4,852 Shares in PulteGroup, Inc. $PHM Purchased by Spectrum Asset Management Inc. NB CA

Spectrum Asset Management Inc. NB CA acquired a new position in shares of PulteGroup, Inc. (NYSE:PHM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,852 shares of the construction company’s stock, valued at approximately $513,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. WPG Advisers LLC bought a new stake in shares of PulteGroup in the 1st quarter worth approximately $25,000. Catalyst Capital Advisors LLC bought a new stake in PulteGroup in the first quarter worth $54,000. REAP Financial Group LLC grew its stake in shares of PulteGroup by 188.1% in the second quarter. REAP Financial Group LLC now owns 533 shares of the construction company’s stock worth $56,000 after acquiring an additional 348 shares during the last quarter. Quarry LP increased its holdings in shares of PulteGroup by 43.8% during the first quarter. Quarry LP now owns 571 shares of the construction company’s stock valued at $59,000 after acquiring an additional 174 shares in the last quarter. Finally, Grove Bank & Trust raised its position in shares of PulteGroup by 46.2% in the 1st quarter. Grove Bank & Trust now owns 760 shares of the construction company’s stock worth $78,000 after purchasing an additional 240 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Trading Down 4.4%

NYSE:PHM opened at $129.51 on Wednesday. The company has a market cap of $25.55 billion, a PE ratio of 9.68, a price-to-earnings-growth ratio of 0.40 and a beta of 1.29. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13. The company has a 50 day simple moving average of $130.01 and a two-hundred day simple moving average of $112.62. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $149.47.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, July 22nd. The construction company reported $3.03 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.11. PulteGroup had a return on equity of 21.01% and a net margin of 15.50%.The firm had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.42 billion. During the same period in the prior year, the firm earned $3.83 EPS. The company’s revenue was down 4.3% compared to the same quarter last year. Research analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current 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 paid a dividend of $0.22 per share. 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 payout ratio is currently 6.58%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PHM. Wells Fargo & Company increased their price objective on shares of PulteGroup from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Tuesday, September 2nd. Oppenheimer raised their price target on shares of PulteGroup from $132.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, July 23rd. UBS Group upped their price objective on PulteGroup from $141.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Seaport Res Ptn upgraded PulteGroup from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 22nd. Finally, Citigroup upped their price target on PulteGroup from $132.00 to $143.00 and gave the company a “neutral” rating in a report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $136.46.

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.