Nomura Holdings Inc. Raises Stock Holdings in PulteGroup, Inc. $PHM

Key Points

• Nomura Holdings Inc. increased its stake in PulteGroup, Inc. by 670.8% in the first quarter, acquiring an additional 5,561 shares for a total of 6,390 shares worth $657,000.
• PulteGroup recently reported a quarterly EPS of $3.03, surpassing the consensus estimate and indicating a decrease in revenue of 4.3% year-over-year.
• The company declared a quarterly dividend of $0.22 per share, representing an annual yield of 0.6% and set to be paid on October 2nd.

Nomura Holdings Inc. grew its holdings in PulteGroup, Inc. (NYSE:PHM - Free Report) by 670.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,390 shares of the construction company's stock after acquiring an additional 5,561 shares during the period. Nomura Holdings Inc.'s holdings in PulteGroup were worth $657,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. WPG Advisers LLC bought a new stake in PulteGroup during the 1st quarter valued at approximately $25,000. Ameriflex Group Inc. purchased a new stake in PulteGroup during the 4th quarter valued at approximately $37,000. American National Bank & Trust bought a new stake in shares of PulteGroup during the first quarter valued at approximately $39,000. Catalyst Capital Advisors LLC bought a new position in shares of PulteGroup during the first quarter worth $54,000. Finally, Sentry Investment Management LLC bought a new position in shares of PulteGroup during the first quarter worth $61,000. Institutional investors own 89.90% of the company's stock.

PulteGroup Trading Up 2.1%

Shares of NYSE:PHM traded up $2.92 during trading on Friday, reaching $140.53. The company's stock had a trading volume of 2,189,499 shares, compared to its average volume of 1,902,655. The stock has a market capitalization of $27.73 billion, a PE ratio of 10.50, a price-to-earnings-growth ratio of 0.41 and a beta of 1.27. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $149.47. 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 firm's 50 day simple moving average is $120.49 and its two-hundred day simple moving average is $108.13.

PulteGroup (NYSE:PHM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.03 earnings per share 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 analysts' expectations of $4.42 billion. PulteGroup had a return on equity of 21.01% and a net margin of 15.50%.The firm's revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the previous year, the firm posted $3.83 earnings per share. On average, research analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current fiscal 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 dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.6%. The ex-dividend date is Tuesday, September 16th. PulteGroup's dividend payout ratio is presently 6.58%.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of PulteGroup from $121.00 to $123.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Wells Fargo & Company lifted their target price on PulteGroup from $135.00 to $150.00 and gave the stock an "overweight" rating in a report on Tuesday, September 2nd. Seaport Res Ptn upgraded PulteGroup from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 22nd. UBS Group raised their price target on PulteGroup from $141.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $140.00 price objective (up from $115.00) on shares of PulteGroup in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, PulteGroup currently has an average rating of "Moderate Buy" and a consensus 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.