9,379 Shares in PulteGroup, Inc. (NYSE:PHM) Acquired by Jennison Associates LLC

Jennison Associates LLC purchased a new position in shares of PulteGroup, Inc. (NYSE:PHM) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 9,379 shares of the construction company’s stock, valued at approximately $1,021,000.

Other hedge funds have also recently bought and sold shares of the company. Logan Capital Management Inc. boosted its position in PulteGroup by 67.7% in the 3rd quarter. Logan Capital Management Inc. now owns 14,797 shares of the construction company’s stock valued at $2,124,000 after buying an additional 5,976 shares during the last quarter. Sanctuary Advisors LLC boosted its position in PulteGroup by 38.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 121,299 shares of the construction company’s stock valued at $17,410,000 after buying an additional 33,472 shares during the last quarter. Trustmark National Bank Trust Department boosted its position in PulteGroup by 39.8% in the 3rd quarter. Trustmark National Bank Trust Department now owns 39,589 shares of the construction company’s stock valued at $5,682,000 after buying an additional 11,269 shares during the last quarter. Systematic Financial Management LP boosted its position in PulteGroup by 3.9% in the 3rd quarter. Systematic Financial Management LP now owns 130,257 shares of the construction company’s stock valued at $18,696,000 after buying an additional 4,840 shares during the last quarter. Finally, New Millennium Group LLC lifted its stake in shares of PulteGroup by 10,625.8% in 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 during the period. 89.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PHM has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut their price target on PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a research note on Friday, December 13th. The Goldman Sachs Group cut their price target on PulteGroup from $140.00 to $124.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Barclays cut their price target on PulteGroup from $125.00 to $117.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Bank of America cut their price target on PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. Finally, BTIG Research increased their price target on PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $140.86.

PulteGroup Price Performance

PHM stock opened at $109.89 on Friday. The stock has a 50-day moving average price of $116.14 and a two-hundred day moving average price of $127.14. The stock has a market cap of $22.54 billion, a PE ratio of 7.47, a price-to-earnings-growth ratio of 0.49 and a beta of 1.68. The company has a current ratio of 0.86, a quick ratio of 0.73 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a 1 year low of $100.24 and a 1 year high of $149.47.

PulteGroup (NYSE:PHM) last released its earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.28 by $0.22. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. Equities analysts forecast that PulteGroup, Inc. will post 13.34 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date is Tuesday, March 18th. PulteGroup’s dividend payout ratio (DPR) is presently 5.98%.

PulteGroup declared that its board has initiated a share buyback program on Thursday, January 30th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the construction company to reacquire up to 6.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

PulteGroup 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.