PulteGroup, Inc. (NYSE:PHM) Shares Acquired by Park Place Capital Corp

Park Place Capital Corp boosted its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 1,129.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,017 shares of the construction company’s stock after purchasing an additional 1,853 shares during the period. Park Place Capital Corp’s holdings in PulteGroup were worth $243,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. LVW Advisors LLC purchased a new stake in shares of PulteGroup in the 1st quarter valued at approximately $260,000. Red Door Wealth Management LLC purchased a new stake in shares of PulteGroup in the 1st quarter valued at approximately $219,000. River Street Advisors LLC lifted its position in shares of PulteGroup by 4.9% in the 1st quarter. River Street Advisors LLC now owns 6,207 shares of the construction company’s stock valued at $749,000 after acquiring an additional 289 shares in the last quarter. Vicus Capital purchased a new stake in shares of PulteGroup in the 1st quarter valued at approximately $203,000. Finally, Trivant Custom Portfolio Group LLC purchased a new stake in shares of PulteGroup in the 1st quarter valued at approximately $1,622,000. 89.90% of the stock is owned by institutional investors and hedge funds.

PulteGroup Stock Performance

NYSE:PHM traded down $3.87 during midday trading on Monday, reaching $106.23. The stock had a trading volume of 2,033,140 shares, compared to its average volume of 1,777,856. PulteGroup, Inc. has a 1-year low of $68.80 and a 1-year high of $122.72. The firm’s fifty day simple moving average is $114.11 and its 200-day simple moving average is $109.78. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $22.34 billion, a P/E ratio of 8.51, a PEG ratio of 0.49 and a beta of 1.59.

PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, April 23rd. The construction company reported $2.87 earnings per share (EPS) 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 business had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.59 billion. On average, equities research analysts forecast that PulteGroup, Inc. will post 12.64 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Tuesday, June 18th will be paid a $0.20 dividend. The ex-dividend date is Tuesday, June 18th. This represents a $0.80 dividend on an annualized basis and a yield of 0.75%. PulteGroup’s payout ratio is presently 6.41%.

Wall Street Analysts Forecast Growth

PHM has been the subject of several research analyst reports. Oppenheimer upped their price target on shares of PulteGroup from $138.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Citigroup increased their target price on shares of PulteGroup from $127.00 to $129.00 and gave the stock a “neutral” rating in a research report on Friday, May 17th. Barclays increased their target price on shares of PulteGroup from $126.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. StockNews.com upgraded shares of PulteGroup from a “hold” rating to a “buy” rating in a research report on Wednesday, April 24th. Finally, Raymond James reiterated an “outperform” rating and issued a $135.00 target price (up previously from $120.00) on shares of PulteGroup in a research report on Thursday, April 25th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $113.07.

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.