of the construction company’s stock worth $29,846,000 after buying an additional 859 shares in the last quarter. CVA Family Office LLC bought a new stake in shares of PulteGroup during the 4th quarter worth about $59,000. Raymond James Financial Services Advisors Inc. raised its position in shares of PulteGroup by 2.8% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 45,621 shares of the construction company’s stock worth $4,709,000 after buying an additional 1,243 shares in the last quarter. Finally, Ritholtz Wealth Management raised its position in shares of PulteGroup by 18.8% during the 4th quarter. Ritholtz Wealth Management now owns 29,205 shares of the construction company’s stock worth $3,014,000 after buying an additional 4,612 shares in the last quarter. 89.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of PulteGroup from $141.00 to $152.00 and gave the stock an “overweight” rating in a research report on Thursday. Barclays boosted their price target on shares of PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday. Zelman & Associates upgraded shares of PulteGroup from a “neutral” rating to an “outperform” rating in a research report on Wednesday, April 24th. BTIG Research boosted their price target on shares of PulteGroup from $133.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Royal Bank of Canada boosted their target price on shares of PulteGroup from $113.00 to $120.00 and gave the stock a “sector perform” rating in a report on Wednesday. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $133.14.

PulteGroup Trading Up 4.0 %

Shares of PHM stock traded up $4.99 during trading hours on Friday, reaching $129.99. 2,541,442 shares of the stock traded hands, compared to its average volume of 2,269,473. PulteGroup, Inc. has a 1-year low of $68.80 and a 1-year high of $130.93. The business has a fifty day moving average price of $114.31 and a 200 day moving average price of $111.56. The company has a quick ratio of 0.85, a current ratio of 0.76 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $26.98 billion, a PE ratio of 10.41, a PEG ratio of 0.54 and a beta of 1.61.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, July 23rd. The construction company reported $3.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.56. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. The business had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.49 billion. During the same quarter in the previous year, the business earned $3.00 earnings per share. The firm’s revenue was up 9.8% compared to the same quarter last year. On average, equities research analysts forecast that PulteGroup, Inc. will post 12.81 EPS for the current year.

PulteGroup Dividend Announcement

The business also recently disclosed 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. This represents a $0.80 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date was Tuesday, June 18th. PulteGroup’s payout ratio is presently 6.41%.

PulteGroup Company 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.