PulteGroup, Inc. (NYSE:PHM) Shares Acquired by Tidal Investments LLC

Tidal Investments LLC raised its position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 28.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 223,715 shares of the construction company's stock after buying an additional 49,988 shares during the period. Tidal Investments LLC owned about 0.11% of PulteGroup worth $24,363,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in PulteGroup during the 4th quarter worth about $427,562,000. Amundi increased its stake in PulteGroup by 77.9% during the fourth quarter. Amundi now owns 1,636,562 shares of the construction company's stock worth $180,775,000 after purchasing an additional 716,716 shares during the period. Franklin Resources Inc. lifted its position in shares of PulteGroup by 6.1% during the fourth quarter. Franklin Resources Inc. now owns 11,937,866 shares of the construction company's stock worth $1,300,034,000 after purchasing an additional 683,592 shares in the last quarter. Man Group plc boosted its stake in shares of PulteGroup by 136.8% in the fourth quarter. Man Group plc now owns 988,963 shares of the construction company's stock valued at $107,698,000 after purchasing an additional 571,251 shares during the period. Finally, Bridgewater Associates LP boosted its stake in shares of PulteGroup by 118.8% in the fourth quarter. Bridgewater Associates LP now owns 783,581 shares of the construction company's stock valued at $85,332,000 after purchasing an additional 425,492 shares during the period. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on PHM. Bank of America reduced their target price on shares of PulteGroup from $135.00 to $134.00 and set a "buy" rating on the stock in a report on Monday, January 27th. Evercore ISI increased their price objective on PulteGroup from $161.00 to $165.00 and gave the company an "outperform" rating in a research note on Wednesday, April 23rd. Wells Fargo & Company decreased their target price on PulteGroup from $140.00 to $120.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Oppenheimer cut their price target on PulteGroup from $165.00 to $150.00 and set an "outperform" rating on the stock in a report on Friday, January 31st. Finally, Royal Bank of Canada decreased their price objective on PulteGroup from $116.00 to $109.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 23rd. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $134.69.

PulteGroup Stock Down 1.8%

PulteGroup stock traded down $1.90 during mid-day trading on Tuesday, hitting $101.17. The company had a trading volume of 1,283,288 shares, compared to its average volume of 1,998,474. The stock has a market cap of $20.28 billion, a price-to-earnings ratio of 6.88, a PEG ratio of 0.29 and a beta of 1.37. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a 1 year low of $88.07 and a 1 year high of $149.47. The business has a fifty day moving average of $100.85 and a 200 day moving average of $110.74.

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, topping the consensus estimate of $2.47 by $0.10. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. The firm had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.86 billion. During the same period last year, the business earned $3.10 EPS. On average, sell-side analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Tuesday, June 17th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Tuesday, June 17th. PulteGroup's dividend payout ratio (DPR) is currently 6.21%.

PulteGroup announced that its Board of Directors has initiated a share repurchase plan on Thursday, January 30th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the construction company to repurchase up to 6.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership 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.