Fmr LLC Has $1.30 Billion Position in PulteGroup, Inc. (NYSE:PHM)

Fmr LLC raised its holdings in PulteGroup, Inc. (NYSE:PHM) by 102.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 9,040,828 shares of the construction company’s stock after acquiring an additional 4,571,757 shares during the quarter. Fmr LLC’s holdings in PulteGroup were worth $1,297,630,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PHM. Price T Rowe Associates Inc. MD increased its stake in PulteGroup by 3.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 331,553 shares of the construction company’s stock valued at $39,993,000 after buying an additional 12,164 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its stake in PulteGroup by 7.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,472 shares of the construction company’s stock valued at $539,000 after buying an additional 308 shares during the last quarter. Comerica Bank increased its stake in shares of PulteGroup by 1.0% during the 1st quarter. Comerica Bank now owns 102,788 shares of the construction company’s stock worth $12,398,000 after purchasing an additional 977 shares during the last quarter. Plato Investment Management Ltd raised its holdings in shares of PulteGroup by 216.1% in the 1st quarter. Plato Investment Management Ltd now owns 9,334 shares of the construction company’s stock valued at $1,126,000 after purchasing an additional 6,381 shares during the period. Finally, Wahed Invest LLC lifted its stake in PulteGroup by 13.1% in the 1st quarter. Wahed Invest LLC now owns 4,135 shares of the construction company’s stock valued at $499,000 after purchasing an additional 478 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Wells Fargo & Company boosted their price target on PulteGroup from $150.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Oppenheimer dropped their price target on PulteGroup from $168.00 to $165.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Evercore ISI reduced their price objective on shares of PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Bank of America increased their price objective on shares of PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Finally, UBS Group lifted their target price on shares of PulteGroup from $148.00 to $154.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.00.

PulteGroup Trading Down 1.5 %

Shares of PHM stock opened at $135.63 on Wednesday. The stock has a market cap of $27.82 billion, a P/E ratio of 10.00, a price-to-earnings-growth ratio of 0.56 and a beta of 1.63. PulteGroup, Inc. has a 1 year low of $86.59 and a 1 year high of $149.47. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.14. The stock has a 50 day simple moving average of $136.60 and a 200 day simple moving average of $126.17.

PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.25. The company had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.27 billion. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. PulteGroup’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.90 EPS. On average, research analysts predict that PulteGroup, Inc. will post 12.94 earnings per share for the current fiscal year.

PulteGroup Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th will be issued a dividend of $0.22 per share. This is a positive change from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Tuesday, December 17th. PulteGroup’s dividend payout ratio is 5.90%.

About PulteGroup

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.