Retireful LLC Invests $989,000 in PulteGroup, Inc. $PHM

Retireful LLC bought a new position in PulteGroup, Inc. (NYSE:PHM) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,482 shares of the construction company’s stock, valued at approximately $989,000.

Several other hedge funds have also recently made changes to their positions in the business. Norges Bank bought a new stake in PulteGroup in the second quarter valued at $404,339,000. First Trust Advisors LP boosted its stake in shares of PulteGroup by 27.2% during the 2nd quarter. First Trust Advisors LP now owns 3,199,906 shares of the construction company’s stock valued at $337,462,000 after purchasing an additional 683,728 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in shares of PulteGroup during the first quarter valued at about $53,262,000. American Century Companies Inc. increased its position in shares of PulteGroup by 143.8% during the second quarter. American Century Companies Inc. now owns 772,762 shares of the construction company’s stock valued at $81,496,000 after buying an additional 455,754 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in PulteGroup by 1,248.6% in the second quarter. Assenagon Asset Management S.A. now owns 435,580 shares of the construction company’s stock worth $45,936,000 after buying an additional 403,281 shares in the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Stock Performance

Shares of PHM stock opened at $119.17 on Monday. The company has a market capitalization of $23.23 billion, a price-to-earnings ratio of 9.17, a price-to-earnings-growth ratio of 0.96 and a beta of 1.31. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.81 and a current ratio of 0.81. PulteGroup, Inc. has a one year low of $88.07 and a one year high of $142.11. The company’s 50-day moving average is $121.63 and its 200 day moving average is $121.61.

PulteGroup (NYSE:PHM) last issued its earnings results on Tuesday, October 21st. The construction company reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.10. PulteGroup had a net margin of 14.93% and a return on equity of 19.58%. The firm had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.31 billion. During the same quarter in the prior year, the firm posted $3.35 earnings per share. The business’s revenue was down 1.6% on a year-over-year basis. Sell-side analysts expect that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Tuesday, December 16th will be paid a dividend of $0.26 per share. The ex-dividend date is Tuesday, December 16th. This represents a $1.04 annualized dividend and a yield of 0.9%. This is a positive change from PulteGroup’s previous quarterly dividend of $0.22. PulteGroup’s dividend payout ratio (DPR) is 8.01%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PHM shares. Evercore ISI reduced their target price on PulteGroup from $154.00 to $134.00 and set an “in-line” rating on the stock in a report on Wednesday, October 22nd. JPMorgan Chase & Co. lifted their price target on PulteGroup from $136.00 to $149.00 and gave the company an “overweight” rating in a research report on Thursday, December 4th. BTIG Research assumed coverage on PulteGroup in a research note on Monday, December 1st. They issued a “neutral” rating on the stock. Citigroup raised their price objective on PulteGroup from $132.00 to $143.00 and gave the company a “neutral” rating in a research report on Wednesday, October 1st. Finally, Wedbush reiterated an “outperform” rating and issued a $150.00 price target on shares of PulteGroup in a research note on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, PulteGroup presently has a consensus rating of “Moderate Buy” and an average price target of $137.25.

PulteGroup Profile

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.