Greenhaven Associates Inc. Has $574.38 Million Stock Position in PulteGroup, Inc. (NYSE:PHM)

Greenhaven Associates Inc. boosted its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 0.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,587,328 shares of the construction company's stock after purchasing an additional 3,100 shares during the quarter. PulteGroup comprises 9.1% of Greenhaven Associates Inc.'s portfolio, making the stock its 5th largest position. Greenhaven Associates Inc. owned about 2.76% of PulteGroup worth $574,377,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Hager Investment Management Services LLC acquired a new position in shares of PulteGroup in the 4th quarter valued at about $29,000. Ameriflex Group Inc. purchased a new stake in PulteGroup during the fourth quarter worth approximately $37,000. TD Waterhouse Canada Inc. increased its position in shares of PulteGroup by 43.0% in the fourth quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company's stock worth $38,000 after acquiring an additional 105 shares in the last quarter. R Squared Ltd purchased a new position in shares of PulteGroup in the 4th quarter valued at $39,000. Finally, Quarry LP acquired a new position in shares of PulteGroup during the 4th quarter valued at $43,000. Institutional investors and hedge funds own 89.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PHM. Oppenheimer lowered their price objective on shares of PulteGroup from $165.00 to $150.00 and set an "outperform" rating for the company in a research report on Friday, January 31st. Barclays cut their price objective on shares of PulteGroup from $100.00 to $98.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 23rd. Royal Bank of Canada cut their price target on PulteGroup from $116.00 to $109.00 and set a "sector perform" rating on the stock in a research note on Wednesday, April 23rd. Wedbush reaffirmed an "outperform" rating and issued a $135.00 target price on shares of PulteGroup in a research report on Tuesday, April 22nd. Finally, Evercore ISI lifted their price target 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. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $134.69.

PulteGroup Price Performance

PHM traded down $0.45 during midday trading on Friday, reaching $98.09. 3,156,068 shares of the company's stock were exchanged, compared to its average volume of 2,020,209. PulteGroup, Inc. has a one year low of $88.07 and a one year high of $149.47. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. The business has a 50-day simple moving average of $99.92 and a two-hundred day simple moving average of $109.08. The firm has a market capitalization of $19.66 billion, a price-to-earnings ratio of 6.67, a price-to-earnings-growth ratio of 0.29 and a beta of 1.37.

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

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

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 17th will be given 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 yield of 0.90%. PulteGroup's dividend payout ratio (DPR) is 6.21%.

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.