Vise Technologies Inc. Takes Position in PulteGroup, Inc. $PHM

Vise Technologies Inc. acquired a new stake in shares of PulteGroup, Inc. (NYSE:PHM) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 13,109 shares of the construction company’s stock, valued at approximately $1,383,000.

Several other hedge funds have also bought and sold shares of PHM. JPMorgan Chase & Co. lifted its position in PulteGroup by 40.3% during the first quarter. JPMorgan Chase & Co. now owns 3,486,330 shares of the construction company’s stock valued at $358,395,000 after purchasing an additional 1,001,290 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of PulteGroup by 11.8% in the 1st quarter. Ameriprise Financial Inc. now owns 2,570,022 shares of the construction company’s stock valued at $264,216,000 after acquiring an additional 271,917 shares during the last quarter. Nuveen LLC purchased a new position in PulteGroup in the first quarter worth about $213,092,000. Price T Rowe Associates Inc. MD raised its position in PulteGroup by 21.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,579,792 shares of the construction company’s stock valued at $162,403,000 after purchasing an additional 276,077 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in shares of PulteGroup by 25.6% in the 1st quarter. Victory Capital Management Inc. now owns 1,397,409 shares of the construction company’s stock valued at $143,654,000 after purchasing an additional 284,627 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Citigroup boosted their price objective on shares of PulteGroup from $132.00 to $143.00 and gave the company a “neutral” rating in a research report on Wednesday, October 1st. JPMorgan Chase & Co. raised their price objective 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. Oppenheimer boosted their target price on PulteGroup from $132.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, July 23rd. Zacks Research raised PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Friday, August 29th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $150.00 price objective on shares of PulteGroup in a research report on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $133.67.

PulteGroup Price Performance

NYSE PHM opened at $120.67 on Thursday. The stock’s fifty day moving average price is $127.50 and its 200 day moving average price is $116.80. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market cap of $23.52 billion, a price-to-earnings ratio of 9.26, a PEG ratio of 0.95 and a beta of 1.25. PulteGroup, Inc. has a 1 year low of $88.07 and a 1 year high of $142.11.

PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, October 21st. The construction company reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.86 by $0.10. The firm had revenue of $4.40 billion during 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 business’s revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the business posted $3.35 EPS. As a group, equities research analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Tuesday, September 16th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.7%. PulteGroup’s dividend payout ratio (DPR) is presently 6.77%.

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.