Spectrum Asset Management Inc. NB CA Takes Position in PulteGroup, Inc. $PHM

Spectrum Asset Management Inc. NB CA bought a new position in PulteGroup, Inc. (NYSE:PHM) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 4,852 shares of the construction company’s stock, valued at approximately $513,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. REAP Financial Group LLC grew its holdings in PulteGroup by 188.1% during the second quarter. REAP Financial Group LLC now owns 533 shares of the construction company’s stock valued at $56,000 after purchasing an additional 348 shares during the period. Shell Asset Management Co. lifted its position in shares of PulteGroup by 55.7% during the 2nd quarter. Shell Asset Management Co. now owns 18,052 shares of the construction company’s stock valued at $1,904,000 after buying an additional 6,459 shares in the last quarter. Franchise Capital Ltd purchased a new position in shares of PulteGroup during the 2nd quarter valued at about $137,000. Duncan Williams Asset Management LLC grew its stake in shares of PulteGroup by 12.0% during the 2nd quarter. Duncan Williams Asset Management LLC now owns 8,802 shares of the construction company’s stock valued at $928,000 after acquiring an additional 942 shares during the period. Finally, Wealthcare Advisory Partners LLC purchased a new stake in PulteGroup in the 2nd quarter worth approximately $266,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

PulteGroup Stock Performance

PHM opened at $129.51 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a market capitalization of $25.55 billion, a price-to-earnings ratio of 9.68, a PEG ratio of 0.40 and a beta of 1.29. The company has a fifty day moving average of $130.01 and a 200 day moving average of $112.62. PulteGroup, Inc. has a fifty-two week low of $88.07 and a fifty-two week high of $149.47.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.03 EPS for the quarter, beating the consensus estimate of $2.92 by $0.11. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.42 billion. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. The business’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.83 EPS. As a group, sell-side analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 16th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.7%. The ex-dividend date was Tuesday, September 16th. PulteGroup’s dividend payout ratio (DPR) is currently 6.58%.

Analysts Set New Price Targets

Several equities analysts have weighed in on PHM shares. Wedbush reaffirmed an “outperform” rating and set a $150.00 price target on shares of PulteGroup in a report on Wednesday, August 13th. UBS Group raised their price objective on shares of PulteGroup from $141.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada upped their target price on shares of PulteGroup from $109.00 to $112.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 23rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of PulteGroup in a research note on Saturday, September 27th. Finally, Wells Fargo & Company raised their price target on PulteGroup from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, PulteGroup presently has an average rating of “Moderate Buy” and a consensus price target of $136.46.

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.