Mirae Asset Global Investments Co. Ltd. Buys 4,905 Shares of PulteGroup, Inc. $PHM

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 15.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 35,669 shares of the construction company’s stock after purchasing an additional 4,905 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in PulteGroup were worth $4,183,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Private Wealth Management Group LLC grew its stake in shares of PulteGroup by 281.7% during the third quarter. Private Wealth Management Group LLC now owns 271 shares of the construction company’s stock valued at $36,000 after buying an additional 200 shares during the last quarter. Beacon Financial Strategies CORP bought a new position in shares of PulteGroup during the fourth quarter valued at about $40,000. True Wealth Design LLC grew its stake in shares of PulteGroup by 229.6% during the third quarter. True Wealth Design LLC now owns 356 shares of the construction company’s stock valued at $47,000 after buying an additional 248 shares during the last quarter. Fulcrum Asset Management LLP bought a new position in shares of PulteGroup during the third quarter valued at about $47,000. Finally, SJS Investment Consulting Inc. grew its stake in shares of PulteGroup by 1,423.1% during the third quarter. SJS Investment Consulting Inc. now owns 396 shares of the construction company’s stock valued at $52,000 after buying an additional 370 shares during the last quarter. 89.90% of the stock is owned by institutional investors.

PulteGroup Stock Up 1.0%

NYSE PHM opened at $128.71 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $24.66 billion, a PE ratio of 11.57, a PEG ratio of 1.49 and a beta of 1.33. PulteGroup, Inc. has a 1 year low of $94.93 and a 1 year high of $144.49. The business’s 50-day moving average is $126.26 and its 200 day moving average is $124.69.

PulteGroup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Investors of record on Tuesday, March 17th were paid a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. PulteGroup’s dividend payout ratio (DPR) is presently 9.35%.

Insider Buying and Selling

In other PulteGroup news, EVP Kevin A. Henry sold 5,173 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $141.03, for a total value of $729,548.19. Following the completion of the sale, the executive vice president directly owned 14,673 shares in the company, valued at $2,069,333.19. This trade represents a 26.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Brien P. O’meara sold 4,000 shares of the firm’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $135.51, for a total transaction of $542,040.00. Following the completion of the sale, the vice president owned 8,601 shares of the company’s stock, valued at $1,165,521.51. This trade represents a 31.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 149,952 shares of company stock valued at $20,162,165 over the last ninety days. Corporate insiders own 0.75% of the company’s stock.

Analyst Ratings Changes

PHM has been the topic of a number of recent research reports. Raymond James Financial reaffirmed an “outperform” rating and set a $145.00 price objective on shares of PulteGroup in a research note on Wednesday, February 4th. Weiss Ratings raised PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. Citigroup raised their target price on PulteGroup from $128.00 to $136.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 3rd. UBS Group reissued a “buy” rating on shares of PulteGroup in a research note on Thursday, March 12th. Finally, Seaport Research Partners reissued a “sell” rating and issued a $100.00 target price (down from $155.00) on shares of PulteGroup in a research note on Tuesday, April 7th. Eleven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $138.79.

PulteGroup Company Profile

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.