Golden State Wealth Management LLC Has $93,000 Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Golden State Wealth Management LLC grew its position in PulteGroup, Inc. (NYSE:PHM) by 15.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 909 shares of the construction company’s stock after purchasing an additional 125 shares during the period. Golden State Wealth Management LLC’s holdings in PulteGroup were worth $93,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PHM. Allspring Global Investments Holdings LLC boosted its holdings in shares of PulteGroup by 4.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 715,783 shares of the construction company’s stock worth $73,754,000 after buying an additional 31,158 shares during the period. Vista Investment Partners II LLC raised its position in shares of PulteGroup by 37.8% in the 1st quarter. Vista Investment Partners II LLC now owns 12,119 shares of the construction company’s stock valued at $1,246,000 after buying an additional 3,322 shares in the last quarter. Kessler Investment Group LLC acquired a new position in PulteGroup during the 1st quarter worth approximately $4,883,000. Illinois Municipal Retirement Fund increased its position in PulteGroup by 11.8% during the 1st quarter. Illinois Municipal Retirement Fund now owns 87,647 shares of the construction company’s stock worth $9,010,000 after purchasing an additional 9,269 shares in the last quarter. Finally, Diversified Trust Co acquired a new position in PulteGroup during the 1st quarter worth approximately $240,000. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Stock Down 1.9%

Shares of NYSE PHM opened at $109.27 on Monday. The firm has a market cap of $21.90 billion, a PE ratio of 7.71, a P/E/G 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’s fifty day simple moving average is $102.52 and its 200 day simple moving average is $104.69. 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 (NYSE:PHM) last issued its earnings results on Tuesday, April 22nd. The construction company reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.10. The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.86 billion. PulteGroup had a net margin of 16.45% and a return on equity of 22.86%. During the same period in the prior year, the firm earned $3.10 earnings per share. As a group, sell-side analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Tuesday, June 17th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $0.88 annualized dividend and a yield of 0.81%. PulteGroup’s payout ratio is 6.21%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Evercore ISI upped their price objective on shares of PulteGroup from $161.00 to $165.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 23rd. Royal Bank Of Canada decreased their price target on shares of PulteGroup from $116.00 to $109.00 and set a “sector perform” rating for the company in a research report on Wednesday, April 23rd. UBS Group decreased their price target on shares of PulteGroup from $151.00 to $141.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Wells Fargo & Company decreased their price target on shares of PulteGroup from $140.00 to $120.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Finally, Barclays decreased their price target on shares of PulteGroup from $100.00 to $98.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 23rd. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $134.69.

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.