PulteGroup, Inc. $PHM Shares Sold by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management B.V. reduced its holdings in PulteGroup, Inc. by 43.2%, selling 90,287 shares in the 2nd quarter, leaving it with a total of 118,569 shares valued at approximately $12.5 million.
• PulteGroup recently reported earnings of $3.03 EPS for the last quarter, exceeding analysts’ expectations, and announced a quarterly dividend of $0.22 per share.
• Wall Street analysts have largely positive views on PulteGroup, with one upgrading it to a "strong-buy" rating and several raising their price targets, resulting in an average target price of $137.31.

Robeco Institutional Asset Management B.V. decreased its holdings in PulteGroup, Inc. (NYSE:PHM - Free Report) by 43.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 118,569 shares of the construction company's stock after selling 90,287 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.06% of PulteGroup worth $12,504,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Nuveen LLC acquired a new position in PulteGroup during the first quarter worth about $213,092,000. Pacer Advisors Inc. increased its stake in PulteGroup by 2,586.8% in the 1st quarter. Pacer Advisors Inc. now owns 1,166,902 shares of the construction company's stock valued at $119,958,000 after purchasing an additional 1,123,471 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in PulteGroup by 40.3% during the first quarter. JPMorgan Chase & Co. now owns 3,486,330 shares of the construction company's stock worth $358,395,000 after purchasing an additional 1,001,290 shares during the last quarter. AustralianSuper Pty Ltd boosted its position in PulteGroup by 219.2% during the first quarter. AustralianSuper Pty Ltd now owns 1,039,107 shares of the construction company's stock worth $106,820,000 after purchasing an additional 713,534 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in PulteGroup in the first quarter valued at $53,262,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PHM has been the topic of several recent research reports. Seaport Res Ptn upgraded shares of PulteGroup from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 22nd. Oppenheimer upped their price target on shares of PulteGroup from $132.00 to $140.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. Wells Fargo & Company raised their price objective 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. Zacks Research raised PulteGroup from a "strong sell" rating to a "hold" rating in a research note on Friday, August 29th. Finally, Raymond James Financial reissued an "outperform" rating and set a $140.00 price target (up previously from $115.00) on shares of PulteGroup in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, PulteGroup presently has an average rating of "Moderate Buy" and an average target price of $137.31.

PulteGroup Stock Performance

PulteGroup stock opened at $137.70 on Monday. The stock has a fifty day moving average price of $129.39 and a 200 day moving average price of $112.28. PulteGroup, Inc. has a 52 week low of $88.07 and a 52 week high of $149.47. The firm has a market capitalization of $27.17 billion, a P/E ratio of 10.29, a PEG ratio of 0.40 and a beta of 1.29. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13.

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

PulteGroup Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 16th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Tuesday, September 16th. PulteGroup's payout ratio is currently 6.58%.

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.

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