Cinctive Capital Management LP Purchases New Position in PulteGroup, Inc. $PHM

Key Points

• Cinctive Capital Management LP invested approximately $495,000 in PulteGroup, acquiring 4,820 shares during the first quarter.
• PulteGroup reported an EPS of $3.03 for the last quarter, exceeding analyst estimates by $0.11, despite a 4.3% year-over-year decline in revenue.
• The company declared a quarterly dividend of $0.22, with an annualized yield of 0.6%, set to be paid on October 2nd.

Cinctive Capital Management LP purchased a new position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,820 shares of the construction company's stock, valued at approximately $495,000.

Several other large investors also recently added to or reduced their stakes in PHM. Merit Financial Group LLC raised its holdings in shares of PulteGroup by 20.5% in the 1st quarter. Merit Financial Group LLC now owns 15,388 shares of the construction company's stock valued at $1,582,000 after purchasing an additional 2,613 shares in the last quarter. Vest Financial LLC raised its holdings in shares of PulteGroup by 1,311.3% in the 1st quarter. Vest Financial LLC now owns 312,723 shares of the construction company's stock valued at $32,148,000 after purchasing an additional 290,564 shares in the last quarter. Hudson Capital Management LLC raised its holdings in shares of PulteGroup by 8.6% in the 1st quarter. Hudson Capital Management LLC now owns 41,305 shares of the construction company's stock valued at $4,246,000 after purchasing an additional 3,266 shares in the last quarter. NBC Securities Inc. raised its holdings in shares of PulteGroup by 103,800.0% in the 1st quarter. NBC Securities Inc. now owns 5,195 shares of the construction company's stock valued at $534,000 after purchasing an additional 5,190 shares in the last quarter. Finally, Reyes Financial Architecture Inc. raised its holdings in shares of PulteGroup by 42.1% in the 1st quarter. Reyes Financial Architecture Inc. now owns 770 shares of the construction company's stock valued at $79,000 after purchasing an additional 228 shares in the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Wedbush restated an "outperform" rating and set a $150.00 price target on shares of PulteGroup in a research note on Wednesday, August 13th. 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 note on Wednesday, July 23rd. Raymond James Financial restated an "outperform" rating and set a $140.00 price target (up previously from $115.00) on shares of PulteGroup in a research note 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 note on Tuesday, September 2nd. Finally, UBS Group upped their price target on shares of PulteGroup from $141.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. One 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. Based on data from MarketBeat, PulteGroup has a consensus rating of "Moderate Buy" and an average price target of $136.46.

PulteGroup Price Performance

Shares of NYSE PHM traded up $0.84 during trading on Monday, hitting $141.41. The company had a trading volume of 1,904,827 shares, compared to its average volume of 1,937,428. The stock has a fifty day simple moving average of $121.20 and a two-hundred day simple moving average of $108.40. PulteGroup, Inc. has a fifty-two week low of $88.07 and a fifty-two week high of $149.47. The firm has a market capitalization of $27.90 billion, a price-to-earnings ratio of 10.57, a price-to-earnings-growth ratio of 0.41 and a beta of 1.26. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.13.

PulteGroup (NYSE:PHM - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The construction company reported $3.03 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $4.42 billion. During the same period last year, the firm posted $3.83 earnings per share. The company's revenue for the quarter was down 4.3% on a year-over-year basis. On average, research analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Announces Dividend

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 $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 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.