Adage Capital Partners GP L.L.C. Has $5.12 Million Position in PulteGroup, Inc. $PHM

Adage Capital Partners GP L.L.C. reduced its stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 19.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,800 shares of the construction company's stock after selling 11,800 shares during the period. Adage Capital Partners GP L.L.C.'s holdings in PulteGroup were worth $5,119,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Retirement Planning Co of New England Inc. acquired a new stake in shares of PulteGroup in the 1st quarter valued at $406,000. Quarry LP raised its holdings in PulteGroup by 43.8% during the first quarter. Quarry LP now owns 571 shares of the construction company's stock valued at $59,000 after buying an additional 174 shares in the last quarter. Nomura Holdings Inc. raised its holdings in PulteGroup by 670.8% during the first quarter. Nomura Holdings Inc. now owns 6,390 shares of the construction company's stock valued at $657,000 after buying an additional 5,561 shares in the last quarter. Vident Advisory LLC raised its holdings in PulteGroup by 45.6% during the first quarter. Vident Advisory LLC now owns 23,181 shares of the construction company's stock valued at $2,383,000 after buying an additional 7,265 shares in the last quarter. Finally, Evergreen Capital Management LLC bought a new position in PulteGroup during the first quarter valued at about $288,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PHM shares. Wells Fargo & Company raised their target price on PulteGroup from $135.00 to $150.00 and gave the company an "overweight" rating in a report on Tuesday, September 2nd. Citigroup raised their target price on PulteGroup from $128.00 to $132.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Raymond James Financial restated an "outperform" rating and set a $140.00 target price (up from $115.00) on shares of PulteGroup in a report on Wednesday, July 23rd. Seaport Res Ptn upgraded PulteGroup from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 22nd. Finally, Royal Bank Of Canada boosted their target price on shares of PulteGroup from $109.00 to $112.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, PulteGroup presently has an average rating of "Moderate Buy" and an average price target of $136.46.

PulteGroup Stock Performance

PulteGroup stock traded up $3.46 on Thursday, reaching $138.87. 1,088,589 shares of the stock were exchanged, compared to its average volume of 2,154,511. The firm has a fifty day moving average price of $122.22 and a two-hundred day moving average price of $108.78. The stock has a market cap of $27.40 billion, a PE ratio of 10.38, a PEG ratio of 0.40 and a beta of 1.27. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.03 EPS for the quarter, beating analysts' consensus estimates 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 net margin of 15.50% and a return on equity of 21.01%. The firm's revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.83 earnings per share. Sell-side analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.6%. PulteGroup's dividend payout ratio is currently 6.58%.

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.