MBB Public Markets I LLC Buys New Position in PulteGroup, Inc. $PHM

Key Points

• MBB Public Markets I LLC has acquired a new position in PulteGroup, Inc. by buying 2,880 shares valued at approximately $296,000.
• PulteGroup's stock is currently valued at $138.74, with a market cap of $27.37 billion and a price-to-earnings (P/E) ratio of 10.37.
• The company recently declared a quarterly dividend of $0.22, set to be paid on October 2nd, representing an annual yield of 0.6%.

MBB Public Markets I LLC bought a new stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 2,880 shares of the construction company's stock, valued at approximately $296,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of PHM. WPG Advisers LLC acquired a new stake in PulteGroup in the 1st quarter worth $25,000. Ameriflex Group Inc. bought a new position in PulteGroup during the fourth quarter valued at about $37,000. American National Bank & Trust bought a new position in PulteGroup during the first quarter valued at about $39,000. Catalyst Capital Advisors LLC bought a new position in PulteGroup during the first quarter valued at about $54,000. Finally, Quarry LP increased its stake in PulteGroup by 43.8% during the first quarter. Quarry LP now owns 571 shares of the construction company's stock valued at $59,000 after acquiring an additional 174 shares during the period. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Stock Up 2.5%

Shares of PHM opened at $138.74 on Friday. The stock has a market cap of $27.37 billion, a price-to-earnings ratio of 10.37, a P/E/G ratio of 0.40 and a beta of 1.27. The company has a quick ratio of 0.77, a current 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 company has a 50-day moving average price of $122.81 and a two-hundred day moving average price of $109.04.

PulteGroup (NYSE:PHM - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $4.40 billion during the quarter, compared to analysts' expectations of $4.42 billion. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. The company's revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $3.83 earnings per share. Equities analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 16th will be given a $0.22 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $0.88 dividend on an annualized basis and a yield of 0.6%. PulteGroup's payout ratio is 6.58%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PHM shares. JPMorgan Chase & Co. boosted their price target on PulteGroup from $121.00 to $123.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Seaport Res Ptn upgraded PulteGroup from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 22nd. Oppenheimer boosted their price target on PulteGroup from $132.00 to $140.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. Raymond James Financial restated an "outperform" rating and set a $140.00 price target (up from $115.00) on shares of PulteGroup in a research note on Wednesday, July 23rd. Finally, Wells Fargo & Company boosted their price target on PulteGroup from $135.00 to $150.00 and gave the company an "overweight" rating in a research note on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, PulteGroup has a consensus rating of "Moderate Buy" and an average target price 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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