SCS Capital Management LLC Takes Position in PulteGroup, Inc. $PHM

Key Points

• SCS Capital Management LLC invested $14.47 million in PulteGroup, acquiring 140,774 shares, which constitutes about 0.07% of the company.
• PulteGroup recently reported earnings of $3.03 EPS, exceeding expectations of $2.92, despite a 4.3% decline in revenue compared to the previous year.
• The company declared a quarterly dividend of $0.22 per share, with an annualized yield of 0.6%, set to be paid on October 2nd.

SCS Capital Management LLC acquired a new position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 140,774 shares of the construction company's stock, valued at approximately $14,472,000. SCS Capital Management LLC owned approximately 0.07% of PulteGroup at the end of the most recent quarter.

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

PulteGroup Trading Up 2.5%

PHM traded up $3.33 during trading on Thursday, hitting $138.74. The company's stock had a trading volume of 1,735,505 shares, compared to its average volume of 1,940,085. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month high of $149.47. The stock has a market cap of $27.37 billion, a PE ratio of 10.37, a PEG ratio of 0.40 and a beta of 1.27. The firm's 50 day moving average price is $122.81 and its 200-day moving average price 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 (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, beating analysts' consensus estimates of $2.92 by $0.11. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.42 billion. PulteGroup had a return on equity of 21.01% and a net margin of 15.50%.The business's revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.83 earnings per share. On average, analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Wedbush reiterated an "outperform" rating and issued a $150.00 price objective on shares of PulteGroup in a research report on Wednesday, August 13th. Wells Fargo & Company lifted their target price on shares of PulteGroup from $135.00 to $150.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 2nd. Royal Bank Of Canada upped their price target on shares of PulteGroup from $109.00 to $112.00 and gave the company a "sector perform" rating in a report on Wednesday, July 23rd. Citigroup raised their price target on PulteGroup from $128.00 to $132.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Finally, Seaport Res Ptn raised PulteGroup from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $136.46.

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.