PulteGroup, Inc. $PHM Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp boosted its stake in PulteGroup, Inc. (NYSE:PHM) by 2.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 7,456 shares of the construction company’s stock after acquiring an additional 177 shares during the quarter. Fifth Third Bancorp’s holdings in PulteGroup were worth $786,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in PHM. WPG Advisers LLC acquired a new stake in PulteGroup in the 1st quarter valued at $25,000. American National Bank & Trust purchased a new position in PulteGroup in the 1st quarter valued at $39,000. Catalyst Capital Advisors LLC purchased a new position in PulteGroup in the 1st quarter valued at $54,000. Quarry LP lifted its holdings in PulteGroup by 43.8% in the 1st quarter. Quarry LP now owns 571 shares of the construction company’s stock valued at $59,000 after purchasing an additional 174 shares in the last quarter. Finally, Sentry Investment Management LLC purchased a new position in PulteGroup in the 1st quarter valued at $61,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on PHM. JPMorgan Chase & Co. lifted their price target on PulteGroup from $121.00 to $123.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Royal Bank Of Canada lifted their price target on PulteGroup from $109.00 to $112.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 23rd. Wedbush reiterated an “outperform” rating and set a $150.00 price target on shares of PulteGroup in a report on Wednesday, August 13th. Seaport Res Ptn upgraded PulteGroup from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 22nd. Finally, Zacks Research upgraded PulteGroup from a “strong sell” rating to a “hold” rating in a report on Friday, August 29th. One research 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, PulteGroup presently has a consensus rating of “Moderate Buy” and a consensus target price of $136.46.

PulteGroup Stock Up 1.9%

Shares of PHM opened at $131.21 on Monday. The firm has a market cap of $25.89 billion, a P/E ratio of 9.81, a price-to-earnings-growth ratio of 0.39 and a beta of 1.26. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-month high of $149.47. The company’s 50-day moving average price is $127.56 and its 200 day moving average price is $111.22. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.11. The firm 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%. PulteGroup’s revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned $3.83 EPS. On average, sell-side analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Dividend Announcement

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

PulteGroup Company 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.