Sumitomo Mitsui DS Asset Management Company Ltd Purchases 277 Shares of PulteGroup, Inc. (NYSE:PHM)

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in PulteGroup, Inc. (NYSE:PHM) by 1.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,458 shares of the construction company’s stock after acquiring an additional 277 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in PulteGroup were worth $2,446,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Measured Wealth Private Client Group LLC boosted its position in PulteGroup by 70.5% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 2,893 shares of the construction company’s stock worth $315,000 after purchasing an additional 1,196 shares during the last quarter. Oakworth Capital Inc. lifted its stake in shares of PulteGroup by 642.2% in the 4th quarter. Oakworth Capital Inc. now owns 475 shares of the construction company’s stock worth $52,000 after purchasing an additional 411 shares during the period. Caitlin John LLC boosted its holdings in shares of PulteGroup by 4.3% in the fourth quarter. Caitlin John LLC now owns 15,775 shares of the construction company’s stock worth $1,718,000 after buying an additional 651 shares during the last quarter. Choreo LLC grew its position in PulteGroup by 51.2% during the fourth quarter. Choreo LLC now owns 6,629 shares of the construction company’s stock valued at $723,000 after buying an additional 2,246 shares during the period. Finally, Hager Investment Management Services LLC purchased a new stake in PulteGroup during the fourth quarter valued at approximately $29,000. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Up 0.6 %

NYSE:PHM opened at $106.55 on Tuesday. The company’s 50-day simple moving average is $115.02 and its 200-day simple moving average is $126.92. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.73 and a current ratio of 0.86. PulteGroup, Inc. has a fifty-two week low of $100.24 and a fifty-two week high of $149.47. The stock has a market capitalization of $21.85 billion, a P/E ratio of 7.24, a P/E/G ratio of 0.29 and a beta of 1.68.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, topping the consensus estimate of $3.28 by $0.22. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. On average, equities analysts anticipate that PulteGroup, Inc. will post 12.43 earnings per share for the current fiscal year.

PulteGroup declared that its Board of Directors has authorized a share repurchase program on Thursday, January 30th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the construction company to buy up to 6.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

PulteGroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be given a dividend of $0.22 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 annualized dividend and a yield of 0.83%. PulteGroup’s dividend payout ratio is presently 5.98%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PHM shares. JPMorgan Chase & Co. dropped their price target on shares of PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a research note on Friday, December 13th. Citigroup cut their price target on PulteGroup from $146.00 to $119.00 and set a “neutral” rating for the company in a report on Monday, January 6th. The Goldman Sachs Group reduced their price target on PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Bank of America lowered their price objective on PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. Finally, Barclays reduced their target price on shares of PulteGroup from $125.00 to $117.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $140.86.

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.