MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Stock Position in PulteGroup, Inc. (NYSE:PHM)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in PulteGroup, Inc. (NYSE:PHM) by 2.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,678 shares of the construction company’s stock after acquiring an additional 975 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in PulteGroup were worth $5,083,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Jefferies Financial Group Inc. purchased a new stake in shares of PulteGroup during the 4th quarter valued at about $2,963,000. Guardian Wealth Advisors LLC NC lifted its position in PulteGroup by 33.7% during the fourth quarter. Guardian Wealth Advisors LLC NC now owns 2,103 shares of the construction company’s stock valued at $229,000 after purchasing an additional 530 shares during the period. Graham Capital Management L.P. purchased a new stake in PulteGroup in the fourth quarter worth approximately $958,000. Focus Partners Wealth grew its position in PulteGroup by 8.6% in the 4th quarter. Focus Partners Wealth now owns 10,389 shares of the construction company’s stock worth $1,133,000 after purchasing an additional 827 shares during the period. Finally, Ensign Peak Advisors Inc raised its stake in PulteGroup by 4.1% during the 4th quarter. Ensign Peak Advisors Inc now owns 101,163 shares of the construction company’s stock valued at $11,017,000 after buying an additional 4,005 shares during the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Wells Fargo & Company cut their price objective on PulteGroup from $140.00 to $120.00 and set an “overweight” rating for the company in a report on Monday, April 14th. UBS Group reduced their price target on shares of PulteGroup from $151.00 to $141.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Evercore ISI increased their price objective on shares of PulteGroup from $161.00 to $165.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 23rd. Oppenheimer cut their target price on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a research report on Friday, January 31st. Finally, Wedbush reaffirmed an “outperform” rating and set a $135.00 target price on shares of PulteGroup in a report on Tuesday, April 22nd. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, PulteGroup presently has an average rating of “Moderate Buy” and a consensus target price of $134.69.

PulteGroup Price Performance

NYSE:PHM opened at $104.34 on Monday. The business’s 50-day simple moving average is $100.86 and its two-hundred day simple moving average is $110.99. PulteGroup, Inc. has a 52 week low of $88.07 and a 52 week high of $149.47. The stock has a market cap of $20.91 billion, a PE ratio of 7.09, a P/E/G ratio of 0.29 and a beta of 1.37. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13.

PulteGroup (NYSE:PHM) last issued its earnings results on Tuesday, April 22nd. The construction company reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.10. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. The company had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.86 billion. During the same quarter last year, the company earned $3.10 EPS. As a group, analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 17th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.84%. PulteGroup’s dividend payout ratio is 6.21%.

PulteGroup announced that its Board of Directors has initiated a share repurchase plan on Thursday, January 30th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the construction company to purchase up to 6.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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.