Mirae Asset Global Investments Co. Ltd. Grows Stock Position in PulteGroup, Inc. (NYSE:PHM)

Mirae Asset Global Investments Co. Ltd. increased its position in shares of PulteGroup, Inc. (NYSE:PHM) by 60.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 103,294 shares of the construction company’s stock after buying an additional 38,911 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in PulteGroup were worth $10,662,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Coppell Advisory Solutions LLC purchased a new stake in shares of PulteGroup during the 2nd quarter valued at approximately $29,000. AdvisorNet Financial Inc raised its position in shares of PulteGroup by 91.5% during the 4th quarter. AdvisorNet Financial Inc now owns 427 shares of the construction company’s stock valued at $44,000 after buying an additional 204 shares during the period. Arlington Trust Co LLC purchased a new stake in shares of PulteGroup during the 3rd quarter valued at approximately $33,000. Clear Street Markets LLC raised its position in shares of PulteGroup by 90.9% during the 1st quarter. Clear Street Markets LLC now owns 441 shares of the construction company’s stock valued at $26,000 after buying an additional 210 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of PulteGroup during the 3rd quarter valued at approximately $36,000. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Insider Buying and Selling

In related news, VP Brien P. O’meara sold 2,000 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total transaction of $206,180.00. Following the completion of the transaction, the vice president now owns 15,389 shares in the company, valued at $1,586,452.01. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.83% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on PHM shares. Citigroup lifted their price target on shares of PulteGroup from $116.00 to $127.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Barclays lifted their target price on shares of PulteGroup from $126.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Wedbush reiterated a “neutral” rating and issued a $85.00 target price on shares of PulteGroup in a report on Wednesday, January 31st. UBS Group downgraded shares of PulteGroup from a “buy” rating to a “neutral” rating and lifted their target price for the company from $93.00 to $120.00 in a report on Thursday, January 4th. Finally, The Goldman Sachs Group lifted their target price on shares of PulteGroup from $91.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday, January 11th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $106.47.

PulteGroup Stock Performance

Shares of PHM stock opened at $110.59 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19. The firm has a fifty day moving average price of $110.05 and a 200 day moving average price of $96.65. The company has a market cap of $23.33 billion, a P/E ratio of 9.42, a PEG ratio of 0.53 and a beta of 1.56. PulteGroup, Inc. has a 12 month low of $59.19 and a 12 month high of $121.07.

PulteGroup (NYSE:PHM) last issued its earnings results on Tuesday, January 30th. The construction company reported $3.28 EPS for the quarter, topping analysts’ consensus estimates of $3.21 by $0.07. The firm had revenue of $4.29 billion during the quarter, compared to the consensus estimate of $4.47 billion. PulteGroup had a net margin of 16.20% and a return on equity of 25.97%. The company’s revenue was down 15.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.63 earnings per share. Sell-side analysts predict that PulteGroup, Inc. will post 11.79 earnings per share for the current fiscal year.

PulteGroup announced that its Board of Directors has authorized a share repurchase plan on Tuesday, January 30th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the construction company to purchase up to 6.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

PulteGroup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Friday, March 15th were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.72%. PulteGroup’s payout ratio is currently 6.81%.

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.