OMERS ADMINISTRATION Corp Raises Stock Holdings in PulteGroup, Inc. $PHM

Key Points

• OMERS ADMINISTRATION Corp increased its stake in PulteGroup, Inc. by 22.1%, acquiring an additional 4,088 shares, bringing its total to 22,563 shares valued at approximately $2.32 million.
• PulteGroup reported earnings of $3.03 per share for the last quarter, exceeding expectations, but net revenue fell by 4.3% compared to the previous year.
• Analysts have raised price targets for PulteGroup, with UBS Group setting a new target at $150 and a consensus target across brokerages now averaging $135.31.

OMERS ADMINISTRATION Corp lifted its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 22.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,563 shares of the construction company's stock after acquiring an additional 4,088 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in PulteGroup were worth $2,319,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in PHM. Ameriflex Group Inc. bought a new stake in shares of PulteGroup in the fourth quarter valued at about $37,000. American National Bank & Trust purchased a new stake in shares of PulteGroup during the first quarter valued at about $39,000. Quarry LP purchased a new stake in shares of PulteGroup during the fourth quarter valued at about $43,000. Catalyst Capital Advisors LLC purchased a new stake in shares of PulteGroup during the first quarter valued at about $54,000. Finally, Sentry Investment Management LLC purchased a new stake in shares of PulteGroup during the first quarter valued at about $61,000. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Price Performance

PHM stock traded up $4.04 during midday trading on Thursday, reaching $137.34. The stock had a trading volume of 1,208,295 shares, compared to its average volume of 2,149,425. The company's fifty day simple moving average is $119.12 and its 200 day simple moving average is $107.64. 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 company has a market cap of $27.10 billion, a price-to-earnings ratio of 10.23, a price-to-earnings-growth ratio of 0.39 and a beta of 1.27. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.03 earnings per share for the quarter, beating analysts' consensus estimates of $2.92 by $0.11. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates 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 quarter last year, the firm posted $3.83 EPS. As a group, sell-side analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

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 issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.6%. PulteGroup's dividend payout ratio is presently 6.58%.

Wall Street Analyst Weigh In

PHM has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their price objective 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 increased their price target on shares of PulteGroup from $135.00 to $150.00 and gave the stock an "overweight" rating in a report on Tuesday. Wedbush reiterated an "outperform" rating and issued a $150.00 price target on shares of PulteGroup in a report on Wednesday, August 13th. Royal Bank Of Canada upped their price objective on PulteGroup from $109.00 to $112.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 23rd. Finally, Citigroup upped their price objective on PulteGroup from $128.00 to $132.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. One equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $136.46.

PulteGroup 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.