VIRGINIA RETIREMENT SYSTEMS ET Al Buys Shares of 64,281 PulteGroup, Inc. $PHM

Key Points

• Virginia Retirement Systems bought 64,281 shares of PulteGroup worth approximately $8.82 million during the second quarter. Institutional investors collectively own 89.9% of PHM.
• Analysts maintain a favorable outlook, with 13 Buy ratings and five Holds producing a consensus “Moderate Buy” rating and a $142.20 target price.
• PulteGroup exceeded quarterly earnings and revenue expectations, reporting $2.48 in EPS and $3.98 billion in revenue, while declaring a quarterly dividend of $0.26 per share.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in PulteGroup, Inc. (NYSE:PHM - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 64,281 shares of the construction company's stock, valued at approximately $8,820,000.

A number of other hedge funds have also made changes to their positions in PHM. Cedar Mountain Advisors LLC grew its position in PulteGroup by 1,650.0% during the first quarter. Cedar Mountain Advisors LLC now owns 210 shares of the construction company's stock valued at $25,000 after purchasing an additional 198 shares in the last quarter. NFSG Corp purchased a new stake in PulteGroup in the 1st quarter worth approximately $29,000. HHM Wealth Advisors LLC boosted its stake in shares of PulteGroup by 158.5% during the 1st quarter. HHM Wealth Advisors LLC now owns 274 shares of the construction company's stock valued at $32,000 after buying an additional 168 shares during the period. DV Equities LLC purchased a new position in shares of PulteGroup during the 4th quarter valued at $32,000. Finally, Lloyd Advisory Services LLC. purchased a new position in shares of PulteGroup during the 4th quarter valued at $33,000. 89.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PHM has been the subject of several recent research reports. Citigroup reiterated a "market outperform" rating on shares of PulteGroup in a report on Tuesday, August 18th. Oppenheimer restated an "outperform" rating on shares of PulteGroup in a research note on Tuesday, May 26th. Wells Fargo & Company upped their target price on PulteGroup from $140.00 to $150.00 and gave the stock an "overweight" rating in a research report on Monday, July 6th. UBS Group reaffirmed a "buy" rating and set a $166.00 price target on shares of PulteGroup in a research note on Thursday, July 23rd. Finally, Weiss Ratings raised PulteGroup from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, August 21st. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, PulteGroup currently has a consensus rating of "Moderate Buy" and a consensus target price of $142.20.

PulteGroup Stock Down 3.3%

PHM stock opened at $120.36 on Wednesday. The firm has a market cap of $22.56 billion, a PE ratio of 12.29, a PEG ratio of 1.54 and a beta of 1.19. PulteGroup, Inc. has a 1 year low of $108.49 and a 1 year high of $144.49. The company has a fifty day simple moving average of $128.14 and a 200 day simple moving average of $124.74. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.14.

PulteGroup (NYSE:PHM - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The construction company reported $2.48 EPS for the quarter, topping the consensus estimate of $2.36 by $0.12. PulteGroup had a net margin of 11.62% and a return on equity of 15.21%. The firm had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same period in the prior year, the business posted $3.03 earnings per share. The business's quarterly revenue was down 9.6% on a year-over-year basis. Sell-side analysts anticipate that PulteGroup, Inc. will post 10.12 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. PulteGroup's dividend payout ratio is currently 10.62%.

About PulteGroup

PulteGroup, Inc NYSE: PHM is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.

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