784 Shares in PulteGroup, Inc. (NYSE:PHM) Bought by Golden State Wealth Management LLC

Golden State Wealth Management LLC purchased a new position in shares of PulteGroup, Inc. (NYSE:PHM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 784 shares of the construction company’s stock, valued at approximately $85,000.

A number of other institutional investors have also modified their holdings of the stock. FMR LLC grew its holdings in PulteGroup by 102.3% during the third quarter. FMR LLC now owns 9,040,828 shares of the construction company’s stock worth $1,297,630,000 after acquiring an additional 4,571,757 shares during the period. Franklin Resources Inc. boosted its position in PulteGroup by 5.5% in the 3rd quarter. Franklin Resources Inc. now owns 11,254,274 shares of the construction company’s stock worth $1,647,364,000 after purchasing an additional 585,735 shares in the last quarter. Westfield Capital Management Co. LP acquired a new stake in shares of PulteGroup during the 3rd quarter worth approximately $66,485,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of PulteGroup by 357.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 521,958 shares of the construction company’s stock valued at $74,917,000 after purchasing an additional 407,764 shares in the last quarter. Finally, KBC Group NV lifted its stake in shares of PulteGroup by 1,020.0% in the 3rd quarter. KBC Group NV now owns 435,925 shares of the construction company’s stock valued at $62,568,000 after purchasing an additional 397,003 shares during the period. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PHM shares. Oppenheimer lowered their target price on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. Seaport Res Ptn downgraded PulteGroup from a “hold” rating to a “strong sell” rating in a research report on Monday, January 27th. StockNews.com cut PulteGroup from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Bank of America decreased their target price on PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. Finally, JPMorgan Chase & Co. cut their price target on shares of PulteGroup from $162.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, December 13th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $140.86.

PulteGroup Stock Performance

NYSE PHM opened at $105.85 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.73 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a 12-month low of $100.24 and a 12-month high of $149.47. The stock has a market capitalization of $21.71 billion, a price-to-earnings ratio of 7.20, a PEG ratio of 0.29 and a beta of 1.68. The business’s 50 day moving average is $115.02 and its two-hundred day moving average is $126.89.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, topping analysts’ consensus estimates of $3.28 by $0.22. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. Research analysts expect that PulteGroup, Inc. will post 12.43 EPS for the current year.

PulteGroup declared that its Board of Directors has authorized a stock buyback plan on Thursday, January 30th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to repurchase up to 6.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

PulteGroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be paid 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 payout ratio is 5.98%.

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.