J. Safra Sarasin Holding AG Has $306,000 Stock Holdings in PulteGroup, Inc. $PHM

Key Points

• J. Safra Sarasin Holding AG reduced its holdings in PulteGroup by 85.5%, ending the second quarter with 2,906 shares valued at $306,000.
• Several hedge funds increased their stakes in PulteGroup, including Merit Financial Group which raised its position by 20.5%.
• Wall Street analysts have a consensus rating of "Moderate Buy" for PulteGroup, with a price target averaging $137.31, indicating further growth potential.

J. Safra Sarasin Holding AG lessened its holdings in PulteGroup, Inc. (NYSE:PHM - Free Report) by 85.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,906 shares of the construction company's stock after selling 17,187 shares during the period. J. Safra Sarasin Holding AG's holdings in PulteGroup were worth $306,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PHM. Merit Financial Group LLC raised its position in PulteGroup by 20.5% in the first quarter. Merit Financial Group LLC now owns 15,388 shares of the construction company's stock worth $1,582,000 after purchasing an additional 2,613 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in PulteGroup by 108.8% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 927 shares of the construction company's stock worth $95,000 after purchasing an additional 483 shares in the last quarter. Signal Advisors Wealth LLC raised its position in PulteGroup by 5.5% in the first quarter. Signal Advisors Wealth LLC now owns 3,126 shares of the construction company's stock worth $321,000 after purchasing an additional 162 shares in the last quarter. Elk River Wealth Management LLC raised its position in PulteGroup by 0.3% in the first quarter. Elk River Wealth Management LLC now owns 84,577 shares of the construction company's stock worth $8,713,000 after purchasing an additional 228 shares in the last quarter. Finally, UMB Bank n.a. raised its position in PulteGroup by 1.6% in the first quarter. UMB Bank n.a. now owns 11,443 shares of the construction company's stock worth $1,176,000 after purchasing an additional 182 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PHM. Raymond James Financial reaffirmed an "outperform" rating and set a $140.00 price objective (up previously from $115.00) on shares of PulteGroup in a report on Wednesday, July 23rd. Wedbush reaffirmed an "outperform" rating and set a $150.00 price objective on shares of PulteGroup in a report on Wednesday, August 13th. Zacks Research raised shares of PulteGroup from a "strong sell" rating to a "hold" rating in a report on Friday, August 29th. Oppenheimer raised their price objective on shares of PulteGroup from $132.00 to $140.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of PulteGroup in a report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $137.31.

PulteGroup Price Performance

PHM opened at $137.70 on Friday. PulteGroup, Inc. has a one year low of $88.07 and a one year high of $149.47. 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 company's 50 day simple moving average is $129.39 and its 200-day simple moving average is $112.23. The stock has a market capitalization of $27.17 billion, a P/E ratio of 10.29, a price-to-earnings-growth ratio of 0.40 and a beta of 1.29.

PulteGroup (NYSE:PHM - Get Free Report) last released 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 net margin of 15.50% and a return on equity of 21.01%. The business had revenue of $4.40 billion for the quarter, compared to analysts' expectations of $4.42 billion. During the same period in the prior year, the firm earned $3.83 earnings per share. PulteGroup's revenue was down 4.3% compared to the same quarter last year. Sell-side analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 16th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Tuesday, September 16th. PulteGroup's dividend payout ratio is 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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