Caitlin John LLC Cuts Stake in PulteGroup, Inc. $PHM

Key Points

• Caitlin John LLC reduced its stake in PulteGroup, Inc. by 54% during the second quarter, resulting in a position valued at $333,000.
• PulteGroup's quarterly earnings topped estimates, reporting $3.03 EPS against a consensus of $2.92, although revenues decreased by 4.3% year-over-year.
• The company declared a quarterly dividend of $0.22, which will be paid to stockholders of record on September 16th, representing an annualized yield of 0.7%.

Caitlin John LLC lessened its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 54.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,160 shares of the construction company's stock after selling 3,713 shares during the quarter. Caitlin John LLC's holdings in PulteGroup were worth $333,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in PulteGroup by 40.3% during the first quarter. JPMorgan Chase & Co. now owns 3,486,330 shares of the construction company's stock worth $358,395,000 after acquiring an additional 1,001,290 shares during the period. Ameriprise Financial Inc. grew its position in shares of PulteGroup by 11.8% in the first quarter. Ameriprise Financial Inc. now owns 2,570,022 shares of the construction company's stock valued at $264,216,000 after purchasing an additional 271,917 shares in the last quarter. Nuveen LLC purchased a new position in shares of PulteGroup in the first quarter valued at $213,092,000. Price T Rowe Associates Inc. MD grew its position in PulteGroup by 21.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,579,792 shares of the construction company's stock worth $162,403,000 after buying an additional 276,077 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in PulteGroup by 25.6% during the first quarter. Victory Capital Management Inc. now owns 1,397,409 shares of the construction company's stock worth $143,654,000 after buying an additional 284,627 shares in the last quarter. Institutional investors own 89.90% of the company's stock.

PulteGroup Price Performance

Shares of PulteGroup stock traded down $2.65 during trading on Monday, reaching $129.25. 2,172,513 shares of the stock traded hands, compared to its average volume of 2,087,894. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.77 and a quick ratio of 0.77. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $149.47. The business has a fifty day simple moving average of $125.86 and a two-hundred day simple moving average of $110.50. The company has a market capitalization of $25.50 billion, a price-to-earnings ratio of 9.66, a P/E/G ratio of 0.39 and a beta of 1.26.

PulteGroup (NYSE:PHM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.11. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.42 billion. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. The firm's quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the firm earned $3.83 earnings per share. Sell-side analysts expect that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Dividend Announcement

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

Wall Street Analysts Forecast Growth

PHM has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price target on PulteGroup from $121.00 to $123.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Citigroup upped their price target on PulteGroup from $128.00 to $132.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Oppenheimer upped their target price on PulteGroup from $132.00 to $140.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. Seaport Res Ptn upgraded PulteGroup from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 22nd. Finally, Wedbush reaffirmed an "outperform" rating and issued a $150.00 price objective on shares of PulteGroup in a research report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.