Rooted Wealth Advisors Inc. Makes New Investment in PulteGroup, Inc. $PHM

Key Points

• Rooted Wealth Advisors Inc. has acquired a new stake in PulteGroup, purchasing 2,153 shares valued at approximately $246,000 during the 2nd quarter.
• Institutional investors hold 89.90% of PulteGroup's stock, with several firms increasing their stakes in the company recently.
• PulteGroup reported $3.03 earnings per share (EPS) for the last quarter, exceeding consensus estimates, though revenue was down 4.3% year-over-year.

Rooted Wealth Advisors Inc. bought a new position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 2,153 shares of the construction company's stock, valued at approximately $246,000.

Other hedge funds also recently made changes to their positions in the company. WPG Advisers LLC bought a new position in PulteGroup in the first quarter valued at about $25,000. Ameriflex Group Inc. bought a new stake in shares of PulteGroup during the fourth quarter worth about $37,000. American National Bank & Trust bought a new stake in PulteGroup in the 1st quarter worth about $39,000. Catalyst Capital Advisors LLC purchased a new position in PulteGroup in the first quarter valued at about $54,000. Finally, Quarry LP lifted its holdings in PulteGroup by 43.8% during the first quarter. Quarry LP now owns 571 shares of the construction company's stock valued at $59,000 after purchasing an additional 174 shares during the last quarter. 89.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PHM. Wedbush restated an "outperform" rating and issued a $150.00 target price on shares of PulteGroup in a research note on Wednesday, August 13th. Citigroup increased their price target on shares of PulteGroup from $128.00 to $132.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada raised their price target on PulteGroup from $109.00 to $112.00 and gave the company a "sector perform" rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. upped their price objective on PulteGroup from $121.00 to $123.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Finally, UBS Group lifted their price target on PulteGroup from $141.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned 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 Performance

Shares of PHM stock traded down $2.65 during midday trading on Monday, hitting $129.25. The company had a trading volume of 2,172,513 shares, compared to its average volume of 2,087,894. The stock has a market cap of $25.50 billion, a price-to-earnings ratio of 9.66, a PEG ratio of 0.39 and a beta of 1.26. 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 company's 50 day simple moving average is $125.86 and its 200 day simple moving average is $110.50. 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 announced its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.03 EPS for the quarter, topping analysts' consensus estimates of $2.92 by $0.11. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. The company had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.42 billion. During the same quarter in the prior year, the firm earned $3.83 EPS. PulteGroup's quarterly revenue was down 4.3% on a year-over-year basis. Research analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Tuesday, September 16th will be paid 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 yield of 0.7%. PulteGroup's dividend payout ratio is presently 6.58%.

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.