QRG Capital Management Inc. Acquires 13,312 Shares of PulteGroup, Inc. $PHM

Key Points

• QRG Capital Management increased its PulteGroup stake by 9.6% in the second quarter, adding 13,312 shares to own 151,274 shares worth approximately $20.8 million. Institutional investors collectively own 89.9% of PHM.
• PulteGroup reported quarterly EPS of $2.48, beating estimates of $2.36, while revenue reached $3.98 billion; however, revenue declined 9.6% year over year. The company declared a quarterly dividend of $0.26 per share, yielding about 0.9% annually.
• PHM shares opened at $118.83, down 2.8%, while analysts maintained a generally positive outlook. The stock carries a consensus “Moderate Buy” rating and an average price target of $140.93.

QRG Capital Management Inc. increased its stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 9.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 151,274 shares of the construction company's stock after buying an additional 13,312 shares during the period. QRG Capital Management Inc. owned 0.08% of PulteGroup worth $20,756,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Cedar Mountain Advisors LLC increased its holdings in shares of PulteGroup by 1,650.0% in the first quarter. Cedar Mountain Advisors LLC now owns 210 shares of the construction company's stock valued at $25,000 after purchasing an additional 198 shares in the last quarter. NFSG Corp acquired a new stake in shares of PulteGroup in the 1st quarter valued at $29,000. HHM Wealth Advisors LLC raised its position in shares of PulteGroup by 158.5% during the first quarter. HHM Wealth Advisors LLC now owns 274 shares of the construction company's stock worth $32,000 after acquiring an additional 168 shares during the last quarter. Mcdonald Partners LLC bought a new stake in shares of PulteGroup during the second quarter worth $43,000. Finally, Evelyn Partners Investment Management Services Ltd acquired a new position in shares of PulteGroup during the first quarter valued at $37,000. 89.90% of the stock is owned by institutional investors.

PulteGroup Stock Down 2.8%

Shares of NYSE:PHM opened at $118.83 on Thursday. The company has a 50 day moving average price of $126.12 and a two-hundred day moving average price of $123.40. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.78 and a current ratio of 0.78. The company has a market capitalization of $22.28 billion, a PE ratio of 12.14, a PEG ratio of 1.52 and a beta of 1.19. PulteGroup, Inc. has a 52 week low of $108.49 and a 52 week high of $144.49.

PulteGroup (NYSE:PHM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.12. PulteGroup had a return on equity of 15.21% and a net margin of 11.62%.The company had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $3.94 billion. During the same period in the prior year, the company earned $3.03 earnings per share. The company's revenue for the quarter was down 9.6% compared to the same quarter last year. Analysts forecast that PulteGroup, Inc. will post 10.07 earnings per share for the current year.

PulteGroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, September 15th. PulteGroup's dividend payout ratio (DPR) is 10.62%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PHM shares. Barclays lifted their price objective on PulteGroup from $123.00 to $124.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 23rd. Evercore reiterated an "outperform" rating and set a $162.00 price target on shares of PulteGroup in a research report on Thursday, July 23rd. Wells Fargo & Company dropped their price target on shares of PulteGroup from $150.00 to $145.00 and set an "overweight" rating for the company in a research note on Friday, September 11th. Royal Bank Of Canada increased their price objective on shares of PulteGroup from $115.00 to $116.00 and gave the company a "sector perform" rating in a report on Thursday, July 23rd. Finally, Citigroup reaffirmed a "market outperform" rating on shares of PulteGroup in a research note on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $140.93.

PulteGroup Company Profile

PulteGroup, Inc is a U.S. homebuilding company that designs, constructs and sells homes for a range of buyers, including first-time, move-up and active-adult customers. Its residential offerings include single-family homes, townhomes and communities in a variety of price ranges and styles.

The company operates through several well-known brands, including Pulte, Centex, Del Webb, DiVosta and American West Homes. Its communities are located across numerous metropolitan areas and regions in the United States, with operations spanning markets in the South, Southeast, Southwest, Midwest and West.

PulteGroup also provides mortgage lending and related title services to support home purchases through its financial-services operations.

Want to see what other hedge funds are holding PHM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PulteGroup, Inc. (NYSE:PHM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.