Wellington Management Group LLP Grows Stake in PulteGroup, Inc. (NYSE:PHM)

Wellington Management Group LLP lifted its stake in PulteGroup, Inc. (NYSE:PHM) by 0.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,191 shares of the construction company’s stock after buying an additional 258 shares during the period. Wellington Management Group LLP’s holdings in PulteGroup were worth $5,051,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Trustmark National Bank Trust Department grew its position in PulteGroup by 39.8% in the third quarter. Trustmark National Bank Trust Department now owns 39,589 shares of the construction company’s stock valued at $5,682,000 after acquiring an additional 11,269 shares in the last quarter. New Millennium Group LLC grew its holdings in PulteGroup by 10,625.8% during the 3rd quarter. New Millennium Group LLC now owns 9,546 shares of the construction company’s stock valued at $1,370,000 after purchasing an additional 9,457 shares in the last quarter. Systematic Financial Management LP increased its stake in PulteGroup by 3.9% during the 3rd quarter. Systematic Financial Management LP now owns 130,257 shares of the construction company’s stock worth $18,696,000 after buying an additional 4,840 shares during the period. Vision Capital Corp acquired a new position in PulteGroup in the 3rd quarter worth $22,348,000. Finally, Blair William & Co. IL grew its stake in shares of PulteGroup by 25.1% during the second quarter. Blair William & Co. IL now owns 34,127 shares of the construction company’s stock valued at $3,757,000 after acquiring an additional 6,858 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

Analyst Upgrades and Downgrades

PHM has been the subject of a number of analyst reports. UBS Group increased their price target on PulteGroup from $148.00 to $154.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Oppenheimer reduced their target price on PulteGroup from $168.00 to $165.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Barclays reaffirmed an “equal weight” rating and issued a $140.00 price target (down from $150.00) on shares of PulteGroup in a report on Wednesday, December 11th. Wedbush reissued a “neutral” rating and set a $115.00 price objective on shares of PulteGroup in a report on Tuesday, October 22nd. Finally, BTIG Research upped their target price on shares of PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $144.50.

PulteGroup Stock Performance

PHM stock opened at $117.04 on Tuesday. PulteGroup, Inc. has a 1 year low of $99.03 and a 1 year high of $149.47. The stock has a market capitalization of $24.00 billion, a price-to-earnings ratio of 8.63, a PEG ratio of 0.48 and a beta of 1.62. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73. The stock’s fifty day moving average is $132.63 and its two-hundred day moving average is $127.35.

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

PulteGroup Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend is Tuesday, December 17th. This is a positive change from PulteGroup’s previous quarterly dividend of $0.20. PulteGroup’s payout ratio is 5.90%.

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.