MERIAN GLOBAL INVESTORS UK Ltd raised its stake in PulteGroup, Inc. (NYSE:PHM) by 247.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,151,837 shares of the construction company’s stock after purchasing an additional 820,556 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd’s holdings in PulteGroup were worth $44,691,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of PHM. FinTrust Capital Advisors LLC purchased a new position in PulteGroup during the fourth quarter worth about $30,000. CWM LLC lifted its stake in shares of PulteGroup by 51.3% during the 4th quarter. CWM LLC now owns 793 shares of the construction company’s stock valued at $31,000 after buying an additional 269 shares in the last quarter. Executive Wealth Management LLC lifted its stake in shares of PulteGroup by 30.2% during the 3rd quarter. Executive Wealth Management LLC now owns 1,302 shares of the construction company’s stock valued at $47,000 after buying an additional 302 shares in the last quarter. KCS Wealth Advisory purchased a new stake in shares of PulteGroup during the 3rd quarter valued at approximately $60,000. Finally, AdvisorNet Financial Inc lifted its stake in shares of PulteGroup by 3,626.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 1,677 shares of the construction company’s stock valued at $61,000 after buying an additional 1,632 shares in the last quarter. 87.87% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:PHM traded down $0.04 during trading on Tuesday, reaching $46.65. The company had a trading volume of 2,179,572 shares, compared to its average volume of 3,513,719. The company has a fifty day moving average of $42.86 and a two-hundred day moving average of $38.26. The stock has a market capitalization of $12.61 billion, a P/E ratio of 12.75, a price-to-earnings-growth ratio of 1.10 and a beta of 0.55. PulteGroup, Inc. has a 12 month low of $25.24 and a 12 month high of $47.30. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.51.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Investors of record on Friday, March 13th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Thursday, March 12th. PulteGroup’s dividend payout ratio is currently 13.75%.
A number of brokerages recently commented on PHM. Evercore ISI upgraded shares of PulteGroup from an “in-line” rating to an “outperform” rating and upped their price target for the company from $43.00 to $49.00 in a research note on Tuesday, January 28th. Zacks Investment Research raised shares of PulteGroup from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a report on Wednesday, January 29th. KeyCorp upped their target price on shares of PulteGroup from $42.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Goldman Sachs Group assumed coverage on shares of PulteGroup in a report on Friday, December 6th. They set a “buy” rating and a $45.00 target price on the stock. Finally, Royal Bank of Canada upped their target price on shares of PulteGroup from $39.00 to $44.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. PulteGroup presently has a consensus rating of “Hold” and an average price target of $41.20.
PulteGroup Company Profile
PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company acquires and develops land primarily for residential purposes; and constructs housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods brand names.
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