Financial Strategies Group Inc. Makes New Investment in PulteGroup, Inc. $PHM

Key Points

• Financial Strategies Group Inc. invested approximately $5.36 million in PulteGroup, acquiring 56,569 shares, which represents 1.3% of its total holdings and makes PulteGroup its 26th largest position.
• Wall Street analysts are optimistic about PulteGroup, with multiple upgrades, including a "strong-buy" rating from Seaport Res Ptn and price targets raised to as high as $150.00.
• PulteGroup recently announced a quarterly dividend of $0.22 per share, with an ex-dividend date of September 16, representing an annual yield of 0.6%.

Financial Strategies Group Inc. purchased 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 Securities and Exchange Commission (SEC). The firm purchased 56,569 shares of the construction company's stock, valued at approximately $5,362,000. PulteGroup makes up 1.3% of Financial Strategies Group Inc.'s holdings, making the stock its 26th biggest position.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tocqueville Asset Management L.P. grew its stake in PulteGroup by 2.0% in the 1st quarter. Tocqueville Asset Management L.P. now owns 5,062 shares of the construction company's stock valued at $520,000 after acquiring an additional 100 shares during the last quarter. NDVR Inc. increased its holdings in PulteGroup by 6.0% during the 4th quarter. NDVR Inc. now owns 1,984 shares of the construction company's stock valued at $216,000 after acquiring an additional 112 shares in the last quarter. Golden State Wealth Management LLC increased its holdings in PulteGroup by 15.9% during the 1st quarter. Golden State Wealth Management LLC now owns 909 shares of the construction company's stock valued at $93,000 after acquiring an additional 125 shares in the last quarter. Signaturefd LLC increased its holdings in PulteGroup by 1.9% during the 1st quarter. Signaturefd LLC now owns 6,644 shares of the construction company's stock valued at $683,000 after acquiring an additional 127 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. increased its holdings in PulteGroup by 6.3% during the 1st quarter. McGlone Suttner Wealth Management Inc. now owns 2,234 shares of the construction company's stock valued at $230,000 after acquiring an additional 133 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company's stock.

PulteGroup Trading Down 0.9%

PHM stock traded down $1.23 on Wednesday, hitting $135.49. 2,184,355 shares of the company were exchanged, compared to its average volume of 2,161,025. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a market capitalization of $26.73 billion, a price-to-earnings ratio of 10.13, a price-to-earnings-growth ratio of 0.42 and a beta of 1.26. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month high of $149.47. The business's fifty day moving average is $122.22 and its two-hundred day moving average is $108.78.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.03 EPS for the quarter, topping analysts' consensus estimates of $2.92 by $0.11. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.42 billion. PulteGroup had a return on equity of 21.01% and a net margin of 15.50%.The business's revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $3.83 EPS. As a group, research analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 16th. PulteGroup's payout ratio is currently 6.58%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PHM. Zacks Research upgraded PulteGroup from a "strong sell" rating to a "hold" rating in a report on Friday, August 29th. Citigroup increased their target price on PulteGroup from $128.00 to $132.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Seaport Res Ptn upgraded PulteGroup from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 22nd. Raymond James Financial reiterated an "outperform" rating and set a $140.00 target price (up previously from $115.00) on shares of PulteGroup in a report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. increased their target price on PulteGroup from $121.00 to $123.00 and gave the company an "overweight" rating in a report 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 issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $136.46.

PulteGroup Company 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.