PulteGroup, Inc. $PHM Shares Acquired by Wright Investors Service Inc.

Wright Investors Service Inc. raised its position in PulteGroup, Inc. (NYSE:PHM) by 24.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,264 shares of the construction company’s stock after buying an additional 4,234 shares during the period. Wright Investors Service Inc.’s holdings in PulteGroup were worth $2,810,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PHM. Wilmington Savings Fund Society FSB grew its position in shares of PulteGroup by 5.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 1,736 shares of the construction company’s stock worth $229,000 after acquiring an additional 94 shares in the last quarter. Franchise Capital Ltd lifted its stake in PulteGroup by 26.2% during the third quarter. Franchise Capital Ltd now owns 1,640 shares of the construction company’s stock worth $217,000 after purchasing an additional 340 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in PulteGroup by 29.9% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 59,354 shares of the construction company’s stock worth $7,842,000 after purchasing an additional 13,647 shares during the period. Versant Capital Management Inc increased its stake in PulteGroup by 12.6% during the third quarter. Versant Capital Management Inc now owns 5,078 shares of the construction company’s stock valued at $671,000 after purchasing an additional 567 shares during the last quarter. Finally, Eastern Bank increased its stake in PulteGroup by 0.5% during the third quarter. Eastern Bank now owns 137,407 shares of the construction company’s stock valued at $18,156,000 after purchasing an additional 693 shares during the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on PHM shares. UBS Group reduced their price target on shares of PulteGroup from $160.00 to $159.00 and set a “buy” rating on the stock in a research report on Tuesday, January 6th. JPMorgan Chase & Co. raised their target price on shares of PulteGroup from $136.00 to $149.00 and gave the stock an “overweight” rating in a report on Thursday, December 4th. Citigroup lowered their target price on PulteGroup from $135.00 to $128.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. BTIG Research began coverage on PulteGroup in a report on Monday, December 1st. They issued a “neutral” rating on the stock. Finally, Citizens Jmp initiated coverage on PulteGroup in a research report on Wednesday, January 7th. They set a “market outperform” rating and a $145.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $138.85.

PulteGroup Stock Performance

Shares of NYSE PHM opened at $132.80 on Friday. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-month high of $142.11. The company has a market cap of $25.89 billion, a PE ratio of 10.22, a P/E/G ratio of 1.06 and a beta of 1.33. The stock has a 50 day simple moving average of $122.66 and a 200-day simple moving average of $123.42. 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 (NYSE:PHM) last announced its earnings results on Tuesday, October 21st. The construction company reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.86 by $0.10. PulteGroup had a return on equity of 19.58% and a net margin of 14.93%.The firm had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.31 billion. During the same quarter in the previous year, the business earned $3.35 EPS. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, equities research analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Tuesday, December 16th were issued a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, December 16th. This is an increase from PulteGroup’s previous quarterly dividend of $0.22. This represents a $1.04 annualized dividend and a yield of 0.8%. PulteGroup’s dividend payout ratio is currently 8.01%.

PulteGroup Profile

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.