Montgomery Investment Management Inc. Acquires New Stake in PulteGroup, Inc. $PHM

Key Points

• Montgomery Investment Management Inc. has acquired a new stake in PulteGroup, Inc., purchasing 6,000 shares valued at approximately $633,000 during the 2nd quarter.
• PulteGroup recently reported second-quarter earnings of $3.03 per share, exceeding estimates, despite a revenue decrease of 4.3% compared to the previous year.
• The company announced a quarterly dividend of $0.22, representing a 0.7% dividend yield, to be paid on October 2nd to stockholders of record.

Montgomery Investment Management Inc. bought a new stake in PulteGroup, Inc. (NYSE:PHM - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 6,000 shares of the construction company's stock, valued at approximately $633,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PHM. WPG Advisers LLC purchased a new stake in PulteGroup in the 1st quarter valued at approximately $25,000. Catalyst Capital Advisors LLC purchased a new stake in shares of PulteGroup in the first quarter valued at approximately $54,000. Quarry LP boosted its stake in shares of PulteGroup by 43.8% in the first quarter. Quarry LP now owns 571 shares of the construction company's stock valued at $59,000 after buying an additional 174 shares in the last quarter. Sentry Investment Management LLC purchased a new stake in shares of PulteGroup in the first quarter valued at approximately $61,000. Finally, Grove Bank & Trust boosted its position in shares of PulteGroup by 46.2% during the 1st quarter. Grove Bank & Trust now owns 760 shares of the construction company's stock worth $78,000 after purchasing an additional 240 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company's stock.

PulteGroup Stock Up 1.9%

Shares of NYSE PHM opened at $134.63 on Thursday. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-month high of $149.47. The company has a market capitalization of $26.56 billion, a PE ratio of 10.06, a price-to-earnings-growth ratio of 0.39 and a beta of 1.29. 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 firm's 50-day moving average is $128.59 and its two-hundred day moving average is $111.73.

PulteGroup (NYSE:PHM - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The construction company reported $3.03 earnings per share (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 company had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.42 billion. During the same quarter in the prior year, the firm earned $3.83 earnings per share. The company's revenue for the quarter was down 4.3% compared to the same quarter last year. Equities analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Dividend Announcement

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

Wall Street Analyst Weigh In

PHM has been the topic of several research analyst reports. Oppenheimer boosted their target price on shares of PulteGroup from $132.00 to $140.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Wedbush reissued an "outperform" rating and set a $150.00 price objective on shares of PulteGroup in a report on Wednesday, August 13th. Seaport Res Ptn raised shares of PulteGroup from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 22nd. Zacks Research raised PulteGroup from a "strong sell" rating to a "hold" rating in a research note on Friday, August 29th. Finally, Royal Bank Of Canada boosted their price target on PulteGroup from $109.00 to $112.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, PulteGroup presently has a consensus rating of "Moderate Buy" and an average price target of $137.31.

PulteGroup 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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