ProShare Advisors LLC Increases Position in PulteGroup, Inc. (NYSE:PHM)

ProShare Advisors LLC grew its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 10.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 41,946 shares of the construction company’s stock after acquiring an additional 3,918 shares during the period. ProShare Advisors LLC’s holdings in PulteGroup were worth $4,568,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Hager Investment Management Services LLC bought a new position in PulteGroup in the fourth quarter worth approximately $29,000. TD Waterhouse Canada Inc. increased its position in shares of PulteGroup by 43.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company’s stock valued at $38,000 after acquiring an additional 105 shares during the period. R Squared Ltd acquired a new stake in PulteGroup during the 4th quarter worth about $39,000. Quarry LP acquired a new stake in PulteGroup during the 4th quarter worth about $43,000. Finally, Oakworth Capital Inc. grew its position in PulteGroup by 642.2% during 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. Institutional investors own 89.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PHM shares. Barclays decreased their price target on shares of PulteGroup from $100.00 to $98.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 23rd. Bank of America cut their price target on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating for the company in a report on Monday, January 27th. Wells Fargo & Company cut their price target on shares of PulteGroup from $140.00 to $120.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Seaport Res Ptn upgraded shares of PulteGroup from a “strong sell” rating to a “hold” rating in a report on Thursday, March 6th. Finally, Royal Bank of Canada dropped their price target on shares of PulteGroup from $116.00 to $109.00 and set a “sector perform” rating for the company in a research note on Wednesday, April 23rd. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $134.69.

PulteGroup Price Performance

Shares of PHM opened at $102.93 on Tuesday. The firm has a fifty day moving average price of $100.85 and a 200 day moving average price of $110.81. PulteGroup, Inc. has a 1-year low of $88.07 and a 1-year high of $149.47. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market cap of $20.63 billion, a PE ratio of 7.00, a price-to-earnings-growth ratio of 0.29 and a beta of 1.37.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, April 22nd. The construction company reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.10. The firm had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.86 billion. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. During the same period in the prior year, the company posted $3.10 earnings per share. As a group, sell-side analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Tuesday, June 17th will be issued a $0.22 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $0.88 dividend on an annualized basis and a yield of 0.85%. PulteGroup’s dividend payout ratio (DPR) is presently 6.21%.

PulteGroup announced that its board has approved a stock repurchase plan on Thursday, January 30th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the construction company to purchase up to 6.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are 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.