62,907 Shares in PulteGroup, Inc. $PHM Bought by Strs Ohio

Key Points

• Strs Ohio has acquired a new stake in PulteGroup, purchasing 62,907 shares valued at approximately $6.47 million in the first quarter.
• The company reported $3.03 earnings per share (EPS) in its last quarterly results, beating analysts' estimates, although revenue decreased by 4.3% compared to the same quarter last year.
• PulteGroup recently announced a quarterly dividend of $0.22 per share, with an annualized dividend yield of 0.6%, payable on October 2nd.

Strs Ohio acquired a new stake in PulteGroup, Inc. (NYSE:PHM - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 62,907 shares of the construction company's stock, valued at approximately $6,467,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. WPG Advisers LLC bought a new position in shares of PulteGroup in the first quarter valued at approximately $25,000. Ameriflex Group Inc. bought a new position in shares of PulteGroup in the fourth quarter worth $37,000. American National Bank & Trust bought a new stake in PulteGroup during the first quarter valued at $39,000. Catalyst Capital Advisors LLC bought a new stake in PulteGroup during the first quarter valued at $54,000. Finally, Quarry LP boosted its stake 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 buying an additional 174 shares during the period. 89.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have 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. JPMorgan Chase & Co. boosted their price target on PulteGroup from $121.00 to $123.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Raymond James Financial reaffirmed an "outperform" rating and set a $140.00 price objective (up from $115.00) on shares of PulteGroup in a research report on Wednesday, July 23rd. Oppenheimer boosted their price target on PulteGroup from $132.00 to $140.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Finally, Wedbush reissued an "outperform" rating and issued a $150.00 price target on shares of PulteGroup in a research report on Wednesday, August 13th. One equities research 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, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $136.46.

PulteGroup Trading Down 0.6%

PulteGroup stock traded down $0.85 during midday trading on Tuesday, reaching $133.99. The stock had a trading volume of 2,257,754 shares, compared to its average volume of 1,891,959. The firm has a market cap of $26.44 billion, a price-to-earnings ratio of 10.01, a price-to-earnings-growth ratio of 0.40 and a beta of 1.27. The company has a fifty day moving average of $124.40 and a 200 day moving average of $109.72. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $149.47. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.13.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.92 by $0.11. The firm 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%. The company's quarterly revenue was down 4.3% on a year-over-year basis. During the same period last year, the firm earned $3.83 earnings per share. On average, analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

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 issued 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 0.7%. PulteGroup's dividend payout ratio (DPR) is currently 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.