Praxis Investment Management Inc. Makes New Investment in PulteGroup, Inc. $PHM

Key Points

• Praxis Investment Management Inc. has made a new investment in PulteGroup, acquiring 4,530 shares valued at approximately $478,000.
• PulteGroup reported earnings of $3.03 per share in its latest quarter, which surpassed analysts' expectations, although revenue decreased by 4.3% year-over-year.
• The company announced a quarterly dividend of $0.22 per share, translating to an annual yield of 0.7% and a dividend payout ratio of 6.58%.

Praxis Investment Management Inc. purchased a new position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,530 shares of the construction company's stock, valued at approximately $478,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. WPG Advisers LLC acquired a new stake in PulteGroup during the first quarter worth about $25,000. Hager Investment Management Services LLC increased its stake in PulteGroup by 33.3% during the second quarter. Hager Investment Management Services LLC now owns 420 shares of the construction company's stock worth $44,000 after acquiring an additional 105 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new stake in shares of PulteGroup in the first quarter valued at about $54,000. REAP Financial Group LLC grew its stake in shares of PulteGroup by 188.1% in the second quarter. REAP Financial Group LLC now owns 533 shares of the construction company's stock valued at $56,000 after buying an additional 348 shares in the last quarter. Finally, Quarry LP grew 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. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Trading Up 0.3%

Shares of PHM opened at $124.29 on Friday. The company has a market capitalization of $24.52 billion, a P/E ratio of 9.29, a P/E/G ratio of 0.37 and a beta of 1.29. PulteGroup, Inc. has a one year low of $88.07 and a one year high of $149.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a 50-day moving average price of $130.81 and a 200 day moving average price of $113.69.

PulteGroup (NYSE:PHM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The construction company reported $3.03 EPS for the quarter, beating analysts' consensus estimates of $2.92 by $0.11. The firm had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.42 billion. PulteGroup had a return on equity of 21.01% and a net margin of 15.50%.PulteGroup's revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.83 earnings per share. Sell-side analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 16th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 16th. PulteGroup's dividend payout ratio (DPR) is currently 6.58%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Evercore ISI set a $154.00 target price on PulteGroup and gave the company an "in-line" rating in a research note on Tuesday, October 7th. JPMorgan Chase & Co. increased their target price on PulteGroup from $121.00 to $123.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Wedbush reiterated an "outperform" rating and issued a $150.00 target price on shares of PulteGroup in a research note on Wednesday, August 13th. Weiss Ratings reiterated a "hold (c+)" rating on shares of PulteGroup in a research note on Wednesday, October 8th. Finally, Seaport Res Ptn upgraded PulteGroup from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven 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 target price of $136.92.

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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