Jennison Associates LLC Makes New Investment in PulteGroup, Inc. (NYSE:PHM)

Jennison Associates LLC acquired a new position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,379 shares of the construction company's stock, valued at approximately $1,021,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Fortitude Family Office LLC raised its position in shares of PulteGroup by 115.1% during the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company's stock worth $27,000 after purchasing an additional 99 shares during the last quarter. Transcendent Capital Group LLC purchased a new stake in PulteGroup during the 3rd quarter worth approximately $29,000. JNBA Financial Advisors acquired a new position in shares of PulteGroup during the third quarter valued at approximately $43,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of PulteGroup by 1,059.3% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 313 shares of the construction company's stock valued at $45,000 after acquiring an additional 286 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in shares of PulteGroup in the fourth quarter worth approximately $39,000. 89.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on PHM shares. StockNews.com downgraded PulteGroup from a "buy" rating to a "hold" rating in a research note on Wednesday, December 11th. UBS Group raised their price target on shares of PulteGroup from $148.00 to $151.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. Evercore ISI dropped their price objective on shares of PulteGroup from $198.00 to $195.00 and set an "outperform" rating for the company in a research note on Wednesday, October 23rd. Bank of America decreased their target price on shares of PulteGroup from $135.00 to $134.00 and set a "buy" rating on the stock in a research note on Monday, January 27th. Finally, The Goldman Sachs Group lowered their target price on PulteGroup from $140.00 to $124.00 and set a "neutral" rating on the stock in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, PulteGroup presently has an average rating of "Moderate Buy" and a consensus target price of $140.86.

PulteGroup Trading Up 0.6 %

Shares of PulteGroup stock traded up $0.68 during trading hours on Monday, hitting $106.55. The company's stock had a trading volume of 1,963,395 shares, compared to its average volume of 2,322,281. The firm has a fifty day moving average of $115.02 and a 200-day moving average of $126.92. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.73 and a current ratio of 0.86. The stock has a market cap of $21.85 billion, a price-to-earnings ratio of 7.24, a P/E/G ratio of 0.29 and a beta of 1.68. PulteGroup, Inc. has a twelve month low of $100.24 and a twelve month high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last posted its earnings results on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, beating analysts' consensus estimates of $3.28 by $0.22. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. Research analysts forecast that PulteGroup, Inc. will post 12.43 EPS for the current year.

PulteGroup declared that its board has approved a share repurchase program on Thursday, January 30th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the construction company to purchase up to 6.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

PulteGroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.88 annualized dividend and a yield of 0.83%. PulteGroup's dividend payout ratio (DPR) is presently 5.98%.

PulteGroup Company 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.