MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Has $3.76 Million Stock Holdings in PulteGroup, Inc. $PHM

Key Points

• MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH significantly increased its shares in PulteGroup, Inc. by 3,568.0%, acquiring a total of 35,616 shares valued at $3.76 million by the end of the last reporting period.
• PulteGroup recently reported an earnings per share (EPS) of $3.03 for the quarter, exceeding analysts' estimates of $2.92, with a revenue of $4.40 billion, which was slightly lower than expectations.
• The company declared a quarterly dividend of $0.22, which signifies an annualized dividend yield of 0.7%, with the payment scheduled for October 2nd to investors recorded by September 16th.

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 3,568.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,616 shares of the construction company's stock after buying an additional 34,645 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in PulteGroup were worth $3,756,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. TD Private Client Wealth LLC grew its stake in shares of PulteGroup by 25.5% in the 2nd quarter. TD Private Client Wealth LLC now owns 3,168 shares of the construction company's stock valued at $334,000 after buying an additional 644 shares during the period. Ballentine Partners LLC boosted its stake in PulteGroup by 3.2% during the 2nd quarter. Ballentine Partners LLC now owns 3,630 shares of the construction company's stock valued at $383,000 after purchasing an additional 112 shares during the last quarter. Norden Group LLC boosted its stake in PulteGroup by 3.8% during the 2nd quarter. Norden Group LLC now owns 3,839 shares of the construction company's stock valued at $405,000 after purchasing an additional 141 shares during the last quarter. Accurate Wealth Management LLC boosted its stake in PulteGroup by 6.8% during the 2nd quarter. Accurate Wealth Management LLC now owns 3,507 shares of the construction company's stock valued at $404,000 after purchasing an additional 222 shares during the last quarter. Finally, Fifth Third Bancorp boosted its stake in PulteGroup by 2.4% during the 2nd quarter. Fifth Third Bancorp now owns 7,456 shares of the construction company's stock valued at $786,000 after purchasing an additional 177 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Trading Up 0.7%

NYSE:PHM opened at $130.91 on Thursday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $25.83 billion, a PE ratio of 9.78, a price-to-earnings-growth ratio of 0.38 and a beta of 1.27. The firm's 50 day moving average is $126.73 and its 200 day moving average is $110.77. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last posted 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 company had revenue of $4.40 billion for 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%. PulteGroup's revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.83 EPS. Sell-side analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Tuesday, September 16th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, September 16th. PulteGroup's payout ratio is 6.58%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. 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 note on Wednesday, July 23rd. Oppenheimer increased their target price on shares of PulteGroup from $132.00 to $140.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. Raymond James Financial reiterated an "outperform" rating and issued a $140.00 target price (up previously from $115.00) on shares of PulteGroup in a report on Wednesday, July 23rd. JPMorgan Chase & Co. increased their target price on shares of PulteGroup from $121.00 to $123.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Finally, UBS Group boosted their target price on PulteGroup from $141.00 to $150.00 and gave the stock a "buy" rating in a research note 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 assigned a Hold rating to the company. According to data from MarketBeat.com, PulteGroup has a consensus rating of "Moderate Buy" and an average 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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