PulteGroup, Inc. (NYSE:PHM) Shares Bought by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC grew its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 29.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,476 shares of the construction company’s stock after acquiring an additional 2,368 shares during the period. Lord Abbett & CO. LLC’s holdings in PulteGroup were worth $1,264,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Delta Investment Management LLC acquired a new stake in shares of PulteGroup during the first quarter valued at about $248,000. SageView Advisory Group LLC bought a new position in shares of PulteGroup during the first quarter worth about $297,000. D Orazio & Associates Inc. lifted its position in shares of PulteGroup by 10.7% during the first quarter. D Orazio & Associates Inc. now owns 2,733 shares of the construction company’s stock worth $330,000 after purchasing an additional 264 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of PulteGroup by 19.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 249,558 shares of the construction company’s stock worth $30,102,000 after purchasing an additional 40,052 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its position in shares of PulteGroup by 6.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 297,544 shares of the construction company’s stock worth $35,890,000 after purchasing an additional 17,369 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Stock Performance

Shares of PHM traded down $0.04 during mid-day trading on Friday, reaching $124.76. 2,077,820 shares of the company’s stock traded hands, compared to its average volume of 1,813,439. The business’s 50-day moving average price is $113.44 and its 200-day moving average price is $110.51. The stock has a market capitalization of $26.24 billion, a P/E ratio of 9.95, a price-to-earnings-growth ratio of 0.55 and a beta of 1.61. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.85. PulteGroup, Inc. has a 12 month low of $68.80 and a 12 month high of $129.85.

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

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 2nd. Investors of record on Tuesday, June 18th were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, June 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.64%. PulteGroup’s dividend payout ratio is presently 6.41%.

Analysts Set New Price Targets

Several brokerages have recently commented on PHM. Raymond James reaffirmed an “outperform” rating and set a $135.00 price target (up previously from $120.00) on shares of PulteGroup in a research report on Thursday, April 25th. Barclays reduced their price target on shares of PulteGroup from $136.00 to $131.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Evercore ISI increased their price target on shares of PulteGroup from $183.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday. StockNews.com raised shares of PulteGroup from a “hold” rating to a “buy” rating in a research report on Wednesday, April 24th. Finally, Zelman & Associates raised shares of PulteGroup from a “neutral” rating to an “outperform” rating in a report on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $117.00.

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.