Tidal Investments LLC Boosts Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Tidal Investments LLC boosted its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 28.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 223,715 shares of the construction company’s stock after acquiring an additional 49,988 shares during the period. Tidal Investments LLC owned 0.11% of PulteGroup worth $24,363,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new position in PulteGroup during the fourth quarter valued at $427,562,000. Amundi lifted 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 worth $180,775,000 after acquiring an additional 716,716 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of PulteGroup by 6.1% in 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 last quarter. Man Group plc lifted its holdings in shares of PulteGroup by 136.8% in the 4th quarter. Man Group plc now owns 988,963 shares of the construction company’s stock worth $107,698,000 after acquiring an additional 571,251 shares during the last quarter. Finally, Bridgewater Associates LP increased its stake in PulteGroup by 118.8% in the 4th quarter. Bridgewater Associates LP now owns 783,581 shares of the construction company’s stock worth $85,332,000 after buying an additional 425,492 shares during the period. 89.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PHM. Barclays reduced their price target on shares of PulteGroup from $100.00 to $98.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 23rd. Seaport Res Ptn raised shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 6th. Royal Bank of Canada reduced their price target on shares of PulteGroup from $116.00 to $109.00 and set a “sector perform” rating on the stock in a research note on Wednesday, April 23rd. UBS Group cut their target price 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. Finally, Wedbush reissued an “outperform” rating and set a $135.00 target price on shares of PulteGroup in a research report on Tuesday, April 22nd. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $134.69.

PulteGroup Stock Up 1.5%

Shares of PulteGroup stock opened at $104.34 on Friday. The firm’s 50 day moving average price is $100.86 and its 200-day moving average price is $111.12. 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, Inc. has a 52-week low of $88.07 and a 52-week high of $149.47. The company has a market cap of $20.91 billion, a P/E ratio of 7.09, a PEG ratio of 0.29 and a beta of 1.37.

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

PulteGroup Dividend Announcement

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

PulteGroup announced that its Board of Directors has authorized a stock repurchase program on Thursday, January 30th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 6.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

PulteGroup 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.