518,112 Shares in PulteGroup, Inc. $PHM Purchased by Alyeska Investment Group L.P.

Key Points

• Alyeska Investment Group L.P. has acquired a new stake in PulteGroup, Inc. valued at approximately $53.26 million, holding 518,112 shares, which represents 0.26% of the company.
• Several other institutional investors, including JPMorgan Chase & Co. and Ameriprise Financial Inc., have also increased their stakes in PulteGroup during the first quarter.
• PulteGroup announced a quarterly dividend of $0.22 per share, providing a 0.7% dividend yield, to be paid on October 2nd to shareholders of record on September 16th.

Alyeska Investment Group L.P. bought a new position in PulteGroup, Inc. (NYSE:PHM - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 518,112 shares of the construction company's stock, valued at approximately $53,262,000. Alyeska Investment Group L.P. owned 0.26% of PulteGroup at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in PulteGroup by 40.3% in the first quarter. JPMorgan Chase & Co. now owns 3,486,330 shares of the construction company's stock worth $358,395,000 after purchasing an additional 1,001,290 shares during the period. Ameriprise Financial Inc. lifted its position in PulteGroup by 11.8% in the first quarter. Ameriprise Financial Inc. now owns 2,570,022 shares of the construction company's stock worth $264,216,000 after purchasing an additional 271,917 shares during the period. Nuveen LLC bought a new position in PulteGroup in the first quarter worth $213,092,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in PulteGroup by 9.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,033,776 shares of the construction company's stock worth $221,478,000 after purchasing an additional 169,736 shares during the period. Finally, Deutsche Bank AG lifted its position in PulteGroup by 14.3% in the fourth quarter. Deutsche Bank AG now owns 1,859,029 shares of the construction company's stock worth $202,448,000 after purchasing an additional 232,939 shares during the period. 89.90% of the stock is owned by institutional investors.

PulteGroup Price Performance

Shares of PulteGroup stock traded up $2.92 during trading on Friday, reaching $140.53. The company's stock had a trading volume of 2,189,499 shares, compared to its average volume of 1,902,655. The stock has a 50-day moving average price of $120.49 and a two-hundred day moving average price of $108.12. 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 one year low of $88.07 and a one year high of $149.47. The stock has a market capitalization of $27.73 billion, a P/E ratio of 10.50, a price-to-earnings-growth ratio of 0.41 and a beta of 1.27.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The construction company reported $3.03 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts' expectations of $4.42 billion. During the same period in the previous year, the business posted $3.83 earnings per share. The firm's revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 16th. PulteGroup's payout ratio is currently 6.58%.

Analysts Set New Price Targets

PHM has been the subject of a number of analyst reports. Wells Fargo & Company lifted their price objective on PulteGroup from $135.00 to $150.00 and gave the company an "overweight" rating in a report on Tuesday, September 2nd. Wedbush reissued an "outperform" rating and set a $150.00 price objective on shares of PulteGroup in a report on Wednesday, August 13th. Zacks Research raised PulteGroup from a "strong sell" rating to a "hold" rating in a report on Friday, August 29th. UBS Group lifted their price objective on PulteGroup from $141.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, 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. One 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. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target 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.