State of Alaska Department of Revenue Purchases 345 Shares of PulteGroup, Inc. (NYSE:PHM)

State of Alaska Department of Revenue grew its position in PulteGroup, Inc. (NYSE:PHM) by 1.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,726 shares of the construction company’s stock after purchasing an additional 345 shares during the period. State of Alaska Department of Revenue’s holdings in PulteGroup were worth $2,439,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Atria Wealth Solutions Inc. lifted its holdings in PulteGroup by 31.4% during the fourth quarter. Atria Wealth Solutions Inc. now owns 13,000 shares of the construction company’s stock worth $1,417,000 after acquiring an additional 3,105 shares in the last quarter. Global Retirement Partners LLC raised its position in shares of PulteGroup by 18.7% during the fourth quarter. Global Retirement Partners LLC now owns 3,242 shares of the construction company’s stock worth $353,000 after purchasing an additional 510 shares during the period. Concurrent Investment Advisors LLC lifted its holdings in shares of PulteGroup by 21.0% during the 4th quarter. Concurrent Investment Advisors LLC now owns 4,381 shares of the construction company’s stock valued at $477,000 after purchasing an additional 760 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of PulteGroup in the 4th quarter valued at approximately $3,186,000. Finally, Colonial River Investments LLC increased its stake in PulteGroup by 5.5% during the 4th quarter. Colonial River Investments LLC now owns 3,186 shares of the construction company’s stock worth $347,000 after purchasing an additional 167 shares in the last quarter. 89.90% of the stock is owned by institutional investors.

PulteGroup Stock Performance

PHM opened at $101.56 on Monday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-month high of $149.47. The business has a 50 day moving average of $100.58 and a 200-day moving average of $105.57. The stock has a market cap of $20.36 billion, a price-to-earnings ratio of 7.16, a PEG ratio of 0.29 and a beta of 1.29.

PulteGroup (NYSE:PHM) last announced its earnings results on Tuesday, April 22nd. The construction company reported $2.57 EPS for the quarter, topping the consensus estimate of $2.47 by $0.10. The business 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 quarter in the previous year, the firm posted $3.10 EPS. On average, equities research analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 17th will be issued a dividend of $0.22 per share. The ex-dividend date is Tuesday, June 17th. This represents a $0.88 annualized dividend and a yield of 0.87%. PulteGroup’s payout ratio is currently 6.21%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PHM shares. Wedbush reiterated an “outperform” rating and issued a $135.00 price target on shares of PulteGroup in a report on Tuesday, April 22nd. Royal Bank Of Canada dropped their price target 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. Evercore ISI upped their price objective on PulteGroup from $161.00 to $165.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 23rd. Seaport Res Ptn raised PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 6th. Finally, Wells Fargo & Company cut their target price on PulteGroup from $140.00 to $120.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PulteGroup presently has a consensus rating of “Moderate Buy” and an average target price of $134.69.

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.