PulteGroup, Inc. $PHM Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 1.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,101 shares of the construction company’s stock after purchasing an additional 427 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in PulteGroup were worth $2,436,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. WPG Advisers LLC purchased a new stake in PulteGroup during the first quarter worth $25,000. Ameriflex Group Inc. purchased a new position in shares of PulteGroup in the fourth quarter worth about $37,000. American National Bank & Trust purchased a new position in shares of PulteGroup in the first quarter worth about $39,000. Catalyst Capital Advisors LLC acquired a new stake in PulteGroup during the first quarter worth about $54,000. Finally, Quarry LP increased its position in PulteGroup by 43.8% during the first quarter. Quarry LP now owns 571 shares of the construction company’s stock worth $59,000 after purchasing an additional 174 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on PHM shares. JPMorgan Chase & Co. lifted their price target on shares of PulteGroup from $121.00 to $123.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. Citigroup raised their price objective on shares of PulteGroup from $128.00 to $132.00 and gave the company a “neutral” rating in a research note on Wednesday, July 23rd. UBS Group lifted their price target on shares of PulteGroup from $141.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Wells Fargo & Company boosted their price objective on shares of PulteGroup from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 2nd. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $140.00 target price (up from $115.00) on shares of PulteGroup in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $136.46.

PulteGroup Stock Performance

NYSE:PHM opened at $131.95 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 stock has a market cap of $26.03 billion, a PE ratio of 9.86, a price-to-earnings-growth ratio of 0.39 and a beta of 1.26. The firm’s fifty day simple moving average is $125.53 and its 200-day simple moving average is $110.35. PulteGroup, Inc. has a fifty-two week low of $88.07 and a fifty-two week high of $149.47.

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

PulteGroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 16th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Tuesday, September 16th. PulteGroup’s dividend payout ratio is 6.58%.

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.