Baader Bank Aktiengesellschaft Reduces Stock Position in PulteGroup, Inc. (NYSE:PHM)

Baader Bank Aktiengesellschaft lessened its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 4.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,690 shares of the construction company’s stock after selling 235 shares during the period. Baader Bank Aktiengesellschaft’s holdings in PulteGroup were worth $620,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PHM. FMR LLC increased its stake in shares of PulteGroup by 102.3% during the third quarter. FMR LLC now owns 9,040,828 shares of the construction company’s stock valued at $1,297,630,000 after buying an additional 4,571,757 shares during the period. Franklin Resources Inc. boosted its holdings in PulteGroup by 5.5% in the third quarter. Franklin Resources Inc. now owns 11,254,274 shares of the construction company’s stock valued at $1,647,364,000 after acquiring an additional 585,735 shares in the last quarter. Westfield Capital Management Co. LP purchased a new position in PulteGroup during the 3rd quarter valued at $66,485,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in PulteGroup by 357.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 521,958 shares of the construction company’s stock worth $74,917,000 after purchasing an additional 407,764 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of PulteGroup by 1,020.0% in the 3rd quarter. KBC Group NV now owns 435,925 shares of the construction company’s stock worth $62,568,000 after purchasing an additional 397,003 shares during the period. Institutional investors own 89.90% of the company’s stock.

PulteGroup Trading Up 4.8 %

Shares of NYSE PHM opened at $118.47 on Friday. The firm’s 50 day moving average price is $118.23 and its 200-day moving average price is $127.48. PulteGroup, Inc. has a 52-week low of $100.24 and a 52-week high of $149.47. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73. The company has a market cap of $24.30 billion, a PE ratio of 8.74, a P/E/G ratio of 0.46 and a beta of 1.67.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $3.28 by $0.22. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. On average, equities research analysts expect that PulteGroup, Inc. will post 12.96 EPS for the current fiscal year.

PulteGroup declared that its Board of Directors has authorized a share buyback plan on Thursday, January 30th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to buy up to 6.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

PulteGroup Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend was Tuesday, December 17th. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. PulteGroup’s dividend payout ratio (DPR) is presently 6.49%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PHM shares. JPMorgan Chase & Co. decreased their price target on shares of PulteGroup from $162.00 to $155.00 and set an “overweight” rating for the company in a research note on Friday, December 13th. The Goldman Sachs Group decreased their target price on PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Oppenheimer lowered their target price on PulteGroup from $168.00 to $165.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Bank of America reduced their price target on PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Wells Fargo & Company lowered their price objective on PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $142.29.

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.