2,690 Shares in PulteGroup, Inc. (NYSE:PHM) Acquired by Meridian Wealth Management LLC

Meridian Wealth Management LLC bought a new stake in shares of PulteGroup, Inc. (NYSE:PHMFree Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,690 shares of the construction company’s stock, valued at approximately $278,000.

A number of other institutional investors also recently added to or reduced their stakes in PHM. First Horizon Advisors Inc. lifted its holdings in PulteGroup by 2.9% in the fourth quarter. First Horizon Advisors Inc. now owns 3,594 shares of the construction company’s stock worth $371,000 after purchasing an additional 100 shares during the period. Aprio Wealth Management LLC raised its holdings in PulteGroup by 3.1% during the fourth quarter. Aprio Wealth Management LLC now owns 3,583 shares of the construction company’s stock worth $370,000 after purchasing an additional 107 shares in the last quarter. KMG Fiduciary Partners LLC boosted its stake in PulteGroup by 4.1% during the 4th quarter. KMG Fiduciary Partners LLC now owns 3,102 shares of the construction company’s stock valued at $320,000 after purchasing an additional 121 shares in the last quarter. DNB Asset Management AS boosted its stake in PulteGroup by 0.3% during the fourth quarter. DNB Asset Management AS now owns 43,391 shares of the construction company’s stock valued at $4,479,000 after buying an additional 123 shares in the last quarter. Finally, Cascade Investment Advisors Inc. lifted its holdings in PulteGroup by 1.6% in the 4th quarter. Cascade Investment Advisors Inc. now owns 8,165 shares of the construction company’s stock valued at $843,000 after acquiring an additional 125 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Price Performance

Shares of PHM opened at $119.07 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market cap of $25.05 billion, a PE ratio of 9.53, a PEG ratio of 0.53 and a beta of 1.56. The firm’s 50 day moving average price is $113.86 and its 200 day moving average price is $104.43. PulteGroup, Inc. has a twelve month low of $65.16 and a twelve month high of $122.72.

PulteGroup (NYSE:PHMGet Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The construction company reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.51. The business had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.59 billion. PulteGroup had a net margin of 16.63% and a return on equity of 25.81%. As a group, research analysts expect that PulteGroup, Inc. will post 12.64 EPS for the current fiscal year.

PulteGroup announced that its board has initiated a stock buyback program on Tuesday, January 30th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the construction company to repurchase up to 6.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 18th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend is Friday, June 14th. PulteGroup’s dividend payout ratio is 6.41%.

Analyst Upgrades and Downgrades

PHM has been the subject of several recent research reports. Wedbush reissued a “neutral” rating and set a $85.00 target price on shares of PulteGroup in a research note on Wednesday, January 31st. Royal Bank of Canada raised their price objective on PulteGroup from $106.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 24th. Zelman & Associates raised PulteGroup from a “neutral” rating to an “outperform” rating in a research report on Wednesday, April 24th. Barclays lifted their price target on PulteGroup from $126.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Finally, Oppenheimer upped their price objective on shares of PulteGroup from $138.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $111.87.

Check Out Our Latest Research Report on PulteGroup

About PulteGroup

(Free Report)

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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Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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