Drucker Wealth 3.0 LLC Invests $746,000 in PulteGroup, Inc. $PHM

Key Points

• Drucker Wealth 3.0 LLC invested $746,000 in PulteGroup, Inc., acquiring 6,555 shares in the second quarter.
• PulteGroup reported an EPS of $3.03 for the last quarter, exceeding expectations of $2.92, although revenue decreased by 4.3% compared to the previous year.
• The company's recent dividend payout was $0.22 per share, providing an annualized yield of 0.7%.

Drucker Wealth 3.0 LLC bought a new position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 6,555 shares of the construction company's stock, valued at approximately $746,000.

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

PulteGroup Trading Down 1.2%

PulteGroup stock opened at $119.92 on Friday. PulteGroup, Inc. has a 52 week low of $88.07 and a 52 week high of $149.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a market capitalization of $23.66 billion, a P/E ratio of 8.96, a PEG ratio of 0.36 and a beta of 1.29. The stock has a 50-day simple moving average of $130.52 and a 200 day simple moving average of $112.93.

PulteGroup (NYSE:PHM - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The construction company reported $3.03 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 company had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.42 billion. During the same period in the previous year, the company posted $3.83 EPS. The firm's revenue for the quarter was down 4.3% compared to the same quarter last year. Analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 16th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 16th. PulteGroup's payout ratio is 6.58%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PHM shares. Seaport Res Ptn raised shares of PulteGroup from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 22nd. Wedbush reaffirmed an "outperform" rating and issued a $150.00 target price on shares of PulteGroup in a research report on Wednesday, August 13th. Oppenheimer raised their price objective on PulteGroup from $132.00 to $140.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada raised 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. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of PulteGroup in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $136.92.

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.

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