PulteGroup, Inc. (NYSE:PHM) Shares Acquired by Coldstream Capital Management Inc.

Coldstream Capital Management Inc. increased its position in PulteGroup, Inc. (NYSE:PHM) by 21.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,396 shares of the construction company’s stock after acquiring an additional 763 shares during the period. Coldstream Capital Management Inc.’s holdings in PulteGroup were worth $454,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. grew its holdings in shares of PulteGroup by 1.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 32,649 shares of the construction company’s stock worth $3,370,000 after acquiring an additional 414 shares during the period. Dynamic Technology Lab Private Ltd lifted its stake in PulteGroup by 128.2% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 10,975 shares of the construction company’s stock valued at $1,133,000 after buying an additional 6,166 shares in the last quarter. Norges Bank purchased a new stake in PulteGroup in the 4th quarter valued at approximately $381,960,000. AMG National Trust Bank purchased a new stake in PulteGroup in the 4th quarter valued at approximately $219,000. Finally, Independent Advisor Alliance purchased a new stake in PulteGroup in the 4th quarter valued at approximately $243,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PHM. Barclays upped their target price on PulteGroup from $126.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Raymond James reaffirmed an “outperform” rating and issued a $135.00 target price (up previously from $120.00) on shares of PulteGroup in a research note on Thursday, April 25th. Zelman & Associates raised PulteGroup from a “neutral” rating to an “outperform” rating in a research note on Wednesday, April 24th. Jefferies Financial Group upped their target price on PulteGroup from $126.00 to $131.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, Wedbush reissued a “neutral” rating and set a $85.00 price target on shares of PulteGroup in a research note on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $111.87.

PulteGroup Trading Down 1.3 %

Shares of PHM opened at $112.74 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $23.71 billion, a P/E ratio of 9.03, a price-to-earnings-growth ratio of 0.51 and a beta of 1.56. The stock’s fifty day simple moving average is $114.20 and its 200 day simple moving average is $105.06. PulteGroup, Inc. has a twelve month low of $65.28 and a twelve month high of $122.72.

PulteGroup (NYSE:PHM) last issued its earnings results on Tuesday, April 23rd. The construction company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.51. The business had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.59 billion. PulteGroup had a return on equity of 25.81% and a net margin of 16.63%. On average, equities research analysts forecast that PulteGroup, Inc. will post 12.64 earnings per share for the current year.

PulteGroup announced that its Board of Directors has initiated a stock 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 repurchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

PulteGroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Tuesday, June 18th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, June 18th. This represents a $0.80 annualized dividend and a yield of 0.71%. PulteGroup’s dividend payout ratio is currently 6.41%.

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.