PulteGroup, Inc. (NYSE:PHM) Position Raised by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. grew its position in shares of PulteGroup, Inc. (NYSE:PHM) by 2.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,502 shares of the construction company’s stock after acquiring an additional 152 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in PulteGroup were worth $905,000 as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PHM. StockNews.com upgraded shares of PulteGroup from a “hold” rating to a “buy” rating in a research note on Wednesday, April 24th. Raymond James reiterated an “outperform” rating and issued a $135.00 price objective (up from $120.00) on shares of PulteGroup in a report on Thursday, April 25th. Oppenheimer raised their price objective on shares of PulteGroup from $138.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Royal Bank of Canada upped their target price on PulteGroup from $106.00 to $113.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 24th. Finally, Barclays lifted their price target on PulteGroup from $126.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, PulteGroup currently has an average rating of “Moderate Buy” and an average price target of $112.21.

PulteGroup Price Performance

NYSE PHM opened at $105.06 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18. PulteGroup, Inc. has a 1 year low of $68.80 and a 1 year high of $122.72. The company has a market cap of $22.10 billion, a PE ratio of 8.41, a PEG ratio of 0.47 and a beta of 1.61. The stock’s 50-day moving average price is $113.78 and its two-hundred day moving average price is $109.77.

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

PulteGroup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 18th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.76%. The ex-dividend date was Tuesday, June 18th. PulteGroup’s dividend payout ratio (DPR) is currently 6.41%.

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.