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

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

A number of other hedge funds also recently modified their holdings of the stock. Franklin Resources Inc. increased its position in PulteGroup by 5.5% during the third quarter. Franklin Resources Inc. now owns 11,254,274 shares of the construction company’s stock worth $1,647,364,000 after acquiring an additional 585,735 shares during the period. FMR LLC increased its position in PulteGroup by 102.3% during the third quarter. FMR LLC now owns 9,040,828 shares of the construction company’s stock worth $1,297,630,000 after acquiring an additional 4,571,757 shares during the period. Greenhaven Associates Inc. increased its position in PulteGroup by 0.3% during the third quarter. Greenhaven Associates Inc. now owns 5,593,179 shares of the construction company’s stock worth $802,789,000 after acquiring an additional 16,871 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in PulteGroup by 7.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,864,040 shares of the construction company’s stock worth $267,546,000 after acquiring an additional 135,391 shares during the period. Finally, Nordea Investment Management AB increased its position in PulteGroup by 10.0% during the fourth quarter. Nordea Investment Management AB now owns 1,424,119 shares of the construction company’s stock worth $155,856,000 after acquiring an additional 129,975 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Seaport Res Ptn lowered shares of PulteGroup from a “hold” rating to a “strong sell” rating in a research report on Monday. Barclays decreased their target price on shares of PulteGroup from $140.00 to $125.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. Bank of America decreased their target price on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a report on Monday. UBS Group raised shares of PulteGroup from a “neutral” rating to a “buy” rating and decreased their target price for the company from $154.00 to $148.00 in a report on Wednesday, January 8th. Finally, The Goldman Sachs Group decreased their price target on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $142.29.

PulteGroup Stock Down 1.9 %

NYSE:PHM opened at $112.90 on Thursday. The company has a market cap of $23.15 billion, a PE ratio of 8.33, a P/E/G ratio of 0.46 and a beta of 1.67. PulteGroup, Inc. has a one year low of $100.24 and a one year high of $149.47. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.73. The firm’s 50 day simple moving average is $118.53 and its 200 day simple moving average is $127.58.

PulteGroup Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th were given a $0.22 dividend. The ex-dividend date was Tuesday, December 17th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.78%. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. PulteGroup’s 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.