Versant Capital Management Inc Raises Position in PulteGroup, Inc. (NYSE:PHM)

Versant Capital Management Inc lifted its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 559.7% during the first quarter, Holdings Channel reports. The fund owned 4,235 shares of the construction company’s stock after acquiring an additional 3,593 shares during the period. Versant Capital Management Inc’s holdings in PulteGroup were worth $435,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Hager Investment Management Services LLC acquired a new position in PulteGroup during the 4th quarter worth $29,000. Ameriflex Group Inc. purchased a new position in shares of PulteGroup in the 4th quarter valued at about $37,000. TD Waterhouse Canada Inc. grew its position in shares of PulteGroup by 43.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company’s stock worth $38,000 after buying an additional 105 shares in the last quarter. R Squared Ltd purchased a new stake in shares of PulteGroup during the fourth quarter worth approximately $39,000. Finally, Quarry LP acquired a new stake in PulteGroup in the fourth quarter valued at approximately $43,000. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Trading Down 0.5%

PHM opened at $98.09 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a 52 week low of $88.07 and a 52 week high of $149.47. The business’s 50 day moving average is $99.92 and its two-hundred day moving average is $109.08. The firm has a market cap of $19.66 billion, a price-to-earnings ratio of 6.67, a price-to-earnings-growth ratio of 0.29 and a beta of 1.37.

PulteGroup (NYSE:PHM) last announced its earnings results on Tuesday, April 22nd. The construction company reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.10. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. The business had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.86 billion. During the same period in the previous year, the company posted $3.10 EPS. On average, research analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Tuesday, June 17th will be paid a $0.22 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $0.88 dividend on an annualized basis and a yield of 0.90%. PulteGroup’s dividend payout ratio is presently 6.21%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PHM shares. 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 note on Wednesday, April 23rd. Barclays decreased their price objective 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. Oppenheimer lowered their target price on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. Evercore ISI raised their price target on PulteGroup from $161.00 to $165.00 and gave the company an “outperform” rating in a research note on Wednesday, April 23rd. Finally, Wedbush reaffirmed an “outperform” rating and set a $135.00 price objective on shares of PulteGroup in a research report on Tuesday, April 22nd. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, PulteGroup currently has an average rating of “Moderate Buy” and an average target price 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.