PulteGroup, Inc. $PHM Stock Holdings Lifted by Wedge Capital Management L L P NC

Key Points

• Wedge Capital Management L L P NC increased its stake in PulteGroup, Inc. by 29.0%, owning 50,154 shares valued at approximately $5.29 million after acquiring additional shares in Q2.
• Several analysts have upgraded PulteGroup's ratings, with UBS raising the price target from $141.00 to $150.00 and Seaport Res Ptn moving shares from a "hold" to a "strong-buy" rating.
• PulteGroup reported $3.03 earnings per share for the last quarter, exceeding analysts' estimates, despite a 4.3% revenue decline year-over-year.

Wedge Capital Management L L P NC boosted its stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 29.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,154 shares of the construction company's stock after purchasing an additional 11,261 shares during the quarter. Wedge Capital Management L L P NC's holdings in PulteGroup were worth $5,289,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its stake in shares of PulteGroup by 1,248.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 435,580 shares of the construction company's stock worth $45,936,000 after acquiring an additional 403,281 shares during the period. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in PulteGroup by 21.0% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 95,552 shares of the construction company's stock valued at $10,094,000 after acquiring an additional 16,600 shares during the period. IFM Investors Pty Ltd increased its stake in PulteGroup by 5.0% in the 2nd quarter. IFM Investors Pty Ltd now owns 50,988 shares of the construction company's stock worth $5,377,000 after acquiring an additional 2,431 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in PulteGroup by 262.1% in the second quarter. Exchange Traded Concepts LLC now owns 11,085 shares of the construction company's stock worth $1,169,000 after buying an additional 8,024 shares in the last quarter. Finally, Vista Investment Partners LLC raised its holdings in PulteGroup by 1.4% during the 2nd quarter. Vista Investment Partners LLC now owns 19,793 shares of the construction company's stock valued at $2,087,000 after buying an additional 271 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company's stock.

PulteGroup Trading Down 1.6%

PulteGroup stock traded down $2.15 during mid-day trading on Friday, reaching $131.95. 5,783,612 shares of the company traded hands, compared to its average volume of 2,087,894. The firm's 50 day moving average price is $125.53 and its 200 day moving average price is $110.35. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.77 and a quick ratio of 0.77. The firm has a market capitalization of $26.03 billion, a price-to-earnings ratio of 9.86, a P/E/G ratio of 0.39 and a beta of 1.26. 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 released its earnings results on Tuesday, July 22nd. The construction company reported $3.03 EPS 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 firm had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.42 billion. During the same quarter in the previous year, the firm earned $3.83 earnings per share. The company's quarterly revenue was down 4.3% compared to the same quarter last year. On average, analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 16th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.88 annualized dividend and a yield of 0.7%. PulteGroup's dividend payout ratio is currently 6.58%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. UBS Group boosted their price target on PulteGroup from $141.00 to $150.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Wells Fargo & Company raised their price target on shares of PulteGroup from $135.00 to $150.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 2nd. Citigroup increased their price objective on PulteGroup from $128.00 to $132.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Raymond James Financial reissued an "outperform" rating and issued a $140.00 target price (up previously from $115.00) on shares of PulteGroup in a report on Wednesday, July 23rd. Finally, Oppenheimer increased their price objective on shares of PulteGroup from $132.00 to $140.00 and gave the company an "outperform" rating in a research note 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 assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target 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.