Exchange Traded Concepts LLC Buys 8,024 Shares of PulteGroup, Inc. $PHM

Key Points

• Exchange Traded Concepts LLC increased its stake in PulteGroup, Inc. by 262.1%, purchasing an additional 8,024 shares and raising its total holdings to 11,085 shares.
• PulteGroup reported $3.03 earnings per share for the last quarter, exceeding analysts' expectations of $2.92, despite a 4.3% decline in quarterly revenue year-over-year.
• The firm announced a quarterly dividend of $0.22 per share, representing an annualized payout of $0.88 and a dividend yield of 0.7%.

Exchange Traded Concepts LLC boosted its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 262.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,085 shares of the construction company's stock after purchasing an additional 8,024 shares during the period. Exchange Traded Concepts LLC's holdings in PulteGroup were worth $1,169,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. WPG Advisers LLC bought a new stake in PulteGroup in the 1st quarter worth approximately $25,000. Ameriflex Group Inc. bought a new stake in PulteGroup in the 4th quarter worth approximately $37,000. American National Bank & Trust bought a new stake in PulteGroup in the 1st quarter worth approximately $39,000. Catalyst Capital Advisors LLC bought a new stake in PulteGroup in the 1st quarter worth approximately $54,000. Finally, Quarry LP grew its position in PulteGroup by 43.8% in the 1st quarter. Quarry LP now owns 571 shares of the construction company's stock worth $59,000 after purchasing an additional 174 shares during the period. Institutional investors own 89.90% of the company's stock.

PulteGroup Stock Down 2.0%

Shares of PHM stock opened at $129.25 on Tuesday. The company's fifty day simple moving average is $125.86 and its two-hundred day simple moving average is $110.50. PulteGroup, Inc. has a 52 week low of $88.07 and a 52 week high of $149.47. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.13. The stock has a market cap of $25.50 billion, a P/E ratio of 9.66, a PEG ratio of 0.39 and a beta of 1.26.

PulteGroup (NYSE:PHM - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The construction company reported $3.03 earnings per share for the quarter, topping analysts' consensus estimates 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 in the previous year, the firm posted $3.83 EPS. The business's quarterly revenue was down 4.3% on a year-over-year basis. Analysts predict 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. Stockholders of record on Tuesday, September 16th will be issued a $0.22 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.7%. PulteGroup's payout ratio is 6.58%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PHM shares. UBS Group lifted their price target on shares of PulteGroup from $141.00 to $150.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Wedbush reiterated an "outperform" rating and set a $150.00 price target on shares of PulteGroup in a research note on Wednesday, August 13th. Zacks Research upgraded shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research note on Friday, August 29th. Wells Fargo & Company lifted their price target on shares of PulteGroup from $135.00 to $150.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 2nd. Finally, Seaport Res Ptn upgraded shares of PulteGroup from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, PulteGroup has an average rating of "Moderate Buy" and a consensus price target of $136.46.

PulteGroup 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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