PulteGroup, Inc. (NYSE:PHM) Position Boosted by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank increased its stake in PulteGroup, Inc. by 26.2%, bringing its total ownership to approximately $44.60 million as of the latest reporting period.
• PulteGroup reported earnings of $3.03 per share for the last quarter, exceeding analyst expectations, although revenue was down 4.3% year-over-year.
• The company announced a quarterly dividend of $0.22 per share, translating to an annualized yield of 0.76%, with a low payout ratio of 6.58%.

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 26.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 433,815 shares of the construction company's stock after acquiring an additional 89,976 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.22% of PulteGroup worth $44,596,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of PHM. Ameriflex Group Inc. acquired a new position in shares of PulteGroup in the 4th quarter valued at approximately $37,000. TD Waterhouse Canada Inc. increased its stake in shares of PulteGroup by 43.0% in the fourth quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company's stock worth $38,000 after buying an additional 105 shares during the last quarter. American National Bank & Trust acquired a new stake in PulteGroup in the first quarter valued at $39,000. Quarry LP acquired a new stake in PulteGroup in the fourth quarter valued at $43,000. Finally, Catalyst Capital Advisors LLC bought a new position in PulteGroup during the 1st quarter valued at $54,000. 89.90% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Stock Performance

NYSE:PHM traded up $0.57 during midday trading on Monday, reaching $116.92. 1,569,080 shares of the company traded hands, compared to its average volume of 2,366,847. The firm has a market capitalization of $23.07 billion, a price-to-earnings ratio of 8.74, a price-to-earnings-growth ratio of 0.34 and a beta of 1.29. The company has a fifty day moving average price of $105.66 and a 200 day moving average price of $105.08. 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, Inc. has a twelve month low of $88.07 and a twelve month high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last posted its earnings results 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. PulteGroup had a return on equity of 21.01% and a net margin of 15.50%. The company had revenue of $4.40 billion for the quarter, compared to analysts' expectations of $4.42 billion. During the same period last year, the business posted $3.83 earnings per share. The firm's quarterly revenue was down 4.3% compared to the same quarter last year. On average, analysts expect that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Tuesday, June 17th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend was Tuesday, June 17th. PulteGroup's payout ratio is 6.58%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PHM shares. UBS Group upped their target price on shares of PulteGroup from $141.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Wells Fargo & Company boosted their price objective on PulteGroup from $125.00 to $135.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Raymond James Financial restated an "outperform" rating and set a $140.00 price objective (up previously from $115.00) on shares of PulteGroup in a research note on Wednesday, July 23rd. Citigroup increased their target price on PulteGroup from $128.00 to $132.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Finally, 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. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $134.15.

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.