GAMMA Investing LLC Acquires 853 Shares of PulteGroup, Inc. (NYSE:PHM)

GAMMA Investing LLC increased its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 38.9% during the first quarter, HoldingsChannel.com reports. The fund owned 3,043 shares of the construction company’s stock after buying an additional 853 shares during the quarter. GAMMA Investing LLC’s holdings in PulteGroup were worth $313,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Merit Financial Group LLC raised its stake in shares of PulteGroup by 20.5% during the 1st quarter. Merit Financial Group LLC now owns 15,388 shares of the construction company’s stock worth $1,582,000 after purchasing an additional 2,613 shares during the period. Hudson Capital Management LLC raised its position in PulteGroup by 8.6% in the first quarter. Hudson Capital Management LLC now owns 41,305 shares of the construction company’s stock worth $4,246,000 after acquiring an additional 3,266 shares during the period. Vest Financial LLC boosted its stake in PulteGroup by 1,311.3% in the first quarter. Vest Financial LLC now owns 312,723 shares of the construction company’s stock valued at $32,148,000 after acquiring an additional 290,564 shares during the last quarter. NBC Securities Inc. grew its position in shares of PulteGroup by 103,800.0% during the 1st quarter. NBC Securities Inc. now owns 5,195 shares of the construction company’s stock valued at $534,000 after acquiring an additional 5,190 shares during the period. Finally, Wayfinding Financial LLC bought a new position in shares of PulteGroup during the 4th quarter valued at approximately $275,000. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Wall Street Analyst Weigh In

PHM has been the topic of a number of research reports. Barclays lowered their price target on shares of PulteGroup from $100.00 to $98.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 23rd. Wells Fargo & Company decreased their price objective on PulteGroup from $140.00 to $120.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Royal Bank Of Canada lowered their price objective on PulteGroup from $116.00 to $109.00 and set a “sector perform” rating on the stock in a research note on Wednesday, April 23rd. Seaport Res Ptn upgraded shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 6th. Finally, Wedbush reissued an “outperform” rating and issued a $135.00 price target on shares of PulteGroup in a research report on Tuesday, April 22nd. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.69.

PulteGroup Price Performance

PHM stock opened at $111.39 on Thursday. The firm has a 50 day moving average of $102.25 and a 200-day moving average of $104.87. The firm has a market capitalization of $22.33 billion, a P/E ratio of 7.86, a price-to-earnings-growth ratio of 0.32 and a beta of 1.29. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $149.47. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, April 22nd. The construction company reported $2.57 EPS for the quarter, beating the consensus estimate of $2.47 by $0.10. The firm had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.86 billion. PulteGroup had a net margin of 16.45% and a return on equity of 22.86%. During the same period last year, the firm earned $3.10 EPS. As a group, sell-side analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Tuesday, June 17th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.79%. The ex-dividend date was Tuesday, June 17th. PulteGroup’s dividend payout ratio is 6.21%.

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.