Tectonic Advisors LLC Boosts Holdings in PulteGroup, Inc. $PHM

Tectonic Advisors LLC lifted its stake in PulteGroup, Inc. (NYSE:PHM) by 14.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,978 shares of the construction company’s stock after buying an additional 498 shares during the period. Tectonic Advisors LLC’s holdings in PulteGroup were worth $420,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PHM. WPG Advisers LLC acquired a new stake in PulteGroup during the 1st quarter worth $25,000. Hager Investment Management Services LLC boosted its stake in PulteGroup by 33.3% during the 2nd quarter. Hager Investment Management Services LLC now owns 420 shares of the construction company’s stock worth $44,000 after purchasing an additional 105 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in PulteGroup during the 1st quarter worth $54,000. REAP Financial Group LLC boosted its stake in PulteGroup by 188.1% during the 2nd quarter. REAP Financial Group LLC now owns 533 shares of the construction company’s stock worth $56,000 after purchasing an additional 348 shares during the period. Finally, Quarry LP boosted its stake in PulteGroup by 43.8% during the 1st quarter. Quarry LP now owns 571 shares of the construction company’s stock worth $59,000 after purchasing an additional 174 shares during the period. 89.90% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Stock Performance

Shares of PHM opened at $119.92 on Friday. The company has a 50-day simple moving average of $130.52 and a 200-day simple moving average of $112.93. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $23.66 billion, a PE ratio of 8.96, a P/E/G ratio of 0.36 and a beta of 1.29. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $149.47.

PulteGroup (NYSE:PHM) last announced its quarterly 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. 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% compared to the same quarter last year. During the same quarter last year, the firm posted $3.83 EPS. Equities research analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The business also recently declared 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 was Tuesday, September 16th. PulteGroup’s dividend payout ratio (DPR) is currently 6.58%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. UBS Group increased their price target on shares of PulteGroup from $141.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Raymond James Financial reiterated an “outperform” rating and set a $140.00 price target (up previously from $115.00) on shares of PulteGroup in a research note on Wednesday, July 23rd. Bank of America decreased their price target on shares of PulteGroup from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Friday. JPMorgan Chase & Co. raised their target price on shares of PulteGroup from $121.00 to $123.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Finally, Zacks Research upgraded shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $136.92.

PulteGroup Company 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.