Caxton Associates LLP Purchases Shares of 20,314 PulteGroup, Inc. $PHM

Key Points

• Caxton Associates LLP acquired 20,314 shares of PulteGroup, Inc., valued at approximately $2,088,000, during the first quarter of the year.
• PulteGroup reported $3.03 earnings per share, exceeding analysts' expectations, alongside a quarterly revenue of $4.40 billion, which was below consensus estimates.
• The company announced a quarterly dividend of $0.22 to be paid on October 2nd, with a current payout ratio of 6.58%.

Caxton Associates LLP purchased a new stake in PulteGroup, Inc. (NYSE:PHM - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 20,314 shares of the construction company's stock, valued at approximately $2,088,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Voleon Capital Management LP acquired a new position in PulteGroup in the first quarter valued at approximately $262,000. Ashton Thomas Private Wealth LLC lifted its stake in PulteGroup by 23.6% in the first quarter. Ashton Thomas Private Wealth LLC now owns 3,108 shares of the construction company's stock valued at $320,000 after buying an additional 593 shares during the period. Kestra Investment Management LLC increased its holdings in shares of PulteGroup by 31.4% during the first quarter. Kestra Investment Management LLC now owns 2,526 shares of the construction company's stock valued at $260,000 after acquiring an additional 603 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of PulteGroup during the first quarter valued at approximately $704,000. Finally, Financial Strategies Group Inc. bought a new stake in shares of PulteGroup during the first quarter valued at approximately $5,362,000. 89.90% of the stock is owned by institutional investors and hedge funds.

PulteGroup Trading Up 0.6%

Shares of PulteGroup stock opened at $141.41 on Tuesday. The stock has a fifty day simple moving average of $121.20 and a 200 day simple moving average of $108.40. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-month high of $149.47. The company has a market capitalization of $27.90 billion, a P/E ratio of 10.57, a price-to-earnings-growth ratio of 0.41 and a beta of 1.26. 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 (NYSE:PHM - Get Free Report) last announced its quarterly earnings results 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. 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 the consensus estimate of $4.42 billion. During the same quarter in the prior year, the company posted $3.83 earnings per share. PulteGroup's revenue was down 4.3% compared to the same quarter last year. On average, sell-side analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 16th will be given a $0.22 dividend. 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 payout ratio is currently 6.58%.

Analysts Set New Price Targets

Several research firms have recently commented on PHM. Raymond James Financial restated an "outperform" rating and set a $140.00 price objective (up previously from $115.00) on shares of PulteGroup in a report on Wednesday, July 23rd. JPMorgan Chase & Co. boosted their price objective on PulteGroup from $121.00 to $123.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada boosted 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. UBS Group boosted 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, Zacks Research upgraded PulteGroup from a "strong sell" rating to a "hold" rating in a report on Friday, August 29th. One 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. According to MarketBeat.com, PulteGroup has a consensus rating of "Moderate Buy" and an average price target of $136.46.

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.

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