Nykredit A S Buys Shares of 58,034 PulteGroup, Inc. $PHM

Key Points

• Nykredit A/S initiated a position in PulteGroup by purchasing 58,034 shares valued at approximately $7.96 million. Institutional investors collectively own 89.90% of the company.
• PulteGroup reported quarterly earnings of $2.48 per share, exceeding analyst expectations of $2.36, while revenue of $3.98 billion also topped estimates. However, revenue declined 9.6% year over year.
• The company declared a quarterly dividend of $0.26 per share, equivalent to a 0.8% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $142.20.

Nykredit A S bought a new position in PulteGroup, Inc. (NYSE:PHM - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 58,034 shares of the construction company's stock, valued at approximately $7,963,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cedar Mountain Advisors LLC increased its holdings in PulteGroup by 1,650.0% in the first quarter. Cedar Mountain Advisors LLC now owns 210 shares of the construction company's stock worth $25,000 after buying an additional 198 shares during the last quarter. NFSG Corp acquired a new stake in PulteGroup in the first quarter valued at approximately $29,000. HHM Wealth Advisors LLC lifted its stake in PulteGroup by 158.5% in the first quarter. HHM Wealth Advisors LLC now owns 274 shares of the construction company's stock valued at $32,000 after acquiring an additional 168 shares during the last quarter. DV Equities LLC bought a new stake in PulteGroup in the fourth quarter worth approximately $32,000. Finally, Lloyd Advisory Services LLC. bought a new stake in PulteGroup in the fourth quarter worth approximately $33,000. 89.90% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Price Performance

NYSE PHM opened at $124.68 on Friday. PulteGroup, Inc. has a 1 year low of $108.49 and a 1 year high of $144.49. The company has a fifty day simple moving average of $128.73 and a 200 day simple moving average of $125.13. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.14. The company has a market cap of $23.37 billion, a P/E ratio of 12.74, a P/E/G ratio of 1.54 and a beta of 1.19.

PulteGroup (NYSE:PHM - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The construction company reported $2.48 EPS for the quarter, topping the consensus estimate of $2.36 by $0.12. The firm had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $3.94 billion. PulteGroup had a net margin of 11.62% and a return on equity of 15.21%. The business's quarterly revenue was down 9.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.03 EPS. On average, sell-side analysts predict that PulteGroup, Inc. will post 10.12 EPS for the current year.

PulteGroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 15th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 15th. PulteGroup's payout ratio is currently 10.62%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Citigroup restated a "market outperform" rating on shares of PulteGroup in a report on Tuesday, August 18th. Royal Bank Of Canada increased their target price on shares of PulteGroup from $115.00 to $116.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 23rd. Oppenheimer restated an "outperform" rating on shares of PulteGroup in a report on Tuesday, May 26th. UBS Group reaffirmed a "buy" rating and issued a $166.00 price target on shares of PulteGroup in a research report on Thursday, July 23rd. Finally, Evercore reiterated an "outperform" rating and set a $162.00 price target on shares of PulteGroup in a research note on Thursday, July 23rd. Thirteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $142.20.

About PulteGroup

PulteGroup, Inc NYSE: PHM is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.

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