PulteGroup, Inc. (NYSE:PHM) Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in PulteGroup, Inc. (NYSE:PHM) by 2.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 21,313 shares of the construction company’s stock after purchasing an additional 559 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in PulteGroup were worth $2,200,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Arlington Trust Co LLC acquired a new stake in shares of PulteGroup in the third quarter valued at about $33,000. Baystate Wealth Management LLC grew its stake in shares of PulteGroup by 186.5% in the third quarter. Baystate Wealth Management LLC now owns 490 shares of the construction company’s stock valued at $36,000 after buying an additional 319 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of PulteGroup in the third quarter valued at about $36,000. Rakuten Securities Inc. acquired a new stake in shares of PulteGroup in the fourth quarter valued at about $37,000. Finally, Lindbrook Capital LLC grew its stake in shares of PulteGroup by 335.6% in the fourth quarter. Lindbrook Capital LLC now owns 379 shares of the construction company’s stock valued at $39,000 after buying an additional 292 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Oppenheimer increased their target price on PulteGroup from $138.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday. Citigroup increased their price target on PulteGroup from $116.00 to $127.00 and gave the company a “neutral” rating in a report on Friday, April 5th. UBS Group downgraded PulteGroup from a “buy” rating to a “neutral” rating and increased their price target for the company from $93.00 to $120.00 in a report on Thursday, January 4th. Zelman & Associates raised PulteGroup from a “neutral” rating to an “outperform” rating in a report on Wednesday. Finally, The Goldman Sachs Group increased their price target on PulteGroup from $91.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday, January 11th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.73.

Insider Buying and Selling

In related news, VP Brien P. O’meara sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $103.09, for a total value of $206,180.00. Following the sale, the vice president now owns 15,389 shares of the company’s stock, valued at approximately $1,586,452.01. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.83% of the company’s stock.

PulteGroup Trading Down 0.4 %

NYSE:PHM opened at $112.26 on Thursday. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average is $110.90 and its two-hundred day moving average is $99.05. PulteGroup, Inc. has a 52 week low of $64.41 and a 52 week high of $121.07. The company has a market cap of $23.69 billion, a PE ratio of 8.99, a P/E/G ratio of 0.55 and a beta of 1.56.

PulteGroup (NYSE:PHM) last released 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 company had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.47 billion. PulteGroup had a return on equity of 25.81% and a net margin of 16.63%. PulteGroup’s quarterly revenue was down 15.5% compared to the same quarter last year. During the same quarter last year, the business posted $3.63 EPS. On average, analysts predict that PulteGroup, Inc. will post 11.79 EPS for the current year.

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Friday, March 15th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.71%. The ex-dividend date was Thursday, March 14th. PulteGroup’s dividend payout ratio (DPR) is 6.41%.

PulteGroup announced that its Board of Directors has initiated a stock repurchase program on Tuesday, January 30th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the construction company to reacquire up to 6.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

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.