Adage Capital Partners GP L.L.C. Has $6.71 Million Stake in PulteGroup, Inc. (NYSE:PHM)

Adage Capital Partners GP L.L.C. increased its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 21.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,600 shares of the construction company’s stock after buying an additional 11,000 shares during the period. Adage Capital Partners GP L.L.C.’s holdings in PulteGroup were worth $6,708,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Franklin Resources Inc. grew its holdings in PulteGroup by 6.1% during the 4th quarter. Franklin Resources Inc. now owns 11,937,866 shares of the construction company’s stock worth $1,300,034,000 after acquiring an additional 683,592 shares during the period. Geode Capital Management LLC grew its holdings in shares of PulteGroup by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 5,120,878 shares of the construction company’s stock valued at $556,465,000 after buying an additional 64,947 shares during the period. Norges Bank acquired a new position in shares of PulteGroup in the 4th quarter valued at $427,562,000. Amundi grew its holdings in shares of PulteGroup by 77.9% in the 4th quarter. Amundi now owns 1,636,562 shares of the construction company’s stock valued at $180,775,000 after buying an additional 716,716 shares during the period. Finally, Nordea Investment Management AB grew its holdings in shares of PulteGroup by 10.0% in the 4th quarter. Nordea Investment Management AB now owns 1,424,119 shares of the construction company’s stock valued at $155,856,000 after buying an additional 129,975 shares during the period. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Stock Up 0.6 %

Shares of PHM stock opened at $102.51 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86. The firm’s 50-day moving average is $101.33 and its 200-day moving average is $114.39. The stock has a market cap of $20.55 billion, a price-to-earnings ratio of 6.97, a PEG ratio of 0.29 and a beta of 1.44. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $149.47.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, April 22nd. The construction company reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.10. The firm had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.86 billion. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. During the same period in the previous year, the firm earned $3.10 EPS. Sell-side analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup declared that its board has approved a share repurchase program on Thursday, January 30th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to buy up to 6.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

PulteGroup Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th were issued a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.88 annualized dividend and a yield of 0.86%. PulteGroup’s dividend payout ratio is presently 6.21%.

Insider Buying and Selling at PulteGroup

In other news, EVP Todd N. Sheldon sold 15,191 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $106.50, for a total transaction of $1,617,841.50. Following the completion of the transaction, the executive vice president now owns 74,758 shares of the company’s stock, valued at approximately $7,961,727. The trade was a 16.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brian P. Anderson sold 2,500 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $106.45, for a total value of $266,125.00. Following the transaction, the director now directly owns 56,617 shares of the company’s stock, valued at $6,026,879.65. This trade represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,191 shares of company stock valued at $2,256,367 in the last three months. Corporate insiders own 0.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PHM shares. Citigroup decreased their price target on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating for the company in a report on Monday, January 6th. UBS Group cut their price objective on shares of PulteGroup from $151.00 to $141.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Barclays cut their price objective on shares of PulteGroup from $100.00 to $98.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 23rd. Seaport Res Ptn raised shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 6th. Finally, Bank of America cut their price objective on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PulteGroup has an average rating of “Moderate Buy” and an average target price of $134.69.

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.