Mizuho Securities USA LLC Acquires 5,980 Shares of PulteGroup, Inc. (NYSE:PHM)

Mizuho Securities USA LLC increased its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 44.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,437 shares of the construction company’s stock after purchasing an additional 5,980 shares during the quarter. Mizuho Securities USA LLC’s holdings in PulteGroup were worth $2,117,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Richardson Financial Services Inc. lifted its holdings in shares of PulteGroup by 16.7% in the fourth quarter. Richardson Financial Services Inc. now owns 622 shares of the construction company’s stock valued at $68,000 after purchasing an additional 89 shares in the last quarter. Premier Path Wealth Partners LLC increased its stake in PulteGroup by 3.8% in the 4th quarter. Premier Path Wealth Partners LLC now owns 2,572 shares of the construction company’s stock valued at $280,000 after buying an additional 95 shares during the last quarter. Meridian Wealth Management LLC lifted its position in PulteGroup by 0.7% during the 4th quarter. Meridian Wealth Management LLC now owns 13,224 shares of the construction company’s stock worth $1,440,000 after buying an additional 95 shares in the last quarter. Fidelis Capital Partners LLC boosted its stake in shares of PulteGroup by 2.4% during the 4th quarter. Fidelis Capital Partners LLC now owns 4,384 shares of the construction company’s stock worth $479,000 after buying an additional 103 shares during the last quarter. Finally, Wedmont Private Capital increased its position in shares of PulteGroup by 3.7% in the fourth quarter. Wedmont Private Capital now owns 3,050 shares of the construction company’s stock valued at $328,000 after acquiring an additional 110 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other PulteGroup news, Director Brian P. Anderson sold 2,500 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $106.45, for a total transaction of $266,125.00. Following the completion of the transaction, the director now owns 56,617 shares of the company’s stock, valued at approximately $6,026,879.65. This trade represents a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Todd N. Sheldon sold 15,191 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $106.50, for a total transaction of $1,617,841.50. Following the sale, the executive vice president now directly owns 74,758 shares in the company, valued at $7,961,727. The trade was a 16.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,191 shares of company stock valued at $2,256,367 in the last ninety days. Company insiders own 0.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. decreased their price target on PulteGroup from $162.00 to $155.00 and set an “overweight” rating for the company in a research note on Friday, December 13th. Citigroup lowered their target price on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Bank of America dropped their price target on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. StockNews.com downgraded shares of PulteGroup from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Finally, The Goldman Sachs Group dropped their target price on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $140.86.

PulteGroup Trading Up 3.1 %

Shares of PulteGroup stock opened at $105.90 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market capitalization of $21.44 billion, a P/E ratio of 7.20, a P/E/G ratio of 0.29 and a beta of 1.71. PulteGroup, Inc. has a 52-week low of $100.35 and a 52-week high of $149.47. The stock’s 50-day simple moving average is $108.48 and its 200 day simple moving average is $122.01.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, beating analysts’ consensus estimates of $3.28 by $0.22. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. As a group, research analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup announced that its board has approved a stock buyback program on Thursday, January 30th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 6.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

PulteGroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Tuesday, March 18th. PulteGroup’s dividend payout ratio is currently 5.98%.

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.