Systematic Financial Management LP Has $14.30 Million Position in PulteGroup, Inc. $PHM

Systematic Financial Management LP lifted its holdings in PulteGroup, Inc. (NYSE:PHM) by 6.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 135,580 shares of the construction company’s stock after purchasing an additional 8,047 shares during the quarter. Systematic Financial Management LP’s holdings in PulteGroup were worth $14,298,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Franklin Resources Inc. raised its stake in shares of PulteGroup by 0.8% in the second quarter. Franklin Resources Inc. now owns 12,290,631 shares of the construction company’s stock worth $1,296,170,000 after acquiring an additional 95,058 shares during the last quarter. Norges Bank acquired a new position in PulteGroup during the 2nd quarter worth $404,339,000. JPMorgan Chase & Co. boosted its position in PulteGroup by 40.3% in the 1st quarter. JPMorgan Chase & Co. now owns 3,486,330 shares of the construction company’s stock valued at $358,395,000 after buying an additional 1,001,290 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of PulteGroup by 11.8% during the first quarter. Ameriprise Financial Inc. now owns 2,570,022 shares of the construction company’s stock valued at $264,216,000 after acquiring an additional 271,917 shares during the period. Finally, Nuveen LLC bought a new position in PulteGroup in the first quarter valued at about $213,092,000. Institutional investors own 89.90% of the company’s stock.

Analyst Ratings Changes

PHM has been the topic of a number of research reports. Wedbush restated an “outperform” rating and set a $150.00 target price on shares of PulteGroup in a research report on Tuesday, October 21st. Bank of America cut their price target on PulteGroup from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, October 10th. BTIG Research began coverage on PulteGroup in a research note on Monday. They set a “neutral” rating for the company. Citigroup boosted their target price on PulteGroup from $132.00 to $143.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 1st. Finally, Evercore ISI decreased their price objective on shares of PulteGroup from $154.00 to $134.00 and set an “in-line” rating for the company in a report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, PulteGroup presently has a consensus rating of “Moderate Buy” and an average price target of $133.67.

PulteGroup Stock Down 0.5%

Shares of PHM stock opened at $126.60 on Wednesday. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-month high of $142.11. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.13. The firm has a fifty day moving average of $123.46 and a 200-day moving average of $118.65. The company has a market capitalization of $24.68 billion, a price-to-earnings ratio of 9.75, a P/E/G ratio of 0.95 and a beta of 1.25.

PulteGroup (NYSE:PHM) last announced its earnings results on Tuesday, October 21st. The construction company reported $2.96 earnings per share for the quarter, topping analysts’ consensus estimates of $2.86 by $0.10. PulteGroup had a net margin of 14.93% and a return on equity of 19.58%. The firm had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same period in the prior year, the business earned $3.35 EPS. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, equities research analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 16th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. This is a boost from PulteGroup’s previous quarterly dividend of $0.22. The ex-dividend date is Tuesday, December 16th. PulteGroup’s dividend payout ratio is 8.01%.

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.