Key Financial Inc Acquires Shares of 1,604 PulteGroup, Inc. $PHM

Key Financial Inc bought a new stake in shares of PulteGroup, Inc. (NYSE:PHM) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,604 shares of the construction company’s stock, valued at approximately $169,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Nuveen LLC purchased a new stake in shares of PulteGroup during the first quarter worth $213,092,000. Pacer Advisors Inc. increased its position in PulteGroup by 2,586.8% in the 1st quarter. Pacer Advisors Inc. now owns 1,166,902 shares of the construction company’s stock worth $119,958,000 after purchasing an additional 1,123,471 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of PulteGroup by 40.3% during the 1st quarter. JPMorgan Chase & Co. now owns 3,486,330 shares of the construction company’s stock valued at $358,395,000 after buying an additional 1,001,290 shares during the last quarter. AustralianSuper Pty Ltd grew its stake in shares of PulteGroup by 219.2% in the 1st quarter. AustralianSuper Pty Ltd now owns 1,039,107 shares of the construction company’s stock valued at $106,820,000 after buying an additional 713,534 shares in the last quarter. Finally, Alyeska Investment Group L.P. bought a new stake in shares of PulteGroup in the 1st quarter valued at approximately $53,262,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

PulteGroup Stock Up 0.6%

PulteGroup stock opened at $119.51 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.81 and a quick ratio of 0.81. PulteGroup, Inc. has a fifty-two week low of $88.07 and a fifty-two week high of $142.11. The firm has a fifty day moving average price of $128.96 and a two-hundred day moving average price of $116.07. The firm has a market cap of $23.29 billion, a price-to-earnings ratio of 9.20, a P/E/G ratio of 0.95 and a beta of 1.29.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Tuesday, October 21st. The construction company reported $2.96 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 business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same period in the previous year, the company posted $3.35 earnings per share. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 16th were issued a dividend of $0.22 per share. The ex-dividend date was Tuesday, September 16th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.7%. PulteGroup’s payout ratio is 6.77%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Oppenheimer lifted their target price on shares of PulteGroup from $132.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, July 23rd. 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. Wedbush reiterated an “outperform” rating and issued a $150.00 price objective on shares of PulteGroup in a report on Tuesday, October 21st. UBS Group raised their target price on PulteGroup from $141.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Finally, Seaport Res Ptn raised PulteGroup from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, PulteGroup currently has an average rating of “Moderate Buy” and a consensus price target of $133.67.

PulteGroup 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.