Mirae Asset Global Investments Co. Ltd. Boosts Stock Position in PulteGroup, Inc. $PHM

Mirae Asset Global Investments Co. Ltd. lifted its position in PulteGroup, Inc. (NYSE:PHM) by 15.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 35,669 shares of the construction company’s stock after purchasing an additional 4,905 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in PulteGroup were worth $4,183,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Nordea Investment Management AB increased its holdings in shares of PulteGroup by 2.4% in the fourth quarter. Nordea Investment Management AB now owns 573,065 shares of the construction company’s stock worth $67,387,000 after purchasing an additional 13,259 shares during the period. Principal Financial Group Inc. increased its holdings in shares of PulteGroup by 24.2% in the third quarter. Principal Financial Group Inc. now owns 312,935 shares of the construction company’s stock worth $41,348,000 after purchasing an additional 61,009 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of PulteGroup by 10.5% in the third quarter. Nisa Investment Advisors LLC now owns 105,470 shares of the construction company’s stock worth $13,959,000 after purchasing an additional 10,028 shares during the period. EFG Asset Management Americas Corp. increased its holdings in shares of PulteGroup by 351.9% in the third quarter. EFG Asset Management Americas Corp. now owns 46,752 shares of the construction company’s stock worth $6,177,000 after purchasing an additional 36,407 shares during the period. Finally, Dorato Capital Management bought a new position in shares of PulteGroup in the fourth quarter worth $2,625,000. Institutional investors own 89.90% of the company’s stock.

Insiders Place Their Bets

In related news, COO Matthew William Koart sold 15,309 shares of the stock in a transaction on Friday, February 6th. The stock was sold at an average price of $135.79, for a total value of $2,078,809.11. Following the transaction, the chief operating officer owned 42,418 shares of the company’s stock, valued at $5,759,940.22. This represents a 26.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ryan Marshall sold 111,250 shares of the stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $133.86, for a total value of $14,891,925.00. Following the completion of the transaction, the insider directly owned 659,392 shares in the company, valued at approximately $88,266,213.12. This represents a 14.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 149,952 shares of company stock valued at $20,162,165 over the last quarter. Insiders own 0.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PHM. UBS Group reaffirmed a “buy” rating on shares of PulteGroup in a report on Thursday, March 12th. Seaport Research Partners reaffirmed a “sell” rating and issued a $100.00 price target (down from $155.00) on shares of PulteGroup in a report on Tuesday, April 7th. Citizens Jmp initiated coverage on PulteGroup in a research note on Wednesday, January 7th. They issued a “market outperform” rating and a $145.00 target price on the stock. Barclays reduced their target price on PulteGroup from $115.00 to $112.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Finally, JPMorgan Chase & Co. reduced their target price on PulteGroup from $149.00 to $131.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 3rd. Eleven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $138.79.

PulteGroup Stock Up 1.0%

PHM opened at $128.71 on Wednesday. The stock has a market cap of $24.66 billion, a PE ratio of 11.57, a P/E/G ratio of 1.49 and a beta of 1.33. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a 52 week low of $94.93 and a 52 week high of $144.49. The business’s fifty day simple moving average is $126.26 and its 200 day simple moving average is $124.69.

PulteGroup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Investors of record on Tuesday, March 17th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, March 17th. PulteGroup’s dividend payout ratio is currently 9.35%.

PulteGroup 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.