UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Stock Position in PulteGroup, Inc. (NYSE:PHM)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in PulteGroup, Inc. (NYSE:PHM - Free Report) by 9.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,033,776 shares of the construction company's stock after purchasing an additional 169,736 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.99% of PulteGroup worth $221,478,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Richardson Financial Services Inc. lifted its position in PulteGroup by 16.7% in the fourth quarter. Richardson Financial Services Inc. now owns 622 shares of the construction company's stock valued at $68,000 after buying an additional 89 shares during the last quarter. Meridian Wealth Management LLC raised its stake in shares of PulteGroup by 0.7% in the 4th quarter. Meridian Wealth Management LLC now owns 13,224 shares of the construction company's stock valued at $1,440,000 after acquiring an additional 95 shares during the period. Fidelis Capital Partners LLC lifted its holdings in shares of PulteGroup by 2.4% in the 4th quarter. Fidelis Capital Partners LLC now owns 4,384 shares of the construction company's stock worth $479,000 after acquiring an additional 103 shares during the last quarter. TD Waterhouse Canada Inc. lifted its holdings in shares of PulteGroup by 43.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company's stock worth $38,000 after acquiring an additional 105 shares during the last quarter. Finally, 1858 Wealth Management LLC boosted its position in shares of PulteGroup by 5.0% during the 4th quarter. 1858 Wealth Management LLC now owns 2,349 shares of the construction company's stock worth $256,000 after purchasing an additional 112 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 brokerages have issued reports on PHM. Oppenheimer cut their target price on PulteGroup from $165.00 to $150.00 and set an "outperform" rating on the stock in a research report on Friday, January 31st. UBS Group dropped their price objective on PulteGroup from $151.00 to $141.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Bank of America cut their price objective on PulteGroup from $135.00 to $134.00 and set a "buy" rating on the stock in a report on Monday, January 27th. Wells Fargo & Company lowered 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. Finally, Wedbush reaffirmed an "outperform" rating and issued a $135.00 target price on shares of PulteGroup in a research report on Tuesday, April 22nd. Seven equities research 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 stock currently has a consensus rating of "Moderate Buy" and an average target price of $134.69.

PulteGroup Stock Up 2.2%

NYSE:PHM traded up $2.19 during mid-day trading on Tuesday, hitting $100.40. The stock had a trading volume of 1,069,818 shares, compared to its average volume of 2,007,750. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month high of $149.47. The company has a market capitalization of $20.12 billion, a PE ratio of 6.82, a PEG ratio of 0.29 and a beta of 1.37. The stock has a 50-day simple moving average of $100.41 and a two-hundred day simple moving average of $109.68.

PulteGroup (NYSE:PHM - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The construction company reported $2.57 earnings per share 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 during the quarter, compared to analysts' expectations of $3.86 billion. During the same quarter in the previous year, the business earned $3.10 earnings per share. On average, equities research analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Dividend Announcement

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

PulteGroup declared that its Board of Directors has authorized 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 reacquire up to 6.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its stock is 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.