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

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in PulteGroup, Inc. (NYSE:PHM) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 46,678 shares of the construction company’s stock after purchasing 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 and hedge funds have also recently modified their holdings of the company. Hager Investment Management Services LLC purchased a new position in shares of PulteGroup in the 4th quarter worth $29,000. TD Waterhouse Canada Inc. lifted its holdings in shares of PulteGroup by 43.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company’s stock valued at $38,000 after acquiring an additional 105 shares during the last quarter. R Squared Ltd bought a new position in shares of PulteGroup in the 4th quarter valued at about $39,000. Quarry LP purchased a new position in PulteGroup in the fourth quarter worth about $43,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in PulteGroup by 41.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 444 shares of the construction company’s stock worth $48,000 after acquiring an additional 131 shares during the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PHM has been the subject of several analyst reports. Evercore ISI raised their price objective on PulteGroup from $161.00 to $165.00 and gave the company an “outperform” rating in a research note on Wednesday, April 23rd. Wedbush restated an “outperform” rating and issued a $135.00 price target on shares of PulteGroup in a research report on Tuesday, April 22nd. Wells Fargo & Company dropped their price objective on shares of PulteGroup from $140.00 to $120.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Barclays reduced their target price 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. Finally, UBS Group dropped their price target on shares of PulteGroup from $151.00 to $141.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $134.69.

PulteGroup Price Performance

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

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

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

PulteGroup Announces Dividend

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

PulteGroup Company 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.