Numerai GP LLC Invests $490,000 in PulteGroup, Inc. (NYSE:PHM)

Posted by on Sep 10th, 2023

Numerai GP LLC purchased a new position in shares of PulteGroup, Inc. (NYSE:PHM – Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 8,414 shares of the construction company’s stock, valued at approximately $490,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PHM. CVA Family Office LLC raised its stake in shares of PulteGroup by 222.9% during the 4th quarter. CVA Family Office LLC now owns 565 shares of the construction company’s stock worth $26,000 after buying an additional 390 shares during the last quarter. Arlington Partners LLC acquired a new position in PulteGroup in the 1st quarter valued at about $26,000. Clear Street Markets LLC raised its stake in PulteGroup by 90.9% in the 1st quarter. Clear Street Markets LLC now owns 441 shares of the construction company’s stock valued at $26,000 after purchasing an additional 210 shares during the last quarter. Coppell Advisory Solutions Corp. acquired a new position in PulteGroup in the 4th quarter valued at about $26,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in PulteGroup in the 1st quarter valued at about $28,000. Institutional investors and hedge funds own 89.84% of the company’s stock.

PulteGroup Stock Performance

Shares of PHM opened at $80.72 on Friday. The business’s 50 day moving average is $80.86 and its two-hundred day moving average is $69.84. PulteGroup, Inc. has a 52-week low of $35.99 and a 52-week high of $86.15. The firm has a market cap of $17.71 billion, a price-to-earnings ratio of 6.67, a PEG ratio of 0.65 and a beta of 1.39. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.21.

PulteGroup (NYSE:PHM – Get Free Report) last announced its earnings results on Tuesday, July 25th. The construction company reported $3.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.69. The company had revenue of $4.19 billion for the quarter, compared to analyst estimates of $4.01 billion. PulteGroup had a return on equity of 29.58% and a net margin of 16.37%. PulteGroup’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.73 EPS. Analysts forecast that PulteGroup, Inc. will post 11.65 EPS for the current fiscal year.

PulteGroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Monday, September 18th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend is Friday, September 15th. PulteGroup’s dividend payout ratio is currently 5.29%.

Analyst Ratings Changes

PHM has been the subject of several analyst reports. Oppenheimer boosted their target price on shares of PulteGroup from $94.00 to $110.00 in a research note on Wednesday, July 26th. StockNews.com initiated coverage on shares of PulteGroup in a research note on Thursday, August 17th. They issued a “buy” rating for the company. Royal Bank of Canada boosted their target price on shares of PulteGroup from $68.00 to $90.00 in a research note on Wednesday, July 26th. Raymond James boosted their target price on shares of PulteGroup from $93.00 to $105.00 and gave the company an “outperform” rating in a research note on Thursday, July 27th. Finally, BTIG Research lifted their price target on PulteGroup from $83.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, July 25th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, PulteGroup presently has an average rating of “Moderate Buy” and an average target price of $86.27.

Check Out Our Latest Stock Report on PHM

About PulteGroup

(Free Report)

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, American West, and John Wieland Homes and Neighborhoods brand names.

See Also

Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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