Systematic Financial Management LP Boosts Stake in PulteGroup, Inc. (NYSE:PHM)

Systematic Financial Management LP lifted its holdings in PulteGroup, Inc. (NYSE:PHM) by 3.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 130,257 shares of the construction company’s stock after buying an additional 4,840 shares during the period. Systematic Financial Management LP’s holdings in PulteGroup were worth $18,696,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of PHM. FMR LLC lifted its stake in shares of PulteGroup by 102.3% in the third quarter. FMR LLC now owns 9,040,828 shares of the construction company’s stock worth $1,297,630,000 after buying an additional 4,571,757 shares in the last quarter. Westfield Capital Management Co. LP acquired a new stake in PulteGroup during the third quarter worth about $66,485,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in PulteGroup by 357.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 521,958 shares of the construction company’s stock worth $74,917,000 after purchasing an additional 407,764 shares during the last quarter. KBC Group NV increased its position in PulteGroup by 1,020.0% during the third quarter. KBC Group NV now owns 435,925 shares of the construction company’s stock worth $62,568,000 after purchasing an additional 397,003 shares during the last quarter. Finally, Hsbc Holdings PLC increased its position in PulteGroup by 19.6% during the second quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock worth $168,254,000 after purchasing an additional 250,937 shares during the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on PHM. Bank of America raised their price objective on shares of PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Wolfe Research cut shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. Evercore ISI dropped their price target 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. Wedbush reiterated a “neutral” rating and set a $115.00 price target on shares of PulteGroup in a research report on Tuesday, October 22nd. Finally, UBS Group lifted their price objective on shares of PulteGroup from $148.00 to $154.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, PulteGroup presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.00.

PulteGroup Stock Down 3.5 %

Shares of NYSE:PHM opened at $129.30 on Thursday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.14. PulteGroup, Inc. has a 52-week low of $90.50 and a 52-week high of $149.47. The company has a 50 day moving average of $135.63 and a two-hundred day moving average of $126.79. The company has a market capitalization of $26.52 billion, a price-to-earnings ratio of 9.54, a price-to-earnings-growth ratio of 0.55 and a beta of 1.62.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.25. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The business had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.27 billion. During the same quarter last year, the company earned $2.90 earnings per share. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. As a group, analysts forecast 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. Shareholders of record on Tuesday, December 17th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.68%. This is a boost from PulteGroup’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Tuesday, December 17th. PulteGroup’s dividend payout ratio (DPR) is presently 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.