Red Door Wealth Management LLC Makes New Investment in PulteGroup, Inc. (NYSE:PHM)

Red Door Wealth Management LLC bought a new stake in PulteGroup, Inc. (NYSE:PHM) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,816 shares of the construction company’s stock, valued at approximately $219,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in PHM. Putnam Investments LLC increased its position in PulteGroup by 1.8% in the fourth quarter. Putnam Investments LLC now owns 11,008,695 shares of the construction company’s stock worth $1,136,318,000 after purchasing an additional 197,656 shares during the period. Greenhaven Associates Inc. boosted its stake in shares of PulteGroup by 0.4% in the 4th quarter. Greenhaven Associates Inc. now owns 5,726,368 shares of the construction company’s stock valued at $591,076,000 after purchasing an additional 24,350 shares during the last quarter. Norges Bank acquired a new stake in shares of PulteGroup during the 4th quarter worth approximately $381,960,000. Morgan Stanley raised its stake in shares of PulteGroup by 2.0% during the third quarter. Morgan Stanley now owns 3,115,877 shares of the construction company’s stock worth $230,731,000 after buying an additional 61,953 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in PulteGroup by 54.6% in the fourth quarter. Pacer Advisors Inc. now owns 3,003,713 shares of the construction company’s stock valued at $310,043,000 after buying an additional 1,060,466 shares during the period. Institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Up 0.3 %

Shares of PHM stock opened at $110.10 on Monday. The company has a market capitalization of $23.16 billion, a price-to-earnings ratio of 8.82, a P/E/G ratio of 0.49 and a beta of 1.61. PulteGroup, Inc. has a 12-month low of $68.80 and a 12-month high of $122.72. The firm has a fifty day moving average of $114.11 and a 200-day moving average of $109.78. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.18.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, April 23rd. The construction company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.51. The firm had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.59 billion. PulteGroup had a return on equity of 25.81% and a net margin of 16.63%. As a group, equities research analysts predict that PulteGroup, Inc. will post 12.64 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 18th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date is Tuesday, June 18th. PulteGroup’s dividend payout ratio (DPR) is currently 6.41%.

Wall Street Analysts Forecast Growth

Several analysts have commented on PHM shares. Royal Bank of Canada upped their target price on shares of PulteGroup from $106.00 to $113.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 24th. Citigroup upped their price objective on PulteGroup from $127.00 to $129.00 and gave the company a “neutral” rating in a report on Friday, May 17th. Oppenheimer raised their target price on PulteGroup from $138.00 to $143.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Barclays upped their price target on PulteGroup from $126.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Finally, Jefferies Financial Group lifted their price objective on shares of PulteGroup from $126.00 to $131.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, PulteGroup has an average rating of “Moderate Buy” and an average 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.