Baader Bank Aktiengesellschaft Reduces Holdings in PulteGroup, Inc. (NYSE:PHM)

Baader Bank Aktiengesellschaft lowered its position in PulteGroup, Inc. (NYSE:PHM) by 4.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 5,690 shares of the construction company’s stock after selling 235 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in PulteGroup were worth $620,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Public Sector Pension Investment Board lifted its stake in shares of PulteGroup by 61.3% during the 2nd quarter. Public Sector Pension Investment Board now owns 7,817 shares of the construction company’s stock valued at $861,000 after buying an additional 2,970 shares in the last quarter. Algert Global LLC bought a new stake in PulteGroup during the 2nd quarter valued at $334,000. NewEdge Advisors LLC lifted its position in shares of PulteGroup by 14.4% during the second quarter. NewEdge Advisors LLC now owns 33,622 shares of the construction company’s stock worth $3,702,000 after acquiring an additional 4,229 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of PulteGroup by 16.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,373 shares of the construction company’s stock worth $922,000 after acquiring an additional 1,203 shares during the period. Finally, Quarry LP purchased a new position in shares of PulteGroup in the second quarter valued at $68,000. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Price Performance

Shares of PulteGroup stock opened at $118.47 on Friday. The firm has a market capitalization of $24.30 billion, a PE ratio of 8.74, a price-to-earnings-growth ratio of 0.46 and a beta of 1.67. 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, Inc. has a 12 month low of $100.24 and a 12 month high of $149.47. The business’s 50-day moving average price is $118.23 and its 200-day moving average price is $127.48.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, topping the consensus estimate of $3.28 by $0.22. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. Sell-side analysts forecast that PulteGroup, Inc. will post 12.96 EPS for the current fiscal year.

PulteGroup announced that its board has authorized a share repurchase plan on Thursday, January 30th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the construction company to buy up to 6.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

PulteGroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.74%. This is a positive change from PulteGroup’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, December 17th. PulteGroup’s dividend payout ratio is presently 6.49%.

Analysts Set New Price Targets

PHM has been the topic of a number of recent research reports. BTIG Research increased their price objective on PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Bank of America lowered their price target on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a report on Monday. Oppenheimer reduced their price objective on shares of PulteGroup from $168.00 to $165.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Evercore ISI lowered their target price on shares of PulteGroup from $198.00 to $195.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Finally, Wedbush upgraded shares of PulteGroup from a “neutral” rating to an “outperform” rating and set a $135.00 price target for the company in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, PulteGroup presently has an average rating of “Moderate Buy” and an average price target of $142.29.

PulteGroup 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.