International Assets Investment Management LLC Invests $2.16 Million in PulteGroup, Inc. $PHM

Key Points

• International Assets Investment Management LLC has invested approximately $2.16 million in PulteGroup, acquiring 20,499 shares during the second quarter.
• PulteGroup's stock has received favorable ratings from various brokerages, with JPMorgan and UBS raising their price targets, reflecting a consensus rating of "Moderate Buy" with an average price target of $136.92.
• The company recently announced a quarterly dividend of $0.22 per share, resulting in an annualized yield of 0.7% and a payout ratio of 6.58%.

International Assets Investment Management LLC bought a new position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 20,499 shares of the construction company's stock, valued at approximately $2,162,000.

A number of other hedge funds have also modified their holdings of the business. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of PulteGroup during the second quarter worth approximately $39,709,000. Nordea Investment Management AB grew its position in shares of PulteGroup by 2.8% during the second quarter. Nordea Investment Management AB now owns 897,079 shares of the construction company's stock worth $94,014,000 after acquiring an additional 24,236 shares during the last quarter. Praxis Investment Management Inc. purchased a new position in shares of PulteGroup during the second quarter worth approximately $478,000. Harbor Asset Planning Inc. purchased a new position in shares of PulteGroup during the second quarter worth approximately $199,000. Finally, Ritholtz Wealth Management grew its position in shares of PulteGroup by 29.7% during the second quarter. Ritholtz Wealth Management now owns 61,294 shares of the construction company's stock worth $6,464,000 after acquiring an additional 14,031 shares during the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PHM. JPMorgan Chase & Co. increased their price target on PulteGroup from $121.00 to $123.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. UBS Group increased their price target on PulteGroup from $141.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Evercore ISI set a $154.00 price target on PulteGroup and gave the stock an "in-line" rating in a report on Tuesday, October 7th. Zacks Research raised PulteGroup from a "strong sell" rating to a "hold" rating in a report on Friday, August 29th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of PulteGroup in a report on Wednesday, October 8th. One equities 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, PulteGroup has a consensus rating of "Moderate Buy" and an average price target of $136.92.

PulteGroup Price Performance

Shares of NYSE PHM opened at $124.29 on Friday. The firm has a market capitalization of $24.52 billion, a P/E ratio of 9.29, a PEG ratio of 0.37 and a beta of 1.29. PulteGroup, Inc. has a one year low of $88.07 and a one year high of $149.47. The company's fifty day moving average is $130.81 and its two-hundred day moving average is $113.69. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 0.77.

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. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.42 billion. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. The business's revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned $3.83 EPS. Analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Tuesday, September 16th. PulteGroup's payout ratio is presently 6.58%.

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.

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