Mirae Asset Global Investments Co. Ltd. Purchases 52,491 Shares of PulteGroup, Inc. $PHM

Mirae Asset Global Investments Co. Ltd. acquired a new stake in PulteGroup, Inc. (NYSE:PHM) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 52,491 shares of the construction company’s stock, valued at approximately $6,092,000.

Other hedge funds have also added to or reduced their stakes in the company. Cedar Mountain Advisors LLC lifted its holdings in PulteGroup by 1,650.0% during the first quarter. Cedar Mountain Advisors LLC now owns 210 shares of the construction company’s stock worth $25,000 after acquiring an additional 198 shares in the last quarter. Lynch Investment Planning LLC acquired a new position in PulteGroup in the third quarter valued at about $26,000. NFSG Corp acquired a new position in PulteGroup in the first quarter valued at about $29,000. Evelyn Partners Investment Management Services Ltd bought a new stake in shares of PulteGroup in the first quarter worth about $37,000. Finally, Mcdonald Partners LLC bought a new stake in shares of PulteGroup in the second quarter worth about $43,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

Analyst Ratings Changes

PHM has been the topic of a number of research analyst reports. Truist Financial dropped their price target on PulteGroup from $145.00 to $136.00 and set a “buy” rating on the stock in a research report on Wednesday, September 16th. Weiss Ratings lowered shares of PulteGroup from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday, October 30th. Melius Research started coverage on shares of PulteGroup in a research report on Tuesday, October 6th. They issued a “hold” rating and a $132.00 price objective on the stock. Wells Fargo & Company reduced their target price on shares of PulteGroup from $150.00 to $145.00 and set an “overweight” rating for the company in a research note on Friday, September 11th. Finally, Royal Bank Of Canada reduced their target price on shares of PulteGroup from $111.00 to $110.00 and set a “sector perform” rating for the company in a research note on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $136.76.

PulteGroup Stock Down 0.6%

Shares of PulteGroup stock opened at $135.13 on Friday. The firm has a market cap of $24.88 billion, a PE ratio of 14.05, a P/E/G ratio of 2.28 and a beta of 1.17. The business’s 50 day simple moving average is $119.48 and its 200 day simple moving average is $124.19. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.71 and a current ratio of 0.71. PulteGroup, Inc. has a 52-week low of $107.15 and a 52-week high of $144.49.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Thursday, October 22nd. The construction company reported $2.53 earnings per share for the quarter, missing analysts’ consensus estimates of $2.63 by ($0.10). PulteGroup had a return on equity of 14.29% and a net margin of 11.24%. The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same period last year, the company earned $2.96 EPS. The company’s revenue was down 9.8% compared to the same quarter last year. On average, analysts predict that PulteGroup, Inc. will post 9.37 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Tuesday, September 15th were issued a $0.26 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. PulteGroup’s dividend payout ratio (DPR) is 11.11%.

About PulteGroup

PulteGroup, Inc is a major U.S. homebuilding company that designs, builds and sells homes for a range of buyers, including first-time, move-up and active-adult customers. Its operations include land acquisition and development, home construction, sales and marketing, and customer service.

The company markets homes under several well-known brands, including Pulte, Centex, Del Webb, DiVosta and American West. Through these brands, PulteGroup offers a variety of single-family home designs and communities, with products tailored to different price points, lifestyles and stages of homeownership.