Ballentine Partners LLC Has $383,000 Position in PulteGroup, Inc. $PHM

Ballentine Partners LLC lifted its position in shares of PulteGroup, Inc. (NYSE:PHM) by 3.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,630 shares of the construction company’s stock after buying an additional 112 shares during the period. Ballentine Partners LLC’s holdings in PulteGroup were worth $383,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of PHM. Two Sigma Investments LP acquired a new position in shares of PulteGroup during the fourth quarter worth about $3,110,000. Two Sigma Advisers LP acquired a new position in PulteGroup during the fourth quarter valued at approximately $915,000. 111 Capital acquired a new position in PulteGroup during the fourth quarter valued at approximately $240,000. First Hawaiian Bank boosted its position in PulteGroup by 37.2% during the first quarter. First Hawaiian Bank now owns 3,362 shares of the construction company’s stock valued at $346,000 after purchasing an additional 912 shares during the last quarter. Finally, Versant Capital Management Inc boosted its position in PulteGroup by 559.7% during the first quarter. Versant Capital Management Inc now owns 4,235 shares of the construction company’s stock valued at $435,000 after purchasing an additional 3,593 shares during the last quarter. 89.90% of the stock is owned by institutional investors and hedge funds.

PulteGroup Stock Up 1.9%

Shares of NYSE:PHM opened at $131.21 on Friday. The firm has a market cap of $25.89 billion, a P/E ratio of 9.81, a P/E/G ratio of 0.39 and a beta of 1.27. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-month high of $149.47. The business has a fifty day simple moving average of $127.56 and a 200 day simple moving average of $111.15.

PulteGroup (NYSE:PHM) last announced its earnings results on Tuesday, July 22nd. The construction company reported $3.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.11. The business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.42 billion. PulteGroup had a return on equity of 21.01% and a net margin of 15.50%.PulteGroup’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period last year, the company earned $3.83 EPS. Analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Tuesday, September 16th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, September 16th. PulteGroup’s dividend payout ratio (DPR) is currently 6.58%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PHM. Wedbush reissued an “outperform” rating and set a $150.00 price target on shares of PulteGroup in a research report on Wednesday, August 13th. Raymond James Financial reissued an “outperform” rating and set a $140.00 price target (up from $115.00) on shares of PulteGroup in a research report on Wednesday, July 23rd. UBS Group increased their price target on PulteGroup from $141.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Citigroup upped their price objective on PulteGroup from $128.00 to $132.00 and gave the company a “neutral” rating in a research note on Wednesday, July 23rd. Finally, Oppenheimer upped their price objective on PulteGroup from $132.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $136.46.

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.