189,357 Shares in PulteGroup, Inc. $PHM Bought by Generate Investment Management Ltd

Key Points

• Generate Investment Management Ltd purchased 189,357 shares of PulteGroup, valued at approximately $19.97 million, during the 2nd quarter, acquiring a 0.09% stake in the company.
• PulteGroup reported earnings of $3.03 per share for the latest quarter, surpassing analysts' expectations, while the company's quarterly revenue was down 4.3% year-over-year.
• The company declared a quarterly dividend of $0.22 per share, with an annual yield of 0.7%, payable on October 2nd to investors of record by September 16th.

Generate Investment Management Ltd bought a new position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 189,357 shares of the construction company's stock, valued at approximately $19,970,000. Generate Investment Management Ltd owned 0.09% of PulteGroup at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PHM. V Square Quantitative Management LLC increased its position in PulteGroup by 2.0% during the 2nd quarter. V Square Quantitative Management LLC now owns 6,631 shares of the construction company's stock valued at $699,000 after purchasing an additional 127 shares during the period. Patton Albertson Miller Group LLC lifted its holdings in PulteGroup by 1.7% in the second quarter. Patton Albertson Miller Group LLC now owns 66,133 shares of the construction company's stock valued at $6,974,000 after buying an additional 1,135 shares during the period. Signaturefd LLC boosted its position in PulteGroup by 2.9% during the second quarter. Signaturefd LLC now owns 6,838 shares of the construction company's stock valued at $721,000 after acquiring an additional 194 shares during the last quarter. Patton Fund Management Inc. acquired a new stake in PulteGroup during the 2nd quarter worth about $228,000. Finally, Kathmere Capital Management LLC raised its position in shares of PulteGroup by 9.4% in the 2nd quarter. Kathmere Capital Management LLC now owns 5,689 shares of the construction company's stock worth $600,000 after acquiring an additional 487 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company's stock.

PulteGroup Price Performance

PulteGroup stock opened at $131.21 on Monday. The firm has a market capitalization of $25.89 billion, a P/E ratio of 9.81, a PEG ratio of 0.39 and a beta of 1.26. PulteGroup, Inc. has a one year low of $88.07 and a one year high of $149.47. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.77 and a quick ratio of 0.77. The business has a fifty day moving average price of $127.56 and a 200-day moving average price of $111.22.

PulteGroup (NYSE:PHM - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $4.40 billion for the quarter, compared to analysts' expectations of $4.42 billion. PulteGroup had a return on equity of 21.01% and a net margin of 15.50%.The firm's quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.83 EPS. As a group, equities research analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. boosted their price target on PulteGroup from $121.00 to $123.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. UBS Group boosted their target price on shares of PulteGroup from $141.00 to $150.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Citigroup lifted their price target 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. Royal Bank Of Canada upped their price objective on shares of PulteGroup from $109.00 to $112.00 and gave the company a "sector perform" rating in a report on Wednesday, July 23rd. Finally, Wells Fargo & Company raised their target price on PulteGroup from $135.00 to $150.00 and gave the company an "overweight" rating in a research note on Tuesday, September 2nd. One investment 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $136.46.

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.

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