518,112 Shares in PulteGroup, Inc. $PHM Bought 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. acquired a new position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 518,112 shares of the construction company's stock, valued at approximately $53,262,000. Alyeska Investment Group L.P. owned approximately 0.26% of PulteGroup at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PHM. WPG Advisers LLC acquired a new position in PulteGroup during the 1st quarter worth approximately $25,000. Ameriflex Group Inc. acquired a new position in PulteGroup in the 4th quarter valued at approximately $37,000. American National Bank & Trust acquired a new position in PulteGroup in the 1st quarter valued at approximately $39,000. Catalyst Capital Advisors LLC acquired a new position in PulteGroup in the 1st quarter valued at approximately $54,000. Finally, Quarry LP increased its position 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 acquiring an additional 174 shares during the period. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Oppenheimer upped their price target on shares of PulteGroup from $132.00 to $140.00 and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada upped their price target on shares of PulteGroup from $109.00 to $112.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 23rd. Wells Fargo & Company upped their price target on shares of PulteGroup from $135.00 to $150.00 and gave the company an "overweight" rating in a research report on Tuesday, September 2nd. Zacks Research upgraded shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Friday, August 29th. Finally, Citigroup upped their price target on shares of PulteGroup from $128.00 to $132.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. One equities 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 company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $136.46.

PulteGroup Trading Down 4.1%

Shares of NYSE:PHM traded down $5.86 during trading on Tuesday, reaching $135.56. The stock had a trading volume of 1,664,393 shares, compared to its average volume of 2,151,909. The firm's fifty day moving average is $121.20 and its 200 day moving average is $108.40. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 0.77. PulteGroup, Inc. has a 52 week low of $88.07 and a 52 week high of $149.47. The stock has a market cap of $26.75 billion, a price-to-earnings ratio of 10.13, a P/E/G ratio of 0.41 and a beta of 1.26.

PulteGroup (NYSE:PHM - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.03 EPS for the quarter, beating 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 company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.42 billion. During the same period in the prior year, the firm posted $3.83 EPS. The company's quarterly revenue was down 4.3% on a year-over-year basis. As a group, equities analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The business also recently announced 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 0.6%. PulteGroup's dividend payout ratio is currently 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.