Massachusetts Financial Services Co. MA Invests $315.88 Million in PulteGroup, Inc. $PHM

Massachusetts Financial Services Co. MA acquired a new stake in shares of PulteGroup, Inc. (NYSE:PHM) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 2,390,701 shares of the construction company’s stock, valued at approximately $315,883,000.

A number of other hedge funds also recently made changes to their positions in the stock. Evergreen Capital Management LLC raised its position in PulteGroup by 2.8% during the second quarter. Evergreen Capital Management LLC now owns 2,875 shares of the construction company’s stock valued at $304,000 after purchasing an additional 78 shares in the last quarter. Fidelis Capital Partners LLC boosted its holdings in shares of PulteGroup by 1.0% in the 2nd quarter. Fidelis Capital Partners LLC now owns 8,760 shares of the construction company’s stock worth $924,000 after purchasing an additional 85 shares in the last quarter. Apella Capital LLC increased its position in shares of PulteGroup by 4.2% during the 3rd quarter. Apella Capital LLC now owns 2,163 shares of the construction company’s stock valued at $268,000 after purchasing an additional 87 shares during the last quarter. Cooper Financial Group increased its position in shares of PulteGroup by 1.4% during the 2nd quarter. Cooper Financial Group now owns 6,697 shares of the construction company’s stock valued at $706,000 after purchasing an additional 92 shares during the last quarter. Finally, CWM LLC raised its holdings in shares of PulteGroup by 0.6% during the 3rd quarter. CWM LLC now owns 14,308 shares of the construction company’s stock valued at $1,890,000 after buying an additional 92 shares in the last quarter. 89.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. BTIG Research started coverage on PulteGroup in a research note on Monday, December 1st. They issued a “neutral” rating for the company. Evercore ISI lowered their price objective on shares of PulteGroup from $154.00 to $134.00 and set an “in-line” rating for the company in a report on Wednesday, October 22nd. Weiss Ratings raised shares of PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. Barclays set a $115.00 target price on shares of PulteGroup in a research report on Monday, December 8th. Finally, JPMorgan Chase & Co. boosted their price target on shares of PulteGroup from $136.00 to $149.00 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, PulteGroup has an average rating of “Moderate Buy” and an average target price of $138.85.

PulteGroup Price Performance

Shares of PulteGroup stock opened at $130.30 on Monday. The company’s fifty day simple moving average is $122.88 and its two-hundred day simple moving average is $123.78. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-month high of $142.11. The firm has a market cap of $25.40 billion, a PE ratio of 10.03, a price-to-earnings-growth ratio of 1.06 and a beta of 1.33. 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 (NYSE:PHM) last issued its quarterly earnings data on Tuesday, October 21st. The construction company reported $2.96 EPS for the quarter, beating the consensus estimate of $2.86 by $0.10. The firm 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%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.35 earnings per share. As a group, equities analysts expect that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Increases Dividend

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