Lazard Asset Management LLC Has $55.99 Million Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Lazard Asset Management LLC lifted its position in PulteGroup, Inc. (NYSE:PHM) by 1.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 464,217 shares of the construction company’s stock after acquiring an additional 5,022 shares during the period. Lazard Asset Management LLC’s holdings in PulteGroup were worth $55,993,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Blair William & Co. IL raised its position in shares of PulteGroup by 1.9% in the 1st quarter. Blair William & Co. IL now owns 27,269 shares of the construction company’s stock valued at $3,289,000 after acquiring an additional 516 shares during the period. Certuity LLC acquired a new stake in shares of PulteGroup in the 4th quarter valued at approximately $245,000. Banque Cantonale Vaudoise raised its holdings in PulteGroup by 166.6% during the 1st quarter. Banque Cantonale Vaudoise now owns 13,146 shares of the construction company’s stock worth $1,586,000 after buying an additional 8,215 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in PulteGroup by 6.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 297,544 shares of the construction company’s stock worth $35,890,000 after buying an additional 17,369 shares during the period. Finally, Personal CFO Solutions LLC acquired a new stake in PulteGroup during the 4th quarter worth approximately $719,000. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Stock Performance

PHM stock traded up $4.99 during midday trading on Friday, reaching $129.99. 2,541,442 shares of the company were exchanged, compared to its average volume of 2,269,473. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.76 and a quick ratio of 0.85. The business has a 50-day moving average price of $114.31 and a two-hundred day moving average price of $111.56. PulteGroup, Inc. has a one year low of $68.80 and a one year high of $130.93. The firm has a market capitalization of $26.98 billion, a price-to-earnings ratio of 10.41, a price-to-earnings-growth ratio of 0.54 and a beta of 1.61.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, July 23rd. The construction company reported $3.83 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.56. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. The firm had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.49 billion. During the same period in the previous year, the business posted $3.00 earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. Equities research analysts forecast that PulteGroup, Inc. will post 12.81 EPS for the current year.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 18th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, June 18th. This represents a $0.80 dividend on an annualized basis and a yield of 0.62%. PulteGroup’s dividend payout ratio (DPR) is 6.41%.

Analysts Set New Price Targets

PHM has been the topic of several research analyst reports. Citigroup dropped their target price on shares of PulteGroup from $129.00 to $117.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. StockNews.com upgraded shares of PulteGroup from a “hold” rating to a “buy” rating in a report on Wednesday, April 24th. Oppenheimer raised their target price on shares of PulteGroup from $143.00 to $151.00 and gave the stock an “outperform” rating in a report on Wednesday. Royal Bank of Canada raised their target price on shares of PulteGroup from $113.00 to $120.00 and gave the stock a “sector perform” rating in a report on Wednesday. Finally, Evercore ISI raised their price target on shares of PulteGroup from $183.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, PulteGroup presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.14.

PulteGroup 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.