DoubleLine ETF Adviser LP Purchases New Stake in PulteGroup, Inc. $PHM

Key Points

• DoubleLine ETF Adviser LP has made a new investment in PulteGroup, Inc., purchasing 4,956 shares valued at approximately $509,000 during the first quarter.
• PulteGroup recently reported a quarterly earnings of $3.03 per share, exceeding analyst expectations, although revenue declined 4.3% year-over-year.
• The company declared a quarterly dividend of $0.22 per share, with a dividend yield of 0.6%, to be paid on October 2nd.

DoubleLine ETF Adviser LP acquired a new stake in PulteGroup, Inc. (NYSE:PHM - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 4,956 shares of the construction company's stock, valued at approximately $509,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. WPG Advisers LLC purchased a new stake in shares of PulteGroup in the 1st quarter valued at about $25,000. Ameriflex Group Inc. purchased a new position in shares of PulteGroup in the fourth quarter worth $37,000. American National Bank & Trust bought a new stake in shares of PulteGroup in the first quarter worth $39,000. Catalyst Capital Advisors LLC purchased a new stake in PulteGroup during the first quarter valued at $54,000. Finally, Quarry LP increased its position in PulteGroup by 43.8% in the first quarter. Quarry LP now owns 571 shares of the construction company's stock worth $59,000 after buying an additional 174 shares in the last quarter. Institutional investors own 89.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. UBS Group increased their price target on PulteGroup from $141.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Wedbush reiterated an "outperform" rating and issued a $150.00 price target on shares of PulteGroup in a report on Wednesday, August 13th. Royal Bank Of Canada raised their price objective on PulteGroup from $109.00 to $112.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 23rd. Wells Fargo & Company lifted their price objective on PulteGroup from $135.00 to $150.00 and gave the company an "overweight" rating in a research note on Tuesday, September 2nd. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $140.00 target price (up from $115.00) on shares of PulteGroup in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, PulteGroup has an average rating of "Moderate Buy" and a consensus price target of $136.46.

PulteGroup Price Performance

NYSE:PHM traded up $2.92 during trading hours on Friday, reaching $140.53. 2,189,499 shares of the company's stock were exchanged, compared to its average volume of 1,937,428. The company 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 1.26. The business's 50-day simple moving average is $120.49 and its two-hundred day simple moving average is $108.13. 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, Inc. has a 12 month low of $88.07 and a 12 month high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last posted 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 company had revenue of $4.40 billion for 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 business's revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.83 EPS. Sell-side analysts expect that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Investors 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 dividend on an annualized basis and a yield of 0.6%. PulteGroup's dividend payout ratio (DPR) 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.