Osaic Holdings Inc. Acquires 85,637 Shares of PulteGroup, Inc. $PHM

Osaic Holdings Inc. boosted its holdings in PulteGroup, Inc. (NYSE:PHM) by 129.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 151,766 shares of the construction company’s stock after purchasing an additional 85,637 shares during the quarter. Osaic Holdings Inc.’s holdings in PulteGroup were worth $15,778,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. WPG Advisers LLC acquired a new stake in shares of PulteGroup during the 1st quarter worth approximately $25,000. Twin Peaks Wealth Advisors LLC bought a new position in PulteGroup during the second quarter worth $32,000. Rexford Capital Inc. acquired a new stake in PulteGroup in the second quarter worth $35,000. Hager Investment Management Services LLC increased its stake in PulteGroup by 33.3% in the second quarter. Hager Investment Management Services LLC now owns 420 shares of the construction company’s stock valued at $44,000 after purchasing an additional 105 shares in the last quarter. Finally, REAP Financial Group LLC raised its holdings in shares of PulteGroup by 188.1% during the second quarter. REAP Financial Group LLC now owns 533 shares of the construction company’s stock valued at $56,000 after purchasing an additional 348 shares during the period. 89.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Barclays set a $115.00 target price on PulteGroup in a research note on Monday, December 8th. Evercore ISI reduced their price objective on PulteGroup from $154.00 to $134.00 and set an “in-line” rating for the company in a research note on Wednesday, October 22nd. Wedbush reaffirmed an “outperform” rating and set a $150.00 target price on shares of PulteGroup in a research report on Tuesday, October 21st. Citigroup lifted their price target 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. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of PulteGroup in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.25.

PulteGroup Stock Down 1.0%

PHM stock opened at $121.56 on Friday. The firm has a market capitalization of $23.69 billion, a PE ratio of 9.36, a P/E/G ratio of 0.98 and a beta of 1.31. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month high of $142.11. The stock’s 50 day moving average is $122.11 and its 200-day moving average is $120.59.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, October 21st. The construction company reported $2.96 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $4.31 billion. During the same period in the prior year, the firm posted $3.35 EPS. PulteGroup’s quarterly revenue was down 1.6% compared to the same quarter last year. Sell-side analysts expect that PulteGroup, Inc. will post 12.32 EPS for the current fiscal 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 issued a $0.26 dividend. This is an increase from PulteGroup’s previous quarterly dividend of $0.22. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Tuesday, December 16th. PulteGroup’s dividend payout ratio is currently 8.01%.

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.