Westerkirk Capital Inc. Takes Position in PulteGroup, Inc. $PHM

Westerkirk Capital Inc. bought a new position in PulteGroup, Inc. (NYSE:PHM) during the second quarter, Holdings Channel reports. The fund bought 16,200 shares of the construction company’s stock, valued at approximately $1,708,000.

Several other institutional investors also recently modified their holdings of the business. NBW Capital LLC boosted its stake in PulteGroup by 19.8% during the second quarter. NBW Capital LLC now owns 49,623 shares of the construction company’s stock worth $5,233,000 after acquiring an additional 8,197 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of PulteGroup during the second quarter valued at approximately $2,302,000. Van Hulzen Asset Management LLC lifted its holdings in shares of PulteGroup by 30.3% during the second quarter. Van Hulzen Asset Management LLC now owns 6,016 shares of the construction company’s stock valued at $634,000 after purchasing an additional 1,400 shares during the last quarter. Third Avenue Management LLC boosted its position in shares of PulteGroup by 51.9% in the 2nd quarter. Third Avenue Management LLC now owns 96,931 shares of the construction company’s stock worth $10,222,000 after purchasing an additional 33,131 shares in the last quarter. Finally, BLI Banque de Luxembourg Investments bought a new stake in shares of PulteGroup in the 2nd quarter worth approximately $2,300,000. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Price Performance

Shares of PHM opened at $127.18 on Tuesday. The firm has a market cap of $24.79 billion, a PE ratio of 9.79, a P/E/G ratio of 0.95 and a beta of 1.25. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $123.52 and a two-hundred day simple moving average of $118.49. PulteGroup, Inc. has a 1-year low of $88.07 and a 1-year high of $142.11.

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

PulteGroup Increases Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 0.8%. This is an increase from PulteGroup’s previous quarterly dividend of $0.22. PulteGroup’s dividend payout ratio is presently 8.01%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Zacks Research upgraded PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Friday, August 29th. BTIG Research initiated coverage on PulteGroup in a report on Monday. They set a “neutral” rating for the company. Wells Fargo & Company lifted their price target on PulteGroup from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 2nd. Evercore ISI cut their price objective on shares of PulteGroup from $154.00 to $134.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 22nd. Finally, Bank of America reduced their price objective on shares of PulteGroup from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, PulteGroup presently has a consensus rating of “Moderate Buy” and an average price target of $133.67.

About PulteGroup

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.