Allianz Asset Management GmbH acquired a new stake in PulteGroup, Inc. (NYSE:PHM) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 280,091 shares of the construction company’s stock, valued at approximately $9,314,000. Allianz Asset Management GmbH owned 0.10% of PulteGroup at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the stock. Mackenzie Financial Corp purchased a new stake in shares of PulteGroup in the 4th quarter valued at $12,685,000. Ascend Capital LLC purchased a new stake in shares of PulteGroup in the 4th quarter valued at $491,000. Commerce Bank raised its holdings in shares of PulteGroup by 109.5% in the 4th quarter. Commerce Bank now owns 18,241 shares of the construction company’s stock valued at $606,000 after buying an additional 9,536 shares during the period. Bank of Hawaii purchased a new stake in shares of PulteGroup in the 4th quarter valued at $384,000. Finally, Eaton Vance Management raised its holdings in shares of PulteGroup by 25.4% in the 4th quarter. Eaton Vance Management now owns 145,885 shares of the construction company’s stock valued at $4,851,000 after buying an additional 29,551 shares during the period. Hedge funds and other institutional investors own 85.54% of the company’s stock.
Several research firms recently issued reports on PHM. Credit Suisse Group reiterated an “outperform” rating and issued a $38.00 price objective (up previously from $32.00) on shares of PulteGroup in a report on Monday, January 22nd. They noted that the move was a valuation call. Mizuho upgraded PulteGroup from a “neutral” rating to a “buy” rating in a report on Thursday, January 18th. Zacks Investment Research upgraded PulteGroup from a “sell” rating to a “hold” rating and set a $40.00 price objective on the stock in a report on Thursday, January 4th. UBS Group boosted their price objective on PulteGroup from $38.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Finally, Wedbush boosted their target price on PulteGroup from $27.00 to $35.00 and gave the stock a “neutral” rating in a research note on Friday, December 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $32.85.
PulteGroup, Inc. (NYSE PHM) opened at $30.18 on Tuesday. PulteGroup, Inc. has a one year low of $21.41 and a one year high of $35.21. The company has a market capitalization of $8,650.00, a price-to-earnings ratio of 14.65, a P/E/G ratio of 0.47 and a beta of 1.11.
PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, January 30th. The construction company reported $0.85 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.85. PulteGroup had a return on equity of 15.52% and a net margin of 5.22%. The firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same period in the previous year, the firm posted $0.67 EPS. PulteGroup’s revenue for the quarter was up 12.1% on a year-over-year basis. research analysts anticipate that PulteGroup, Inc. will post 3.11 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Friday, March 16th will be given a dividend of $0.09 per share. The ex-dividend date is Thursday, March 15th. This represents a $0.36 annualized dividend and a dividend yield of 1.19%. PulteGroup’s dividend payout ratio is currently 17.48%.
PulteGroup declared that its board has initiated a stock buyback program on Tuesday, January 30th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the construction company to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.
PulteGroup, Inc is a homebuilder in the United States. The Company’s segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land.
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