Kestra Advisory Services LLC Increases Position in PulteGroup, Inc. (NYSE:PHM)

Kestra Advisory Services LLC lifted its holdings in shares of PulteGroup, Inc. (NYSE:PHMGet Rating) by 32.9% during the first quarter, Holdings Channel reports. The fund owned 13,305 shares of the construction company’s stock after purchasing an additional 3,295 shares during the quarter. Kestra Advisory Services LLC’s holdings in PulteGroup were worth $557,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PHM. AE Wealth Management LLC bought a new stake in PulteGroup in the fourth quarter valued at about $2,512,000. Kestra Private Wealth Services LLC increased its holdings in PulteGroup by 15.6% in the fourth quarter. Kestra Private Wealth Services LLC now owns 6,683 shares of the construction company’s stock valued at $382,000 after buying an additional 900 shares during the last quarter. Avantax Advisory Services Inc. bought a new stake in PulteGroup in the fourth quarter valued at about $303,000. Ellevest Inc. increased its holdings in PulteGroup by 27.4% in the fourth quarter. Ellevest Inc. now owns 4,674 shares of the construction company’s stock valued at $267,000 after buying an additional 1,004 shares during the last quarter. Finally, National Bank of Canada FI bought a new stake in PulteGroup in the fourth quarter valued at about $370,000. 90.32% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Price Performance

NYSE PHM opened at $44.37 on Thursday. The stock has a market capitalization of $10.54 billion, a P/E ratio of 5.44, a P/E/G ratio of 0.67 and a beta of 1.33. PulteGroup, Inc. has a 1 year low of $35.03 and a 1 year high of $58.09. The business’s fifty day moving average is $42.33 and its two-hundred day moving average is $45.68. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.68 and a current ratio of 0.68.

PulteGroup (NYSE:PHMGet Rating) last announced its earnings results on Thursday, April 28th. The construction company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.13. PulteGroup had a net margin of 14.58% and a return on equity of 27.91%. The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the previous year, the business earned $1.28 EPS. The company’s revenue was up 16.8% on a year-over-year basis. On average, research analysts forecast that PulteGroup, Inc. will post 10.65 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 5th. Shareholders of record on Friday, June 10th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend was Thursday, June 9th. PulteGroup’s dividend payout ratio (DPR) is currently 7.35%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Wedbush lowered their price objective on PulteGroup from $68.00 to $57.00 in a report on Monday, May 2nd. BTIG Research lowered their target price on PulteGroup from $66.00 to $57.00 in a report on Monday, June 6th. Barclays lowered their target price on PulteGroup from $49.00 to $48.00 and set an “equal weight” rating for the company in a report on Thursday, July 14th. UBS Group lowered their target price on PulteGroup from $73.00 to $55.00 and set a “buy” rating for the company in a report on Thursday, June 16th. Finally, The Goldman Sachs Group lowered their target price on PulteGroup from $63.00 to $48.00 and set a “neutral” rating for the company in a report on Tuesday, April 12th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.63.

PulteGroup Company Profile

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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, American West, and John Wieland Homes and Neighborhoods brand names.

See Also

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Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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