National Wealth Management Group LLC Makes New $705,000 Investment in PulteGroup, Inc. $PHM

National Wealth Management Group LLC bought a new position in shares of PulteGroup, Inc. (NYSE:PHM) during the third quarter, HoldingsChannel.com reports. The firm bought 5,334 shares of the construction company’s stock, valued at approximately $705,000.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in PulteGroup during the second quarter worth approximately $404,339,000. Massachusetts Financial Services Co. MA acquired a new stake in PulteGroup during the 3rd quarter worth approximately $315,883,000. First Trust Advisors LP lifted its holdings in PulteGroup by 27.2% during the 2nd quarter. First Trust Advisors LP now owns 3,199,906 shares of the construction company’s stock worth $337,462,000 after purchasing an additional 683,728 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of PulteGroup by 143.8% during the second quarter. American Century Companies Inc. now owns 772,762 shares of the construction company’s stock worth $81,496,000 after buying an additional 455,754 shares in the last quarter. Finally, Amundi boosted its position in shares of PulteGroup by 38.4% in the second quarter. Amundi now owns 1,375,535 shares of the construction company’s stock valued at $153,152,000 after acquiring an additional 381,380 shares during the period. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $111.00 price target on shares of PulteGroup in a research note on Friday, January 9th. Evercore ISI cut their target price on PulteGroup from $154.00 to $134.00 and set an “in-line” rating for the company in a research report on Wednesday, October 22nd. Wall Street Zen raised PulteGroup from a “sell” rating to a “hold” rating in a report on Sunday, January 11th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $144.00 price target on shares of PulteGroup in a research note on Tuesday, January 13th. Finally, Wedbush reaffirmed an “outperform” rating and set a $150.00 price objective on shares of PulteGroup in a research report on Tuesday, October 21st. Nine equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, PulteGroup presently has an average rating of “Moderate Buy” and an average target price of $138.85.

PulteGroup Price Performance

PulteGroup stock opened at $125.15 on Monday. PulteGroup, Inc. has a 52 week low of $88.07 and a 52 week high of $142.11. The business has a 50-day simple moving average of $123.70 and a 200 day simple moving average of $124.41. The stock has a market cap of $24.39 billion, a price-to-earnings ratio of 9.63, a PEG ratio of 1.02 and a beta of 1.33. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.13.

PulteGroup Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders of record on Tuesday, December 16th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. This is an increase from PulteGroup’s previous quarterly dividend of $0.22. PulteGroup’s payout ratio is presently 8.01%.

About PulteGroup

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.