PulteGroup, Inc. $PHM Shares Acquired by Empowered Funds LLC

Key Points

• Empowered Funds LLC increased its holdings in PulteGroup, Inc. by 5.2% during the first quarter, now owning approximately 0.07% of the company valued at $14.9 million.
• Several hedge funds, including JPMorgan Chase & Co. and Ameriprise Financial Inc., significantly increased their stakes, indicating strong institutional interest with 89.90% of the stock held by institutional investors.
• PulteGroup's recent earnings report showed an EPS of $3.03, surpassing estimates, despite a 4.3% year-over-year revenue decline, and the firm also declared a quarterly dividend of $0.22 per share.

Empowered Funds LLC boosted its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 5.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 145,070 shares of the construction company's stock after purchasing an additional 7,182 shares during the quarter. Empowered Funds LLC owned about 0.07% of PulteGroup worth $14,913,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Logan Capital Management Inc. lifted its holdings in shares of PulteGroup by 5.1% during the 1st quarter. Logan Capital Management Inc. now owns 13,439 shares of the construction company's stock worth $1,382,000 after acquiring an additional 649 shares during the period. Dean Capital Management lifted its holdings in shares of PulteGroup by 2.6% during the 1st quarter. Dean Capital Management now owns 12,079 shares of the construction company's stock worth $1,242,000 after acquiring an additional 301 shares during the period. MBB Public Markets I LLC purchased a new position in shares of PulteGroup during the 1st quarter worth about $296,000. United Services Automobile Association purchased a new position in shares of PulteGroup during the 1st quarter worth about $462,000. Finally, Caxton Associates LLP purchased a new position in shares of PulteGroup during the 1st quarter worth about $2,088,000. Institutional investors and hedge funds own 89.90% of the company's stock.

PulteGroup Trading Up 2.5%

PHM traded up $3.33 on Thursday, reaching $138.74. 1,735,505 shares of the company's stock were exchanged, compared to its average volume of 1,940,085. The company's 50 day moving average is $122.81 and its 200-day moving average is $109.04. The company has a market cap of $27.37 billion, a price-to-earnings ratio of 10.37, a PEG ratio of 0.40 and a beta of 1.27. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month 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.

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 (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 during the quarter, compared to the consensus estimate of $4.42 billion. During the same quarter last year, the company earned $3.83 earnings per share. PulteGroup's revenue for the quarter was down 4.3% on a year-over-year basis. Equities analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.6%. PulteGroup's dividend payout ratio (DPR) is presently 6.58%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PHM. Oppenheimer increased their price objective on shares of PulteGroup from $132.00 to $140.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. Raymond James Financial reiterated 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. Royal Bank Of Canada increased their target price on shares of PulteGroup from $109.00 to $112.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 23rd. Citigroup increased their target price on shares of PulteGroup from $128.00 to $132.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. increased their target price on shares of PulteGroup from $121.00 to $123.00 and gave the stock an "overweight" 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 stock. According to MarketBeat.com, PulteGroup currently has a consensus rating of "Moderate Buy" and an average target price 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.