DekaBank Deutsche Girozentrale Boosts Holdings in PulteGroup, Inc. $PHM

DekaBank Deutsche Girozentrale raised its position in PulteGroup, Inc. (NYSE:PHM) by 7.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 103,334 shares of the construction company’s stock after acquiring an additional 6,907 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in PulteGroup were worth $10,918,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Bogart Wealth LLC lifted its stake in PulteGroup by 5.1% in the second quarter. Bogart Wealth LLC now owns 68,685 shares of the construction company’s stock worth $7,244,000 after acquiring an additional 3,321 shares during the last quarter. Cidel Asset Management Inc. lifted its stake in PulteGroup by 10.3% in the second quarter. Cidel Asset Management Inc. now owns 2,491 shares of the construction company’s stock worth $263,000 after acquiring an additional 232 shares during the last quarter. Chicago Partners Investment Group LLC lifted its stake in PulteGroup by 53.0% in the second quarter. Chicago Partners Investment Group LLC now owns 3,865 shares of the construction company’s stock worth $408,000 after acquiring an additional 1,339 shares during the last quarter. Planned Solutions Inc. lifted its stake in PulteGroup by 15.0% in the second quarter. Planned Solutions Inc. now owns 3,517 shares of the construction company’s stock worth $371,000 after acquiring an additional 460 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new position in PulteGroup in the second quarter worth approximately $2,162,000. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PHM. Oppenheimer lifted their price target on shares of PulteGroup from $132.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 23rd. Wells Fargo & Company boosted their price objective on shares of PulteGroup from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 2nd. Evercore ISI reduced their price objective on shares of PulteGroup from $154.00 to $134.00 and set an “in-line” rating for the company in a research report on Wednesday. Royal Bank Of Canada boosted their price objective on shares of PulteGroup from $109.00 to $112.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 23rd. Finally, Citigroup boosted their price objective on shares of PulteGroup from $132.00 to $143.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, PulteGroup has an average rating of “Moderate Buy” and a consensus price target of $133.67.

PulteGroup Stock Performance

Shares of PulteGroup stock opened at $120.95 on Friday. The firm’s fifty day simple moving average is $130.51 and its 200-day simple moving average is $114.23. The stock has a market capitalization of $23.58 billion, a price-to-earnings ratio of 9.31, a PEG ratio of 0.35 and a beta of 1.29. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $142.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.81 and a quick ratio of 0.77.

PulteGroup (NYSE:PHM) last announced its earnings results on Tuesday, October 21st. The construction company reported $2.96 EPS for the quarter, beating analysts’ consensus estimates of $2.86 by $0.10. The business had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.31 billion. PulteGroup had a net margin of 14.93% and a return on equity of 19.58%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $3.35 EPS. As a group, equities analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 16th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 16th. PulteGroup’s payout ratio is presently 6.58%.

PulteGroup 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.