Sumitomo Mitsui DS Asset Management Company Ltd Raises Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in PulteGroup, Inc. (NYSE:PHM) by 2.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,313 shares of the construction company’s stock after buying an additional 559 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in PulteGroup were worth $2,200,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PHM. Arlington Trust Co LLC purchased a new stake in PulteGroup in the 3rd quarter valued at about $33,000. Baystate Wealth Management LLC increased its stake in PulteGroup by 186.5% during the third quarter. Baystate Wealth Management LLC now owns 490 shares of the construction company’s stock worth $36,000 after purchasing an additional 319 shares during the period. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in PulteGroup during the third quarter worth about $36,000. Rakuten Securities Inc. purchased a new stake in PulteGroup during the fourth quarter worth about $37,000. Finally, Lindbrook Capital LLC increased its stake in PulteGroup by 335.6% during the fourth quarter. Lindbrook Capital LLC now owns 379 shares of the construction company’s stock worth $39,000 after purchasing an additional 292 shares during the period. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Brien P. O’meara sold 2,000 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $103.09, for a total value of $206,180.00. Following the completion of the sale, the vice president now directly owns 15,389 shares of the company’s stock, valued at $1,586,452.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.83% of the company’s stock.

PulteGroup Stock Performance

Shares of PHM opened at $112.26 on Thursday. The stock has a 50 day moving average price of $110.90 and a 200 day moving average price of $99.05. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $23.69 billion, a price-to-earnings ratio of 8.99, a price-to-earnings-growth ratio of 0.55 and a beta of 1.56. PulteGroup, Inc. has a 52-week low of $64.41 and a 52-week high of $121.07.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, January 30th. The construction company reported $3.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.21 by $0.07. The firm had revenue of $4.29 billion during the quarter, compared to the consensus estimate of $4.47 billion. PulteGroup had a return on equity of 25.81% and a net margin of 16.63%. The firm’s quarterly revenue was down 15.5% compared to the same quarter last year. During the same period in the prior year, the company posted $3.63 earnings per share. Research analysts predict that PulteGroup, Inc. will post 11.79 EPS for the current fiscal year.

PulteGroup announced that its board has authorized a stock buyback plan on Tuesday, January 30th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the construction company to purchase up to 6.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

PulteGroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Friday, March 15th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.71%. The ex-dividend date was Thursday, March 14th. PulteGroup’s payout ratio is currently 6.41%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PHM shares. Jefferies Financial Group boosted their price target on shares of PulteGroup from $126.00 to $131.00 and gave the stock a “buy” rating in a research note on Wednesday. The Goldman Sachs Group boosted their price target on shares of PulteGroup from $91.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, January 11th. Royal Bank of Canada boosted their price objective on PulteGroup from $106.00 to $113.00 and gave the stock a “sector perform” rating in a research report on Wednesday. Barclays boosted their price objective on PulteGroup from $126.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Finally, UBS Group downgraded PulteGroup from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $93.00 to $120.00 in a research report on Thursday, January 4th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, PulteGroup has a consensus rating of “Moderate Buy” and an average price target of $110.73.

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.