Mirae Asset Global Investments Co. Ltd. Has $3.88 Million Stock Position in PulteGroup, Inc. $PHM

Key Points

• Mirae Asset Global Investments increased its stake in PulteGroup, Inc. by 20.9% in Q2, acquiring an additional 6,354 shares, bringing its total holdings to 36,756 shares valued at approximately $3.88 million.
• Analysts are optimistic about PulteGroup, with the consensus rating being a "Moderate Buy" and an average price target of $137.31, following recent upgrades from several firms.
• PulteGroup recently announced a quarterly dividend of $0.22, which translates to an annualized dividend yield of 0.6% and reflects a dividend payout ratio of 6.58%.

Mirae Asset Global Investments Co. Ltd. lifted its holdings in PulteGroup, Inc. (NYSE:PHM - Free Report) by 20.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,756 shares of the construction company's stock after purchasing an additional 6,354 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in PulteGroup were worth $3,876,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Montgomery Investment Management Inc. bought a new position in PulteGroup during the second quarter valued at about $633,000. Institute for Wealth Management LLC. increased its holdings in shares of PulteGroup by 5.2% during the 2nd quarter. Institute for Wealth Management LLC. now owns 12,489 shares of the construction company's stock valued at $1,317,000 after acquiring an additional 619 shares during the last quarter. Cooper Financial Group raised its stake in shares of PulteGroup by 1.4% in the 2nd quarter. Cooper Financial Group now owns 6,697 shares of the construction company's stock valued at $706,000 after acquiring an additional 92 shares in the last quarter. Truist Financial Corp lifted its holdings in PulteGroup by 18.8% in the 2nd quarter. Truist Financial Corp now owns 76,519 shares of the construction company's stock worth $8,070,000 after purchasing an additional 12,099 shares during the last quarter. Finally, One Wealth Advisors LLC boosted its position in PulteGroup by 37.5% during the second quarter. One Wealth Advisors LLC now owns 4,700 shares of the construction company's stock worth $496,000 after purchasing an additional 1,281 shares during the period. 89.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on PHM. Raymond James Financial reissued an "outperform" rating and issued a $140.00 price target (up previously from $115.00) on shares of PulteGroup in a research report on Wednesday, July 23rd. Weiss Ratings reiterated a "hold (c+)" rating on shares of PulteGroup in a report on Saturday, September 27th. Wedbush reissued an "outperform" rating and set a $150.00 target price on shares of PulteGroup in a research report on Wednesday, August 13th. UBS Group raised their price target on PulteGroup from $141.00 to $150.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Finally, Citigroup lifted their price objective on PulteGroup from $132.00 to $143.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $137.31.

PulteGroup Stock Performance

NYSE PHM opened at $135.52 on Tuesday. 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 capitalization of $26.74 billion, a price-to-earnings ratio of 10.13, a P/E/G ratio of 0.40 and a beta of 1.29. The company's fifty day moving average is $129.76 and its two-hundred day moving average is $112.50. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.03 EPS 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 in the prior year, the business earned $3.83 earnings per share. The firm's revenue for the quarter was down 4.3% on a year-over-year basis. Equities research analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 16th were given a $0.22 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.6%. PulteGroup's dividend payout ratio (DPR) is currently 6.58%.

About PulteGroup

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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