Federation des caisses Desjardins du Quebec Sells 15,537 Shares of PulteGroup, Inc. $PHM

Key Points

• Federation des caisses Desjardins du Quebec sold 15,537 shares of PulteGroup, Inc., reducing its holdings by 53.1% to own 13,750 shares valued at approximately $1.41 million.
• PulteGroup recently reported an EPS of $3.03 for the last quarter, exceeding expectations, yet saw a 4.3% decline in revenue compared to the previous year.
• The company announced a quarterly dividend of $0.22 per share, reflecting a 0.6% yield, with the ex-dividend date set for September 16th.

Federation des caisses Desjardins du Quebec reduced its holdings in PulteGroup, Inc. (NYSE:PHM - Free Report) by 53.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,750 shares of the construction company's stock after selling 15,537 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in PulteGroup were worth $1,414,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of PHM. WPG Advisers LLC bought a new stake in shares of PulteGroup in the first quarter worth about $25,000. Ameriflex Group Inc. acquired a new position in shares of PulteGroup during the fourth quarter worth about $37,000. American National Bank & Trust acquired a new position in shares of PulteGroup during the first quarter worth about $39,000. Catalyst Capital Advisors LLC acquired a new position in shares of PulteGroup during the first quarter worth about $54,000. Finally, Quarry LP boosted its position in shares of PulteGroup by 43.8% during the first quarter. Quarry LP now owns 571 shares of the construction company's stock worth $59,000 after buying an additional 174 shares during the period. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Stock Performance

Shares of NYSE PHM opened at $140.53 on Monday. The stock has a 50 day moving average price of $120.49 and a 200 day moving average price of $108.13. 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 $27.73 billion, a PE ratio of 10.50, a price-to-earnings-growth ratio of 0.41 and a beta of 1.26.

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

PulteGroup Dividend Announcement

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 paid a $0.22 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $0.88 annualized dividend and a yield of 0.6%. PulteGroup's dividend payout ratio is currently 6.58%.

Analysts Set New Price Targets

PHM has been the subject of several recent research reports. Wedbush reaffirmed an "outperform" rating and set a $150.00 price objective on shares of PulteGroup in a research report on Wednesday, August 13th. JPMorgan Chase & Co. upped their price objective on PulteGroup from $121.00 to $123.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Citigroup upped their price objective on PulteGroup from $128.00 to $132.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Wells Fargo & Company upped their price objective on PulteGroup from $135.00 to $150.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 2nd. Finally, Seaport Res Ptn raised PulteGroup from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $136.46.

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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