MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $5.36 Million Stock Holdings in PulteGroup, Inc. $PHM

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in PulteGroup, Inc. by 11.7% during the first quarter, totaling $5.36 million in stock investments, after purchasing an additional 5,471 shares.
• PulteGroup reported earnings of $3.03 per share, surpassing analysts' expectations of $2.92, although its revenue of $4.40 billion for the quarter was a 4.3% decrease from the previous year.
• The company declared a quarterly dividend of $0.22 per share, scheduled for payment on October 2nd, with a 0.6% dividend yield and a payout ratio of 6.58%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in PulteGroup, Inc. (NYSE:PHM - Free Report) by 11.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,149 shares of the construction company's stock after purchasing an additional 5,471 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in PulteGroup were worth $5,361,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. WPG Advisers LLC acquired a new position in PulteGroup in the first quarter worth about $25,000. Ameriflex Group Inc. acquired a new position in PulteGroup in the fourth quarter worth about $37,000. American National Bank & Trust acquired a new stake in shares of PulteGroup during the first quarter worth approximately $39,000. Catalyst Capital Advisors LLC acquired a new stake in shares of PulteGroup during the first quarter worth approximately $54,000. Finally, Quarry LP increased its holdings in shares of PulteGroup by 43.8% during the first quarter. Quarry LP now owns 571 shares of the construction company's stock worth $59,000 after buying an additional 174 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company's stock.

PulteGroup Stock Performance

Shares of PulteGroup stock opened at $138.74 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.77 and a quick ratio of 0.77. The firm has a market cap of $27.37 billion, a P/E ratio of 10.37, a P/E/G ratio of 0.40 and a beta of 1.27. The firm has a 50 day simple moving average of $122.81 and a 200 day simple moving average of $109.04. PulteGroup, Inc. has a fifty-two week low of $88.07 and a fifty-two week high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The construction company reported $3.03 earnings per share for the quarter, beating analysts' consensus estimates of $2.92 by $0.11. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. The business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.42 billion. During the same quarter last year, the business posted $3.83 earnings per share. PulteGroup's revenue for the quarter was down 4.3% compared to the same quarter last year. Sell-side analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 16th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 16th. PulteGroup's payout ratio is currently 6.58%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PHM shares. UBS Group raised their price objective on shares of PulteGroup from $141.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Citigroup raised their price objective on shares of PulteGroup from $128.00 to $132.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada raised their price objective on shares of PulteGroup from $109.00 to $112.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 23rd. Wells Fargo & Company lifted their price target on PulteGroup from $135.00 to $150.00 and gave the company an "overweight" rating in a report on Tuesday, September 2nd. Finally, JPMorgan Chase & Co. lifted their price target on PulteGroup from $121.00 to $123.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $136.46.

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.

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