Van ECK Associates Corp Boosts Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Van ECK Associates Corp lifted its stake in PulteGroup, Inc. (NYSE:PHM) by 2.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,433 shares of the construction company’s stock after purchasing an additional 1,122 shares during the period. Van ECK Associates Corp’s holdings in PulteGroup were worth $4,070,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rakuten Securities Inc. purchased a new position in shares of PulteGroup in the 4th quarter valued at about $37,000. Lindbrook Capital LLC raised its holdings in PulteGroup by 335.6% in the fourth quarter. Lindbrook Capital LLC now owns 379 shares of the construction company’s stock valued at $39,000 after acquiring an additional 292 shares in the last quarter. ORG Partners LLC lifted its stake in PulteGroup by 3,463.6% in the fourth quarter. ORG Partners LLC now owns 392 shares of the construction company’s stock worth $40,000 after acquiring an additional 381 shares during the last quarter. AdvisorNet Financial Inc grew its holdings in PulteGroup by 91.5% during the 4th quarter. AdvisorNet Financial Inc now owns 427 shares of the construction company’s stock worth $44,000 after acquiring an additional 204 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of PulteGroup in the 3rd quarter valued at approximately $36,000. 89.90% of the stock is owned by institutional investors and hedge funds.

PulteGroup Price Performance

Shares of NYSE PHM opened at $116.64 on Monday. The company’s fifty day moving average is $112.28 and its two-hundred day moving average is $101.21. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $24.53 billion, a P/E ratio of 9.34, a PEG ratio of 0.52 and a beta of 1.56. PulteGroup, Inc. has a one year low of $65.16 and a one year high of $121.07.

PulteGroup announced that its board has approved a share buyback program on Tuesday, January 30th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the construction company to purchase up to 6.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

PHM has been the subject of several recent analyst reports. Citigroup lifted their price objective on shares of PulteGroup from $116.00 to $127.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Oppenheimer upped their price objective on PulteGroup from $138.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Jefferies Financial Group raised their target price on PulteGroup from $126.00 to $131.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Barclays upped their price target on PulteGroup from $126.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Finally, The Goldman Sachs Group raised their price objective on shares of PulteGroup from $91.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, January 11th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $111.73.

Insiders Place Their Bets

In other news, VP Brien P. O’meara sold 2,000 shares of PulteGroup stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total transaction of $206,180.00. Following the completion of the sale, the vice president now directly owns 15,389 shares in the company, valued at approximately $1,586,452.01. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.75% of the stock is currently owned by company insiders.

PulteGroup 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.