USS Investment Management Ltd Has $3.72 Million Stock Holdings in PulteGroup, Inc. $PHM

Key Points

• USS Investment Management Ltd decreased its stake in PulteGroup, Inc. by 22.8%, selling 10,700 shares, leaving them with a total of 36,132 shares worth approximately $3.7 million.
• Brokerages have issued positive ratings for PulteGroup, with Wedbush maintaining an "outperform" rating and a target price of $150.00, reflecting strong confidence in the company's growth prospects.
• PulteGroup recently reported quarterly earnings of $3.03 EPS, surpassing analyst expectations, although revenue declined by 4.3% year-over-year.

USS Investment Management Ltd cut its stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 22.8% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 36,132 shares of the construction company's stock after selling 10,700 shares during the period. USS Investment Management Ltd's holdings in PulteGroup were worth $3,715,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Fiduciary Trust Co lifted its stake in PulteGroup by 19.5% during the fourth quarter. Fiduciary Trust Co now owns 2,593 shares of the construction company's stock worth $282,000 after purchasing an additional 423 shares during the last quarter. Ensign Peak Advisors Inc boosted its holdings in PulteGroup by 4.1% in the fourth quarter. Ensign Peak Advisors Inc now owns 101,163 shares of the construction company's stock worth $11,017,000 after purchasing an additional 4,005 shares during the period. Focus Partners Wealth boosted its holdings in PulteGroup by 8.6% in the fourth quarter. Focus Partners Wealth now owns 10,389 shares of the construction company's stock worth $1,133,000 after purchasing an additional 827 shares during the period. Graham Capital Management L.P. acquired a new position in PulteGroup in the fourth quarter worth $958,000. Finally, Guardian Wealth Advisors LLC NC lifted its holdings in shares of PulteGroup by 33.7% in the 4th quarter. Guardian Wealth Advisors LLC NC now owns 2,103 shares of the construction company's stock worth $229,000 after purchasing an additional 530 shares during the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on PHM shares. Citigroup raised their price target on PulteGroup from $128.00 to $132.00 and gave the stock a "neutral" rating in a report 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. Royal Bank Of Canada lifted their target price on PulteGroup from $109.00 to $112.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 23rd. Oppenheimer lifted their target price on PulteGroup from $132.00 to $140.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. Finally, UBS Group lifted their target price on PulteGroup from $141.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. One equities 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $136.46.

PulteGroup Stock Up 2.5%

PulteGroup stock traded up $3.33 during trading hours on Thursday, hitting $138.74. The company had a trading volume of 1,735,505 shares, compared to its average volume of 1,940,085. The firm's fifty day moving average is $122.81 and its 200-day moving average is $109.04. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.77 and a quick 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 firm has a market capitalization of $27.37 billion, a P/E ratio of 10.37, a price-to-earnings-growth ratio of 0.40 and a beta of 1.27.

PulteGroup (NYSE:PHM - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The construction company reported $3.03 EPS for the quarter, beating analysts' consensus estimates of $2.92 by $0.11. PulteGroup had a return on equity of 21.01% and a net margin of 15.50%.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 company posted $3.83 earnings per share. The business's quarterly revenue was down 4.3% compared to the same quarter last year. On average, research analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 16th will be given a $0.22 dividend. 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 payout ratio is currently 6.58%.

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.