8,010 Shares in PulteGroup, Inc. $PHM Purchased by AG2R LA Mondiale Gestion D Actifs

Key Points

• AG2R LA Mondiale Gestion D Actifs acquired a new stake in PulteGroup, Inc. by purchasing 8,010 shares valued at approximately $785,000 in the first quarter.
• Recent analyst upgrades have raised the price target for PulteGroup, with Raymond James setting it at $140.00, reflecting increased confidence in the company's performance.
• PulteGroup recently announced a quarterly dividend of $0.22 per share, with a yield of 0.6%, payable on October 2nd, indicating ongoing financial stability.

AG2R LA Mondiale Gestion D Actifs purchased a new position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 8,010 shares of the construction company's stock, valued at approximately $785,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Voya Investment Management LLC raised its position in PulteGroup by 0.3% during the 1st quarter. Voya Investment Management LLC now owns 62,529 shares of the construction company's stock valued at $6,428,000 after purchasing an additional 210 shares in the last quarter. First Hawaiian Bank grew its stake in PulteGroup by 37.2% during the 1st quarter. First Hawaiian Bank now owns 3,362 shares of the construction company's stock worth $346,000 after buying an additional 912 shares during the last quarter. Inspire Investing LLC lifted its position in PulteGroup by 143.7% during the 1st quarter. Inspire Investing LLC now owns 24,059 shares of the construction company's stock worth $2,473,000 after acquiring an additional 14,185 shares during the period. Modern Wealth Management LLC acquired a new stake in PulteGroup during the 1st quarter worth about $321,000. Finally, Strs Ohio acquired a new position in shares of PulteGroup in the 1st quarter valued at about $6,467,000. 89.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on PHM. Wells Fargo & Company boosted their price objective on PulteGroup from $135.00 to $150.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 2nd. Oppenheimer lifted their target price on PulteGroup from $132.00 to $140.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. Raymond James Financial reiterated an "outperform" rating and set a $140.00 target price (up previously from $115.00) on shares of PulteGroup in a research report on Wednesday, July 23rd. Royal Bank Of Canada lifted their price objective on PulteGroup from $109.00 to $112.00 and gave the company a "sector perform" rating in a report on Wednesday, July 23rd. Finally, Zacks Research raised PulteGroup from a "strong sell" rating to a "hold" rating in a research note on Friday, August 29th. 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. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $136.46.

PulteGroup Stock Down 0.6%

NYSE:PHM traded down $0.85 during trading hours on Tuesday, hitting $133.99. 2,257,754 shares of the stock traded hands, compared to its average volume of 1,891,959. 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, Inc. has a fifty-two week low of $88.07 and a fifty-two week high of $149.47. The firm has a 50 day moving average price of $124.40 and a 200 day moving average price of $109.72. The firm has a market cap of $26.44 billion, a price-to-earnings ratio of 10.01, a PEG ratio of 0.40 and a beta of 1.27.

PulteGroup (NYSE:PHM - Get Free Report) last released its earnings results on Tuesday, July 22nd. The construction company reported $3.03 earnings per share for the quarter, topping analysts' consensus estimates of $2.92 by $0.11. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. The firm had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.42 billion. During the same quarter in the previous year, the business earned $3.83 EPS. The business's revenue was down 4.3% on a year-over-year basis. Equities research analysts anticipate 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. 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 annualized dividend and a dividend yield of 0.7%. PulteGroup's dividend payout ratio is currently 6.58%.

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.