BBR Partners LLC Makes New $242,000 Investment in PulteGroup, Inc. (NYSE:PHM)

BBR Partners LLC purchased a new stake in PulteGroup, Inc. (NYSE:PHM) during the 3rd quarter, Holdings Channel reports. The firm purchased 1,688 shares of the construction company’s stock, valued at approximately $242,000.

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

PulteGroup Price Performance

Shares of NYSE:PHM opened at $136.53 on Thursday. The firm has a market cap of $28.00 billion, a price-to-earnings ratio of 10.07, a P/E/G ratio of 0.56 and a beta of 1.63. PulteGroup, Inc. has a 1 year low of $86.59 and a 1 year high of $149.47. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.14. The business has a fifty day simple moving average of $136.51 and a 200 day simple moving average of $126.25.

PulteGroup (NYSE:PHM) last issued its earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.25. The company had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.27 billion. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The business’s revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.90 EPS. As a group, sell-side analysts predict 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 paid a $0.22 dividend. The ex-dividend date is Tuesday, December 17th. This is a boost from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a yield of 0.64%. PulteGroup’s payout ratio is 6.49%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. UBS Group increased their target price on shares of PulteGroup from $148.00 to $154.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Evercore ISI reduced their price objective on PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. BTIG Research lifted their target price on PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Wells Fargo & Company upped their target price on PulteGroup from $150.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, Bank of America upped their price objective on shares of PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.00.

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.