Wedge Capital Management L L P NC Has $3.58 Million Stake in PulteGroup, Inc. (NYSE:PHM)

Wedge Capital Management L L P NC trimmed its position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 91.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,836 shares of the construction company's stock after selling 361,458 shares during the period. Wedge Capital Management L L P NC's holdings in PulteGroup were worth $3,576,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Logan Capital Management Inc. raised its stake in shares of PulteGroup by 67.7% during the third quarter. Logan Capital Management Inc. now owns 14,797 shares of the construction company's stock valued at $2,124,000 after purchasing an additional 5,976 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in shares of PulteGroup by 38.1% in the third quarter. Sanctuary Advisors LLC now owns 121,299 shares of the construction company's stock worth $17,410,000 after buying an additional 33,472 shares during the period. Trustmark National Bank Trust Department grew its position in PulteGroup by 39.8% during the 3rd quarter. Trustmark National Bank Trust Department now owns 39,589 shares of the construction company's stock worth $5,682,000 after purchasing an additional 11,269 shares in the last quarter. Systematic Financial Management LP raised its position in PulteGroup by 3.9% during the third quarter. Systematic Financial Management LP now owns 130,257 shares of the construction company's stock valued at $18,696,000 after buying an additional 4,840 shares during the period. Finally, New Millennium Group LLC boosted its position in PulteGroup by 10,625.8% during the 3rd quarter. New Millennium Group LLC now owns 9,546 shares of the construction company's stock worth $1,370,000 after acquiring an additional 9,457 shares during the period. Institutional investors own 89.90% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of PulteGroup from $162.00 to $155.00 and set an "overweight" rating for the company in a report on Friday, December 13th. Citigroup lowered their price target on shares of PulteGroup from $146.00 to $119.00 and set a "neutral" rating on the stock in a report on Monday, January 6th. BTIG Research increased their price objective on PulteGroup from $139.00 to $156.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. The Goldman Sachs Group lowered their target price on PulteGroup from $140.00 to $124.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 14th. Finally, Barclays lowered their price target on PulteGroup from $140.00 to $125.00 and set an "equal weight" rating for the company in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $144.14.

PulteGroup Stock Performance

Shares of NYSE:PHM traded up $0.18 during trading on Monday, hitting $117.11. 2,441,237 shares of the stock were exchanged, compared to its average volume of 1,712,113. The company has a market capitalization of $24.02 billion, a price-to-earnings ratio of 8.64, a price-to-earnings-growth ratio of 0.43 and a beta of 1.67. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73. PulteGroup, Inc. has a 1-year low of $100.24 and a 1-year high of $149.47. The company's fifty day simple moving average is $120.34 and its 200-day simple moving average is $127.17.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, topping analysts' consensus estimates of $3.10 by $0.25. The company had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.27 billion. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. During the same period last year, the firm earned $2.90 EPS. The firm's revenue for the quarter was up 11.8% compared to the same quarter last year. Sell-side analysts expect that PulteGroup, Inc. will post 12.96 EPS for the current fiscal year.

PulteGroup Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th were issued a $0.22 dividend. The ex-dividend date was Tuesday, December 17th. This is a boost from PulteGroup's previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.75%. PulteGroup's dividend payout ratio is presently 6.49%.

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.