Myriad Asset Management US LP Purchases New Position in PulteGroup, Inc. $PHM

Myriad Asset Management US LP bought a new position in PulteGroup, Inc. (NYSE:PHM) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 8,826 shares of the construction company’s stock, valued at approximately $1,166,000.

A number of other hedge funds and other institutional investors have also modified their holdings of PHM. Twin Peaks Wealth Advisors LLC acquired a new position in PulteGroup during the second quarter valued at approximately $32,000. Rexford Capital Inc. acquired a new stake in PulteGroup during the second quarter worth about $35,000. Private Wealth Management Group LLC boosted its stake in PulteGroup by 281.7% during the third quarter. Private Wealth Management Group LLC now owns 271 shares of the construction company’s stock worth $36,000 after buying an additional 200 shares in the last quarter. Hager Investment Management Services LLC boosted its position in shares of PulteGroup by 33.3% during the 2nd quarter. Hager Investment Management Services LLC now owns 420 shares of the construction company’s stock valued at $44,000 after acquiring an additional 105 shares in the last quarter. Finally, True Wealth Design LLC raised its holdings in shares of PulteGroup by 229.6% in the 3rd quarter. True Wealth Design LLC now owns 356 shares of the construction company’s stock worth $47,000 after buying an additional 248 shares in the last quarter. Institutional investors own 89.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. BTIG Research started coverage on PulteGroup in a research note on Monday, December 1st. They issued a “neutral” rating on the stock. Citizens Jmp assumed coverage on shares of PulteGroup in a research report on Wednesday, January 7th. They set a “market outperform” rating and a $145.00 target price for the company. Evercore ISI reduced their price target on shares of PulteGroup from $154.00 to $134.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 22nd. JPMorgan Chase & Co. upped their price objective on shares of PulteGroup from $136.00 to $149.00 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. Finally, Barclays set a $115.00 price target on PulteGroup in a research report on Monday, December 8th. Nine investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $138.85.

PulteGroup Stock Performance

PHM stock opened at $127.69 on Friday. The business’s 50-day moving average price is $123.56 and its two-hundred day moving average price is $124.11. PulteGroup, Inc. has a 1-year low of $88.07 and a 1-year high of $142.11. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.13. The firm has a market cap of $24.89 billion, a PE ratio of 9.83, a P/E/G ratio of 1.06 and a beta of 1.33.

PulteGroup (NYSE:PHM) last announced its earnings results on Tuesday, October 21st. The construction company reported $2.96 earnings per share for the quarter, topping analysts’ consensus estimates of $2.86 by $0.10. PulteGroup had a net margin of 14.93% and a return on equity of 19.58%. The firm had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same period in the prior year, the business earned $3.35 EPS. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, research analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Tuesday, December 16th were issued a dividend of $0.26 per share. The ex-dividend date was Tuesday, December 16th. This is a boost from PulteGroup’s previous quarterly dividend of $0.22. This represents a $1.04 annualized dividend and a yield of 0.8%. PulteGroup’s dividend payout ratio is currently 8.01%.

PulteGroup Company Profile

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.