Intech Investment Management LLC Cuts Position in PulteGroup, Inc. $PHM

Key Points

• Intech Investment Management LLC significantly reduced its position in PulteGroup by 46.6%, selling 31,692 shares to hold 36,365 shares valued at approximately $3.74 million.
• PulteGroup's last quarterly earnings reported an EPS of $3.03, surpassing estimates, while revenue decreased by 4.3% year-over-year.
• The company announced a quarterly dividend of $0.22 per share, with a payout ratio of 6.58% and a yield of 0.6%, aimed at rewarding shareholders.

Intech Investment Management LLC decreased its position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 46.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,365 shares of the construction company's stock after selling 31,692 shares during the period. Intech Investment Management LLC's holdings in PulteGroup were worth $3,738,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nuveen LLC purchased a new position in shares of PulteGroup during the 1st quarter valued at about $213,092,000. Pacer Advisors Inc. lifted its stake in PulteGroup by 2,586.8% in the first quarter. Pacer Advisors Inc. now owns 1,166,902 shares of the construction company's stock worth $119,958,000 after purchasing an additional 1,123,471 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of PulteGroup by 40.3% during the first quarter. JPMorgan Chase & Co. now owns 3,486,330 shares of the construction company's stock valued at $358,395,000 after purchasing an additional 1,001,290 shares during the period. AustralianSuper Pty Ltd grew its holdings in shares of PulteGroup by 219.2% in the first quarter. AustralianSuper Pty Ltd now owns 1,039,107 shares of the construction company's stock worth $106,820,000 after purchasing an additional 713,534 shares during the last quarter. Finally, Alyeska Investment Group L.P. purchased a new position in shares of PulteGroup in the first quarter worth $53,262,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

PulteGroup Trading Down 1.1%

Shares of PHM stock opened at $137.15 on Friday. The company has a current ratio of 0.77, a quick 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. The stock has a market capitalization of $27.06 billion, a P/E ratio of 10.25, a P/E/G ratio of 0.41 and a beta of 1.27. The firm's 50 day moving average is $123.37 and its 200 day moving average is $109.28.

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

PulteGroup Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on PHM. Seaport Res Ptn upgraded shares of PulteGroup from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 22nd. Wedbush reiterated an "outperform" rating and set a $150.00 target price on shares of PulteGroup in a report on Wednesday, August 13th. Zacks Research upgraded PulteGroup from a "strong sell" rating to a "hold" rating in a research note on Friday, August 29th. Royal Bank Of Canada lifted their price target on PulteGroup from $109.00 to $112.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 23rd. Finally, UBS Group increased their price objective on PulteGroup from $141.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. 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 company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus 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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