Strs Ohio Takes Position in PulteGroup, Inc. $PHM

Strs Ohio bought a new stake in shares of PulteGroup, Inc. (NYSE:PHM) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 62,907 shares of the construction company’s stock, valued at approximately $6,467,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Merit Financial Group LLC boosted its position in shares of PulteGroup by 20.5% during the 1st quarter. Merit Financial Group LLC now owns 15,388 shares of the construction company’s stock valued at $1,582,000 after acquiring an additional 2,613 shares during the last quarter. Vest Financial LLC boosted its position in shares of PulteGroup by 1,311.3% during the 1st quarter. Vest Financial LLC now owns 312,723 shares of the construction company’s stock valued at $32,148,000 after acquiring an additional 290,564 shares during the last quarter. Hudson Capital Management LLC boosted its position in shares of PulteGroup by 8.6% during the 1st quarter. Hudson Capital Management LLC now owns 41,305 shares of the construction company’s stock valued at $4,246,000 after acquiring an additional 3,266 shares during the last quarter. NBC Securities Inc. raised its holdings in PulteGroup by 103,800.0% during the 1st quarter. NBC Securities Inc. now owns 5,195 shares of the construction company’s stock valued at $534,000 after buying an additional 5,190 shares during the period. Finally, Reyes Financial Architecture Inc. raised its holdings in PulteGroup by 42.1% during the 1st quarter. Reyes Financial Architecture Inc. now owns 770 shares of the construction company’s stock valued at $79,000 after buying an additional 228 shares during the period. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Stock Performance

PHM stock opened at $137.15 on Monday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.13. The business’s fifty day simple moving average is $123.37 and its two-hundred day simple moving average is $109.33. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month high of $149.47. The firm has a market cap of $27.06 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 0.40 and a beta of 1.26.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, July 22nd. The construction company reported $3.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.92 by $0.11. PulteGroup had a return on equity of 21.01% and a net margin of 15.50%.The business had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.42 billion. During the same quarter in the prior year, the company earned $3.83 EPS. The business’s revenue was down 4.3% compared to the same quarter last year. Analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.6%. PulteGroup’s dividend payout ratio is presently 6.58%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PHM. Oppenheimer increased their price target on PulteGroup from $132.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, July 23rd. Wells Fargo & Company increased their price target on PulteGroup from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Tuesday, September 2nd. UBS Group increased their price target on PulteGroup from $141.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. increased their price target on PulteGroup from $121.00 to $123.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Finally, Raymond James Financial restated an “outperform” rating and set a $140.00 price target (up previously from $115.00) on shares of PulteGroup in a report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $136.46.

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.