Wellington Management Group LLP Buys New Holdings in PulteGroup, Inc. (NYSE:PHM)

Wellington Management Group LLP acquired a new stake in PulteGroup, Inc. (NYSE:PHM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 55,522 shares of the construction company’s stock, valued at approximately $5,731,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PHM. Stifel Financial Corp raised its stake in shares of PulteGroup by 50.0% during the 3rd quarter. Stifel Financial Corp now owns 52,692 shares of the construction company’s stock valued at $3,902,000 after buying an additional 17,569 shares during the last quarter. Treasurer of the State of North Carolina lifted its holdings in PulteGroup by 1.3% in the third quarter. Treasurer of the State of North Carolina now owns 124,870 shares of the construction company’s stock valued at $9,247,000 after acquiring an additional 1,543 shares during the period. Qube Research & Technologies Ltd purchased a new stake in PulteGroup in the 3rd quarter worth approximately $18,264,000. Bank of Nova Scotia grew its stake in shares of PulteGroup by 14.9% during the 3rd quarter. Bank of Nova Scotia now owns 20,398 shares of the construction company’s stock worth $1,510,000 after purchasing an additional 2,638 shares during the period. Finally, Sherbrooke Park Advisers LLC purchased a new position in shares of PulteGroup during the 3rd quarter valued at approximately $399,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

Wall Street Analysts Forecast Growth

PHM has been the topic of several analyst reports. Oppenheimer raised their price target on shares of PulteGroup from $138.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Barclays raised their price objective on PulteGroup from $126.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. StockNews.com raised PulteGroup from a “hold” rating to a “buy” rating in a research note on Wednesday, April 24th. Raymond James reissued an “outperform” rating and issued a $135.00 price target (up previously from $120.00) on shares of PulteGroup in a research note on Thursday, April 25th. Finally, Citigroup upped their price objective on shares of PulteGroup from $127.00 to $129.00 and gave the stock a “neutral” rating in a research report on Friday, May 17th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, PulteGroup presently has a consensus rating of “Moderate Buy” and an average price target of $113.07.

PulteGroup Price Performance

PHM stock opened at $110.10 on Friday. PulteGroup, Inc. has a 1 year low of $68.80 and a 1 year high of $122.72. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $23.16 billion, a PE ratio of 8.82, a price-to-earnings-growth ratio of 0.49 and a beta of 1.59. The business has a 50 day simple moving average of $114.11 and a 200-day simple moving average of $109.60.

PulteGroup (NYSE:PHM) last issued its earnings results on Tuesday, April 23rd. The construction company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.51. PulteGroup had a return on equity of 25.81% and a net margin of 16.63%. The company had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Equities research analysts anticipate that PulteGroup, Inc. will post 12.64 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 18th will be issued a $0.20 dividend. The ex-dividend date is Tuesday, June 18th. This represents a $0.80 annualized dividend and a yield of 0.73%. PulteGroup’s payout ratio is 6.41%.

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.