Institute for Wealth Management LLC. Purchases 619 Shares of PulteGroup, Inc. $PHM

Institute for Wealth Management LLC. boosted its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 5.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,489 shares of the construction company’s stock after buying an additional 619 shares during the quarter. Institute for Wealth Management LLC.’s holdings in PulteGroup were worth $1,317,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. WPG Advisers LLC bought a new stake in PulteGroup during the 1st quarter valued at about $25,000. American National Bank & Trust bought a new stake in PulteGroup during the 1st quarter valued at about $39,000. Catalyst Capital Advisors LLC bought a new stake in PulteGroup during the 1st quarter valued at about $54,000. Quarry LP lifted its holdings in PulteGroup by 43.8% during the 1st quarter. Quarry LP now owns 571 shares of the construction company’s stock valued at $59,000 after buying an additional 174 shares in the last quarter. Finally, Sentry Investment Management LLC bought a new stake in PulteGroup during the 1st quarter valued at about $61,000. Institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Down 0.7%

Shares of PulteGroup stock opened at $132.16 on Wednesday. The firm’s 50 day moving average price is $128.28 and its 200-day moving average price is $111.57. The company has a quick ratio of 0.77, a current ratio of 0.77 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 company has a market cap of $26.07 billion, a P/E ratio of 9.88, a PEG ratio of 0.39 and a beta of 1.26.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.92 by $0.11. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. The firm had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.42 billion. During the same quarter in the previous year, the firm earned $3.83 EPS. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. On average, sell-side analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 16th will be given a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.7%. PulteGroup’s payout ratio is presently 6.58%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PHM shares. Raymond James Financial reiterated an “outperform” rating and set a $140.00 price objective (up previously from $115.00) on shares of PulteGroup in a report on Wednesday, July 23rd. Oppenheimer raised their target price on shares of PulteGroup from $132.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, July 23rd. Citigroup raised their target price on shares of PulteGroup from $128.00 to $132.00 and gave the company a “neutral” rating in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. raised their target price on shares of PulteGroup from $121.00 to $123.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. Finally, Wedbush reissued an “outperform” rating and set a $150.00 target price on shares of PulteGroup in a research report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, PulteGroup presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.46.

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.