Envestnet Portfolio Solutions Inc. Buys 103 Shares of PulteGroup, Inc. $PHM

Envestnet Portfolio Solutions Inc. raised its position in shares of PulteGroup, Inc. (NYSE:PHM) by 0.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,635 shares of the construction company’s stock after purchasing an additional 103 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in PulteGroup were worth $1,227,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Vest Financial LLC raised its position in PulteGroup by 16.8% during the second quarter. Vest Financial LLC now owns 365,317 shares of the construction company’s stock valued at $38,526,000 after purchasing an additional 52,594 shares in the last quarter. MOKAN Wealth Management Inc. acquired a new position in PulteGroup during the second quarter valued at approximately $1,372,000. Allspring Global Investments Holdings LLC raised its position in PulteGroup by 16.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 833,512 shares of the construction company’s stock valued at $91,636,000 after purchasing an additional 117,729 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its position in PulteGroup by 11.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 46,949 shares of the construction company’s stock valued at $4,951,000 after purchasing an additional 4,677 shares in the last quarter. Finally, Drucker Wealth 3.0 LLC acquired a new position in PulteGroup during the second quarter valued at approximately $746,000. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Stock Performance

Shares of PulteGroup stock opened at $124.29 on Friday. 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 twelve month low of $88.07 and a twelve month high of $149.47. The stock has a market cap of $24.52 billion, a price-to-earnings ratio of 9.29, a P/E/G ratio of 0.37 and a beta of 1.29. The company’s fifty day moving average is $130.81 and its 200 day moving average is $113.69.

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

PulteGroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Tuesday, September 16th were paid a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $0.88 annualized dividend and a dividend yield of 0.7%. PulteGroup’s payout ratio is currently 6.58%.

Analyst Ratings Changes

Several brokerages have commented on PHM. Seaport Res Ptn upgraded shares of PulteGroup from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 22nd. Zacks Research upgraded shares of PulteGroup from a “strong sell” rating to a “hold” rating in a report on Friday, August 29th. Citigroup upped their price target on shares of PulteGroup from $132.00 to $143.00 and gave the stock a “neutral” rating in a report on Wednesday, October 1st. UBS Group upped their price target on shares of PulteGroup from $141.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. Finally, Royal Bank Of Canada upped their price target on shares of PulteGroup from $109.00 to $112.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $136.92.

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.