State of Wyoming Boosts Holdings in PulteGroup, Inc. (NYSE:PHM)

State of Wyoming lifted its position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 739.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,341 shares of the construction company's stock after purchasing an additional 3,824 shares during the period. State of Wyoming's holdings in PulteGroup were worth $473,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Merit Financial Group LLC lifted its holdings in PulteGroup by 416.0% in the 4th quarter. Merit Financial Group LLC now owns 12,775 shares of the construction company's stock worth $1,391,000 after buying an additional 10,299 shares in the last quarter. Premier Path Wealth Partners LLC lifted its stake in shares of PulteGroup by 3.8% in the fourth quarter. Premier Path Wealth Partners LLC now owns 2,572 shares of the construction company's stock worth $280,000 after acquiring an additional 95 shares in the last quarter. Aaron Wealth Advisors LLC lifted its stake in shares of PulteGroup by 7.2% in the fourth quarter. Aaron Wealth Advisors LLC now owns 2,151 shares of the construction company's stock worth $234,000 after acquiring an additional 145 shares in the last quarter. M.E. Allison & CO. Inc. purchased a new position in PulteGroup in the fourth quarter valued at about $444,000. Finally, Aspire Private Capital LLC grew its stake in PulteGroup by 7.8% during the 4th quarter. Aspire Private Capital LLC now owns 10,142 shares of the construction company's stock valued at $1,104,000 after purchasing an additional 734 shares in the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PHM has been the topic of a number of recent analyst reports. Wedbush reaffirmed an "outperform" rating and issued a $135.00 target price on shares of PulteGroup in a research report on Tuesday, April 22nd. UBS Group cut their price target on shares of PulteGroup from $151.00 to $141.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Royal Bank of Canada reduced 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. Seaport Res Ptn raised shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 6th. Finally, Evercore ISI increased their price target on shares of PulteGroup from $161.00 to $165.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 23rd. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $134.69.

PulteGroup Trading Down 1.4%

NYSE:PHM opened at $102.93 on Tuesday. The firm has a market capitalization of $20.63 billion, a P/E ratio of 7.00, a P/E/G ratio of 0.29 and a beta of 1.37. The business has a 50 day simple moving average of $100.85 and a 200 day simple moving average of $110.81. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-month high of $149.47.

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

PulteGroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 17th will be given a $0.22 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $0.88 annualized dividend and a yield of 0.85%. PulteGroup's dividend payout ratio is presently 6.21%.

PulteGroup declared that its board has approved a stock repurchase program on Thursday, January 30th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the construction company to reacquire up to 6.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its shares are undervalued.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.