Trivant Custom Portfolio Group LLC Purchases Shares of 13,446 PulteGroup, Inc. (NYSE:PHM)

Trivant Custom Portfolio Group LLC acquired a new stake in PulteGroup, Inc. (NYSE:PHM - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,446 shares of the construction company's stock, valued at approximately $1,622,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Rakuten Securities Inc. purchased a new position in PulteGroup in the fourth quarter valued at about $37,000. Lindbrook Capital LLC grew its stake in PulteGroup by 335.6% in the fourth quarter. Lindbrook Capital LLC now owns 379 shares of the construction company's stock valued at $39,000 after purchasing an additional 292 shares during the last quarter. ORG Partners LLC grew its stake in PulteGroup by 3,463.6% in the fourth quarter. ORG Partners LLC now owns 392 shares of the construction company's stock valued at $40,000 after purchasing an additional 381 shares during the last quarter. Security National Bank purchased a new position in PulteGroup in the fourth quarter valued at about $40,000. Finally, AdvisorNet Financial Inc grew its stake in PulteGroup by 91.5% in the fourth quarter. AdvisorNet Financial Inc now owns 427 shares of the construction company's stock valued at $44,000 after purchasing an additional 204 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PHM shares. Jefferies Financial Group boosted their price target on PulteGroup from $126.00 to $131.00 and gave the stock a "buy" rating in a research note on Wednesday, April 24th. Royal Bank of Canada boosted their price target on PulteGroup from $106.00 to $113.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 24th. Oppenheimer boosted their price target on PulteGroup from $138.00 to $143.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 24th. Citigroup boosted their price target on PulteGroup from $127.00 to $129.00 and gave the stock a "neutral" rating in a research note on Friday, May 17th. Finally, Zelman & Associates upgraded PulteGroup from a "neutral" rating to an "outperform" rating in a research note on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $113.07.

PulteGroup Stock Performance

NYSE:PHM traded up $0.35 during trading hours on Friday, reaching $110.10. The company had a trading volume of 3,680,695 shares, compared to its average volume of 1,657,969. PulteGroup, Inc. has a 1-year low of $68.80 and a 1-year high of $122.72. The firm has a market cap of $23.16 billion, a PE ratio of 8.82, a price-to-earnings-growth ratio of 0.49 and a beta of 1.59. The business's 50 day moving average price is $114.11 and its 200-day moving average price is $109.70. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.85 and a quick ratio of 0.85.

PulteGroup (NYSE:PHM - Get Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The construction company reported $2.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.36 by $0.51. PulteGroup had a return on equity of 25.81% and a net margin of 16.63%. The company had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.59 billion. Research analysts forecast that PulteGroup, Inc. will post 12.64 EPS for the current year.

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 18th will be issued a $0.20 dividend. 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 payout ratio is presently 6.41%.

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.