Pallas Capital Advisors LLC Has $237,000 Stock Position in PulteGroup, Inc. (NYSE:PHM)

Pallas Capital Advisors LLC lowered its position in shares of PulteGroup, Inc. (NYSE:PHM) by 22.2% in the first quarter, HoldingsChannel reports. The firm owned 2,301 shares of the construction company’s stock after selling 658 shares during the period. Pallas Capital Advisors LLC’s holdings in PulteGroup were worth $237,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PHM. Norges Bank acquired a new stake in shares of PulteGroup during the 4th quarter worth about $427,562,000. Amundi increased its position in PulteGroup by 77.9% in the 4th quarter. Amundi now owns 1,636,562 shares of the construction company’s stock valued at $180,775,000 after acquiring an additional 716,716 shares in the last quarter. Franklin Resources Inc. increased its position in PulteGroup by 6.1% in the 4th quarter. Franklin Resources Inc. now owns 11,937,866 shares of the construction company’s stock valued at $1,300,034,000 after acquiring an additional 683,592 shares in the last quarter. Man Group plc increased its position in PulteGroup by 136.8% in the 4th quarter. Man Group plc now owns 988,963 shares of the construction company’s stock valued at $107,698,000 after acquiring an additional 571,251 shares in the last quarter. Finally, Voloridge Investment Management LLC acquired a new stake in PulteGroup in the 4th quarter valued at about $47,133,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Stock Down 2.6%

PulteGroup stock opened at $101.43 on Friday. The company’s 50 day simple moving average is $100.04 and its 200 day simple moving average is $107.10. PulteGroup, Inc. has a fifty-two week low of $88.07 and a fifty-two week high of $149.47. The firm has a market capitalization of $20.33 billion, a price-to-earnings ratio of 6.89, a PEG ratio of 0.29 and a beta of 1.29. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, April 22nd. The construction company reported $2.57 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $3.86 billion. During the same quarter last year, the firm earned $3.10 EPS. As a group, sell-side analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Tuesday, June 17th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.88 annualized dividend and a yield of 0.87%. PulteGroup’s dividend payout ratio (DPR) is currently 6.21%.

Analyst Ratings Changes

Several equities research analysts have weighed in on PHM shares. Wells Fargo & Company lowered their price objective on shares of PulteGroup from $140.00 to $120.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Seaport Res Ptn upgraded shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 6th. UBS Group lowered their price objective on shares of PulteGroup from $151.00 to $141.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Evercore ISI raised their price objective on shares of PulteGroup from $161.00 to $165.00 and gave the company an “outperform” rating in a research report on Wednesday, April 23rd. Finally, Wedbush restated an “outperform” rating and issued 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, PulteGroup presently has a consensus rating of “Moderate Buy” and an average target price of $134.69.

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.