QRG Capital Management Inc. Has $41.78 Million Stock Holdings in PulteGroup, Inc. $PHM

Key Points

• QRG Capital Management Inc. raised its stake in PulteGroup, Inc. by 2.6%, owning a total of 396,126 shares valued at $41.78 million as of the end of the second quarter.
• PulteGroup reported $3.03 earnings per share for the last quarter, exceeding analyst expectations, but revenue fell 4.3% year-over-year.
• The company declared a quarterly dividend of $0.22, resulting in an annualized dividend yield of 0.6%.

QRG Capital Management Inc. increased its stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 2.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 396,126 shares of the construction company's stock after buying an additional 9,903 shares during the period. QRG Capital Management Inc. owned 0.20% of PulteGroup worth $41,775,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in PHM. WPG Advisers LLC acquired a new position in shares of PulteGroup during the first quarter worth approximately $25,000. Catalyst Capital Advisors LLC bought a new position in PulteGroup in the 1st quarter worth approximately $54,000. Quarry LP raised its position in PulteGroup by 43.8% in the 1st quarter. Quarry LP now owns 571 shares of the construction company's stock worth $59,000 after purchasing an additional 174 shares during the last quarter. Sentry Investment Management LLC acquired a new position in PulteGroup during the 1st quarter worth $61,000. Finally, Grove Bank & Trust boosted its position in PulteGroup by 46.2% in the 1st quarter. Grove Bank & Trust now owns 760 shares of the construction company's stock valued at $78,000 after buying an additional 240 shares during the last quarter. Institutional investors own 89.90% of the company's stock.

PulteGroup Price Performance

PulteGroup stock opened at $137.70 on Friday. 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 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 business has a 50-day moving average of $129.39 and a 200-day moving average of $112.18. PulteGroup, Inc. has a 1 year low of $88.07 and a 1 year high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.42 billion. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. PulteGroup's revenue for the quarter was down 4.3% on a year-over-year basis. During the same period last year, the company posted $3.83 EPS. On average, equities analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Seaport Res Ptn upgraded PulteGroup from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 22nd. Royal Bank Of Canada lifted 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. Wells Fargo & Company boosted their price objective on PulteGroup from $135.00 to $150.00 and gave the stock an "overweight" rating in a report on Tuesday, September 2nd. Zacks Research raised shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research note on Friday, August 29th. Finally, JPMorgan Chase & Co. lifted their price target on shares of PulteGroup from $121.00 to $123.00 and gave the stock an "overweight" 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 six have given a Hold rating to the company's stock. According to MarketBeat.com, PulteGroup currently has an average rating of "Moderate Buy" and an average price target of $137.31.

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.

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