PulteGroup, Inc. $PHM Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC raised its position in PulteGroup, Inc. (NYSE:PHM) by 0.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,275,082 shares of the construction company’s stock after purchasing an additional 752 shares during the quarter. Geode Capital Management LLC’s holdings in PulteGroup were worth $554,020,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PHM. WPG Advisers LLC acquired a new position in shares of PulteGroup during the first quarter worth about $25,000. Hager Investment Management Services LLC boosted its stake in shares of 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 during the period. REAP Financial Group LLC grew its holdings in PulteGroup by 188.1% during the 2nd 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 in the last quarter. Quarry LP grew its holdings in PulteGroup by 43.8% during the 1st quarter. Quarry LP now owns 571 shares of the construction company’s stock valued at $59,000 after purchasing an additional 174 shares in the last quarter. Finally, Pandora Wealth Inc. purchased a new stake in PulteGroup during the 1st quarter worth $97,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PHM shares. Oppenheimer upped their price objective on shares of PulteGroup from $132.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, July 23rd. Bank of America reduced their price target on PulteGroup from $145.00 to $140.00 and set a “buy” rating for the company in a report on Friday, October 10th. UBS Group raised their price objective on PulteGroup from $141.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. Wedbush reaffirmed an “outperform” rating and issued a $150.00 target price on shares of PulteGroup in a research report on Tuesday, October 21st. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of PulteGroup in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $133.67.

PulteGroup Price Performance

Shares of PHM opened at $118.21 on Friday. PulteGroup, Inc. has a 52 week low of $88.07 and a 52 week high of $142.11. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.13. The firm has a market cap of $23.04 billion, a price-to-earnings ratio of 9.10, a PEG ratio of 0.95 and a beta of 1.25. The stock has a 50 day moving average of $126.67 and a 200-day moving average of $116.92.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, October 21st. The construction company reported $2.96 EPS for the quarter, topping analysts’ consensus estimates 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 firm’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.35 earnings per share. As a group, analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 16th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $0.88 annualized dividend and a dividend yield of 0.7%. PulteGroup’s dividend payout ratio is 6.77%.

PulteGroup Company 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.