Cresset Asset Management LLC Reduces Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Cresset Asset Management LLC decreased its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 83.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,237 shares of the construction company's stock after selling 26,076 shares during the period. Cresset Asset Management LLC's holdings in PulteGroup were worth $571,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Hager Investment Management Services LLC bought a new position in PulteGroup in the fourth quarter worth about $29,000. TD Waterhouse Canada Inc. grew its holdings in shares of PulteGroup by 43.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company's stock worth $38,000 after acquiring an additional 105 shares during the period. R Squared Ltd bought a new position in shares of PulteGroup in the 4th quarter worth approximately $39,000. Quarry LP purchased a new position in shares of PulteGroup in the 4th quarter valued at approximately $43,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of PulteGroup by 41.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 444 shares of the construction company's stock valued at $48,000 after purchasing an additional 131 shares during the period. Hedge funds and other institutional investors own 89.90% of the company's stock.

PulteGroup Stock Up 1.5%

Shares of PHM traded up $1.57 on Friday, hitting $104.34. 1,402,057 shares of the stock traded hands, compared to its average volume of 2,001,190. PulteGroup, Inc. has a one year low of $88.07 and a one year high of $149.47. The company has a market capitalization of $20.91 billion, a PE ratio of 7.09, a P/E/G ratio of 0.29 and a beta of 1.37. The business has a 50 day simple moving average of $100.86 and a 200 day simple moving average of $111.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The construction company reported $2.57 EPS for the quarter, topping the consensus estimate of $2.47 by $0.10. The company had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.86 billion. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. During the same period last year, the company earned $3.10 EPS. As a group, equities analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup announced that its Board of Directors has initiated 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 buy up to 6.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's management believes its stock is undervalued.

PulteGroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Tuesday, June 17th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.88 annualized dividend and a dividend yield of 0.84%. PulteGroup's payout ratio is 6.21%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PHM shares. Wells Fargo & Company decreased their price objective on PulteGroup from $140.00 to $120.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Seaport Res Ptn raised shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 6th. Wedbush reissued an "outperform" rating and set a $135.00 price target on shares of PulteGroup in a research report on Tuesday, April 22nd. Evercore ISI boosted their price objective on shares of PulteGroup from $161.00 to $165.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 23rd. Finally, Oppenheimer cut their price objective on shares of PulteGroup from $165.00 to $150.00 and set an "outperform" rating on the stock in a report on Friday, January 31st. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, PulteGroup has a consensus rating of "Moderate Buy" and a consensus target price of $134.69.

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.