Exchange Traded Concepts LLC Has $767,000 Position in PulteGroup, Inc. (NYSE:PHM)

Exchange Traded Concepts LLC lifted its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 38.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,046 shares of the construction company’s stock after acquiring an additional 1,948 shares during the period. Exchange Traded Concepts LLC’s holdings in PulteGroup were worth $767,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PHM. Fortitude Family Office LLC lifted its position in shares of PulteGroup by 115.1% during the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock valued at $27,000 after acquiring an additional 99 shares during the period. Transcendent Capital Group LLC bought a new stake in PulteGroup during the 3rd quarter valued at $29,000. JNBA Financial Advisors bought a new stake in PulteGroup during the 3rd quarter valued at $43,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in PulteGroup by 1,059.3% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 313 shares of the construction company’s stock valued at $45,000 after purchasing an additional 286 shares in the last quarter. Finally, Grove Bank & Trust increased its stake in PulteGroup by 18.4% during the 3rd quarter. Grove Bank & Trust now owns 463 shares of the construction company’s stock valued at $66,000 after purchasing an additional 72 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

Analyst Upgrades and Downgrades

PHM has been the subject of a number of recent research reports. UBS Group upgraded shares of PulteGroup from a “neutral” rating to a “buy” rating and decreased their price target for the company from $154.00 to $148.00 in a research note on Wednesday, January 8th. Citigroup decreased their price target on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Oppenheimer decreased their price target on shares of PulteGroup from $168.00 to $165.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. reduced their target price on shares of PulteGroup from $162.00 to $155.00 and set an “overweight” rating for the company in a research note on Friday, December 13th. Finally, Seaport Res Ptn lowered shares of PulteGroup from a “hold” rating to a “strong sell” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $142.29.

PulteGroup Price Performance

Shares of NYSE:PHM opened at $112.90 on Thursday. The company has a market capitalization of $23.15 billion, a P/E ratio of 8.33, a price-to-earnings-growth ratio of 0.46 and a beta of 1.67. PulteGroup, Inc. has a fifty-two week low of $100.24 and a fifty-two week high of $149.47. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73. The company’s 50-day moving average is $118.53 and its 200 day moving average is $127.58.

PulteGroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, December 17th. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 0.78%. PulteGroup’s dividend payout ratio is 6.49%.

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.