PulteGroup, Inc. $PHM Shares Acquired by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. significantly increased its holdings in PulteGroup, Inc. by 1,248.6% during the second quarter, now owning 435,580 shares valued at approximately $45.9 million.
• PulteGroup reported $3.03 earnings per share for the last quarter, exceeding analysts' expectations of $2.92, although its revenue of $4.40 billion fell short of the forecasted $4.42 billion.
• The company announced a quarterly dividend of $0.22 per share, scheduled for payment on October 2nd, with a dividend yield of 0.7%.

Assenagon Asset Management S.A. increased its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 1,248.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 435,580 shares of the construction company's stock after buying an additional 403,281 shares during the quarter. Assenagon Asset Management S.A. owned 0.22% of PulteGroup worth $45,936,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of PHM. JPMorgan Chase & Co. lifted its position in shares of PulteGroup by 40.3% in the first quarter. JPMorgan Chase & Co. now owns 3,486,330 shares of the construction company's stock worth $358,395,000 after buying an additional 1,001,290 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of PulteGroup by 11.8% in the 1st quarter. Ameriprise Financial Inc. now owns 2,570,022 shares of the construction company's stock valued at $264,216,000 after purchasing an additional 271,917 shares during the period. Nuveen LLC acquired a new position in shares of PulteGroup in the 1st quarter worth approximately $213,092,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of PulteGroup by 21.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,579,792 shares of the construction company's stock worth $162,403,000 after acquiring an additional 276,077 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in PulteGroup by 25.6% during the 1st quarter. Victory Capital Management Inc. now owns 1,397,409 shares of the construction company's stock worth $143,654,000 after buying an additional 284,627 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company's stock.

PulteGroup Stock Performance

NYSE PHM opened at $131.95 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 0.77. PulteGroup, Inc. has a fifty-two week low of $88.07 and a fifty-two week high of $149.47. The stock has a market cap of $26.03 billion, a PE ratio of 9.86, a PEG ratio of 0.39 and a beta of 1.27. The firm's fifty day moving average price is $125.53 and its two-hundred day moving average price is $110.34.

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. 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 analysts' expectations of $4.42 billion. During the same quarter in the previous year, the firm posted $3.83 earnings per share. PulteGroup's revenue for the quarter was down 4.3% on a year-over-year basis. On average, equities analysts expect that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Announces Dividend

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 issued a dividend of $0.22 per share. The ex-dividend date is Tuesday, September 16th. This represents a $0.88 annualized dividend and a dividend yield of 0.7%. PulteGroup's dividend payout ratio is currently 6.58%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on PHM shares. Seaport Res Ptn raised PulteGroup from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 22nd. JPMorgan Chase & Co. increased their price target on PulteGroup from $121.00 to $123.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Zacks Research raised PulteGroup from a "strong sell" rating to a "hold" rating in a research note on Friday, August 29th. Oppenheimer increased their price target on PulteGroup from $132.00 to $140.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. Finally, Citigroup upped their price objective on shares of PulteGroup from $128.00 to $132.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $136.46.

PulteGroup Company 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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