Massachusetts Financial Services Co. MA lifted its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 163.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,517,431 shares of the construction company’s stock after buying an additional 942,057 shares during the period. Massachusetts Financial Services Co. MA owned about 0.53% of PulteGroup worth $37,586,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of PHM. Flagship Harbor Advisors LLC acquired a new stake in shares of PulteGroup in the 2nd quarter worth approximately $112,000. Rehmann Capital Advisory Group grew its holdings in shares of PulteGroup by 54.9% in the 2nd quarter. Rehmann Capital Advisory Group now owns 6,187 shares of the construction company’s stock worth $178,000 after acquiring an additional 2,193 shares during the period. Raymond James Trust N.A. acquired a new stake in shares of PulteGroup in the 2nd quarter worth approximately $232,000. Segall Bryant & Hamill LLC acquired a new stake in shares of PulteGroup in the 2nd quarter worth approximately $232,000. Finally, We Are One Seven LLC acquired a new stake in shares of PulteGroup in the 3rd quarter worth approximately $284,000. 85.91% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on PHM shares. Bank of America set a $32.00 price target on PulteGroup and gave the stock a “buy” rating in a report on Thursday, October 11th. Barclays set a $30.00 price target on PulteGroup and gave the stock a “hold” rating in a report on Friday, September 14th. Citigroup lowered their price target on PulteGroup from $32.00 to $26.00 and set a “hold” rating on the stock in a report on Wednesday, October 10th. JMP Securities restated a “hold” rating on shares of PulteGroup in a report on Tuesday, July 31st. Finally, Susquehanna Bancshares set a $32.00 price target on PulteGroup and gave the stock a “hold” rating in a report on Friday, July 27th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $31.13.
Shares of NYSE:PHM opened at $24.27 on Friday. The firm has a market cap of $6.82 billion, a price-to-earnings ratio of 7.27, a P/E/G ratio of 0.38 and a beta of 0.92. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.56 and a current ratio of 0.56. PulteGroup, Inc. has a one year low of $20.64 and a one year high of $35.21.
PulteGroup (NYSE:PHM) last announced its earnings results on Tuesday, October 23rd. The construction company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. The firm had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.62 billion. PulteGroup had a return on equity of 21.98% and a net margin of 8.63%. PulteGroup’s quarterly revenue was up 24.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.60 EPS. As a group, equities research analysts forecast that PulteGroup, Inc. will post 3.58 earnings per share for the current year.
In other PulteGroup news, Director Brian P. Anderson sold 5,000 shares of the stock in a transaction on Monday, August 27th. The stock was sold at an average price of $28.96, for a total transaction of $144,800.00. Following the sale, the director now owns 101,235 shares in the company, valued at approximately $2,931,765.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.86% of the stock is currently owned by corporate insiders.
PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company is involved in the acquisition and development of land primarily for residential purposes; and the construction of housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods names.
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