Johnson Financial Group Inc. Buys New Shares in PulteGroup, Inc. $PHM

Johnson Financial Group Inc. purchased a new position in PulteGroup, Inc. (NYSE:PHM) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 609 shares of the construction company’s stock, valued at approximately $64,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. WPG Advisers LLC bought a new stake in shares of PulteGroup in the 1st quarter valued at about $25,000. Hager Investment Management Services LLC grew its position 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 acquiring an additional 105 shares during the last quarter. REAP Financial Group LLC increased its stake in PulteGroup by 188.1% in 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. Quarry LP lifted its position in PulteGroup by 43.8% in the first quarter. Quarry LP now owns 571 shares of the construction company’s stock valued at $59,000 after purchasing an additional 174 shares during the last quarter. Finally, Pandora Wealth Inc. purchased a new stake in shares of PulteGroup during the first quarter valued at approximately $97,000. 89.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on PHM. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PulteGroup in a research note on Tuesday. Wells Fargo & Company boosted 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. Bank of America lowered 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. Zacks Research raised PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Friday, August 29th. Finally, Evercore ISI reduced their price target on PulteGroup from $154.00 to $134.00 and set an “in-line” rating on the stock in a report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, PulteGroup currently has a consensus rating of “Moderate Buy” and an average price target of $133.67.

PulteGroup Trading Down 0.3%

NYSE:PHM opened at $127.19 on Friday. The company has a 50-day moving average price of $123.56 and a 200-day moving average price of $118.20. The stock has a market cap of $24.79 billion, a price-to-earnings 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. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month 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. The company had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.31 billion. PulteGroup had a net margin of 14.93% and a return on equity of 19.58%. PulteGroup’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.35 earnings per share. Equities analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 16th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Tuesday, December 16th. This is a boost from PulteGroup’s previous quarterly dividend of $0.22. PulteGroup’s dividend payout ratio (DPR) is 8.01%.

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.