UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Increases Stock Position in PulteGroup, Inc. $PHM

Key Points

• UBS Asset Management increased its stake in PulteGroup, Inc. by 0.1% in the first quarter, owning a total of over 2 million shares valued at approximately $209 million.
• PulteGroup's stock is currently trading at $138.74, reflecting a market capitalization of $27.37 billion and reporting earnings of $3.03 per share, exceeding estimates.
• The company announced a quarterly dividend of $0.22 per share, with a dividend yield of 0.6%, set to be paid on October 2nd.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 0.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,036,295 shares of the construction company's stock after purchasing an additional 2,519 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 1.02% of PulteGroup worth $209,331,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Woodline Partners LP boosted its stake in shares of PulteGroup by 13.0% in the first quarter. Woodline Partners LP now owns 225,440 shares of the construction company's stock valued at $23,175,000 after purchasing an additional 25,921 shares during the period. Empowered Funds LLC boosted its stake in shares of PulteGroup by 5.2% in the first quarter. Empowered Funds LLC now owns 145,070 shares of the construction company's stock valued at $14,913,000 after purchasing an additional 7,182 shares during the period. Logan Capital Management Inc. boosted its stake in shares of PulteGroup by 5.1% in the first quarter. Logan Capital Management Inc. now owns 13,439 shares of the construction company's stock valued at $1,382,000 after purchasing an additional 649 shares during the period. Dean Capital Management boosted its stake in shares of PulteGroup by 2.6% in the first quarter. Dean Capital Management now owns 12,079 shares of the construction company's stock valued at $1,242,000 after purchasing an additional 301 shares during the period. Finally, MBB Public Markets I LLC purchased a new position in shares of PulteGroup in the first quarter valued at $296,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

PulteGroup Stock Up 2.5%

Shares of NYSE:PHM opened at $138.74 on Friday. The stock has a market capitalization of $27.37 billion, a price-to-earnings ratio of 10.37, a price-to-earnings-growth ratio of 0.40 and a beta of 1.27. PulteGroup, Inc. has a 1-year low of $88.07 and a 1-year high of $149.47. The company's fifty day moving average is $122.81 and its two-hundred day moving average is $109.04. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 0.77.

PulteGroup (NYSE:PHM - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The construction company reported $3.03 earnings per share for the quarter, topping analysts' consensus estimates of $2.92 by $0.11. The company had revenue of $4.40 billion for the quarter, compared to analysts' expectations of $4.42 billion. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. The firm's revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the company earned $3.83 earnings per share. Equities analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Tuesday, September 16th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 16th. PulteGroup's dividend payout ratio (DPR) is 6.58%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PHM. Raymond James Financial restated an "outperform" rating and issued a $140.00 target price (up from $115.00) on shares of PulteGroup in a research note on Wednesday, July 23rd. 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. Wells Fargo & Company upped their price target on shares of PulteGroup from $135.00 to $150.00 and gave the company an "overweight" rating in a report on Tuesday, September 2nd. JPMorgan Chase & Co. upped their price target on shares of PulteGroup from $121.00 to $123.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Finally, Wedbush reaffirmed an "outperform" rating and issued a $150.00 price target on shares of PulteGroup in a report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $136.46.

About PulteGroup

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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