Mirae Asset Global Investments Co. Ltd. Sells 3,980 Shares of PulteGroup, Inc. (NYSE:PHM)

Mirae Asset Global Investments Co. Ltd. reduced its stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 11.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,402 shares of the construction company's stock after selling 3,980 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in PulteGroup were worth $3,093,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PHM. Proficio Capital Partners LLC acquired a new stake in shares of PulteGroup in the fourth quarter worth $73,000. SVB Wealth LLC bought a new position in PulteGroup in the 4th quarter worth $329,000. US Bancorp DE lifted its position in PulteGroup by 63.4% during the 4th quarter. US Bancorp DE now owns 24,092 shares of the construction company's stock worth $2,624,000 after acquiring an additional 9,346 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in PulteGroup by 39.3% during the 4th quarter. Jones Financial Companies Lllp now owns 5,924 shares of the construction company's stock valued at $645,000 after purchasing an additional 1,672 shares during the period. Finally, Fidelis Capital Partners LLC lifted its holdings in shares of PulteGroup by 2.4% during the fourth quarter. Fidelis Capital Partners LLC now owns 4,384 shares of the construction company's stock worth $479,000 after buying an additional 103 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PHM. Royal Bank Of Canada lowered their price objective on shares of PulteGroup from $116.00 to $109.00 and set a "sector perform" rating on the stock in a research note on Wednesday, April 23rd. Evercore ISI increased their price target on shares of PulteGroup from $161.00 to $165.00 and gave the company an "outperform" rating in a report on Wednesday, April 23rd. Wedbush restated an "outperform" rating and issued a $135.00 price target on shares of PulteGroup in a research report on Tuesday, April 22nd. Wells Fargo & Company dropped their price objective on shares of PulteGroup from $140.00 to $120.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Finally, Barclays reduced their target price on shares of PulteGroup from $100.00 to $98.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 23rd. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $134.69.

PulteGroup Price Performance

Shares of PHM stock traded down $2.07 during trading hours on Friday, hitting $109.27. The company had a trading volume of 1,616,063 shares, compared to its average volume of 2,027,601. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $149.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 0.80. The firm's fifty day moving average is $102.52 and its 200 day moving average is $104.77. The firm has a market capitalization of $21.90 billion, a price-to-earnings ratio of 7.71, a PEG ratio of 0.32 and a beta of 1.29.

PulteGroup (NYSE:PHM - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The construction company reported $2.57 EPS for the quarter, beating the consensus estimate of $2.47 by $0.10. PulteGroup had a return on equity of 22.86% and a net margin of 16.45%. The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.86 billion. During the same quarter in the previous year, the firm earned $3.10 EPS. On average, sell-side analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Tuesday, June 17th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.81%. The ex-dividend date was Tuesday, June 17th. PulteGroup's payout ratio is 6.21%.

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.