5,000 Shares in PulteGroup, Inc. (NYSE:PHM) Acquired by Miura Global Management LLC

Miura Global Management LLC bought a new stake in shares of PulteGroup, Inc. (NYSE:PHM) during the 3rd quarter, HoldingsChannel reports. The firm bought 5,000 shares of the construction company’s stock, valued at approximately $718,000. PulteGroup accounts for about 0.8% of Miura Global Management LLC’s portfolio, making the stock its 21st biggest position.

Other institutional investors and hedge funds have also modified their holdings of the company. Cetera Advisors LLC increased its holdings in PulteGroup by 25.9% in the 1st quarter. Cetera Advisors LLC now owns 15,253 shares of the construction company’s stock worth $1,840,000 after buying an additional 3,136 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of PulteGroup by 37.5% during the second quarter. GAMMA Investing LLC now owns 1,590 shares of the construction company’s stock valued at $175,000 after purchasing an additional 434 shares during the last quarter. Mather Group LLC. lifted its position in PulteGroup by 13.7% during the second quarter. Mather Group LLC. now owns 1,542 shares of the construction company’s stock valued at $186,000 after purchasing an additional 186 shares during the period. Park Avenue Securities LLC boosted its holdings in PulteGroup by 7.8% in the second quarter. Park Avenue Securities LLC now owns 35,423 shares of the construction company’s stock worth $3,900,000 after purchasing an additional 2,576 shares during the last quarter. Finally, CX Institutional grew its position in PulteGroup by 127.0% in the 2nd quarter. CX Institutional now owns 3,603 shares of the construction company’s stock worth $397,000 after purchasing an additional 2,016 shares during the period. Institutional investors own 89.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PHM shares. Wedbush reissued a “neutral” rating and set a $115.00 price target on shares of PulteGroup in a report on Tuesday, October 22nd. UBS Group raised their target price on PulteGroup from $148.00 to $154.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company upped their price target on shares of PulteGroup from $150.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Oppenheimer dropped their price objective on shares of PulteGroup from $168.00 to $165.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Finally, BTIG Research increased their price target on shares of PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $145.00.

PulteGroup Price Performance

Shares of PulteGroup stock opened at $133.98 on Wednesday. The firm has a market cap of $27.48 billion, a PE ratio of 9.88, a PEG ratio of 0.55 and a beta of 1.62. PulteGroup, Inc. has a 12 month low of $89.81 and a 12 month high of $149.47. The stock has a 50 day moving average of $135.85 and a 200 day moving average of $126.77. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.14.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.25. The business had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.27 billion. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The business’s revenue was up 11.8% on a year-over-year basis. During the same period last year, the company posted $2.90 EPS. On average, research analysts expect that PulteGroup, Inc. will post 12.94 EPS for the current fiscal year.

PulteGroup Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th will be given a dividend of $0.22 per share. The ex-dividend date is Tuesday, December 17th. This represents a $0.88 annualized dividend and a dividend yield of 0.66%. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. PulteGroup’s payout ratio is currently 5.90%.

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.