PulteGroup, Inc. (NYSE:PHM) Shares Acquired by Bridgewater Associates LP

Bridgewater Associates LP boosted its position in PulteGroup, Inc. (NYSE:PHM) by 35.9% during the 3rd quarter, Holdings Channel reports. The fund owned 358,089 shares of the construction company’s stock after acquiring an additional 94,535 shares during the quarter. Bridgewater Associates LP’s holdings in PulteGroup were worth $51,397,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in shares of PulteGroup by 102.3% in the 3rd quarter. FMR LLC now owns 9,040,828 shares of the construction company’s stock valued at $1,297,630,000 after purchasing an additional 4,571,757 shares in the last quarter. Greenhaven Associates Inc. increased its holdings in PulteGroup by 0.3% in the third quarter. Greenhaven Associates Inc. now owns 5,593,179 shares of the construction company’s stock valued at $802,789,000 after buying an additional 16,871 shares during the last quarter. Pacer Advisors Inc. increased its holdings in PulteGroup by 8.6% in the second quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock valued at $326,864,000 after buying an additional 235,826 shares during the last quarter. Hsbc Holdings PLC raised its stake in PulteGroup by 19.6% in the second quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock valued at $168,254,000 after buying an additional 250,937 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in PulteGroup by 6.3% during the 3rd quarter. Victory Capital Management Inc. now owns 1,025,276 shares of the construction company’s stock worth $147,158,000 after buying an additional 60,854 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Price Performance

Shares of NYSE:PHM opened at $135.63 on Wednesday. The firm has a market capitalization of $27.82 billion, a price-to-earnings ratio of 10.00, a price-to-earnings-growth ratio of 0.56 and a beta of 1.63. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.73. The business’s 50 day simple moving average is $136.60 and its 200-day simple moving average is $126.17. PulteGroup, Inc. has a 12 month low of $86.59 and a 12 month high of $149.47.

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

PulteGroup Increases Dividend

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

Wall Street Analysts Forecast Growth

PHM has been the subject of a number of research analyst reports. Bank of America upped their price target on PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Wedbush reissued a “neutral” rating and issued a $115.00 target price on shares of PulteGroup in a report on Tuesday, October 22nd. Wolfe Research lowered PulteGroup from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. Evercore ISI decreased their price objective on PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Finally, Oppenheimer cut their target price on shares of PulteGroup from $168.00 to $165.00 and set an “outperform” rating on the stock 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $145.00.

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.