TCW Group Inc. Makes New Investment in PulteGroup, Inc. (NYSE:PHM)

TCW Group Inc. acquired a new position in PulteGroup, Inc. (NYSE:PHM) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 10,825 shares of the construction company’s stock, valued at approximately $1,118,000.

Other hedge funds have also recently made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC bought a new stake in PulteGroup in the third quarter valued at $36,000. Rakuten Securities Inc. bought a new stake in shares of PulteGroup during the 4th quarter valued at about $37,000. Lindbrook Capital LLC increased its position in shares of PulteGroup by 335.6% during the fourth quarter. Lindbrook Capital LLC now owns 379 shares of the construction company’s stock valued at $39,000 after buying an additional 292 shares during the period. ORG Partners LLC raised its stake in PulteGroup by 3,463.6% in the fourth quarter. ORG Partners LLC now owns 392 shares of the construction company’s stock worth $40,000 after buying an additional 381 shares in the last quarter. Finally, AdvisorNet Financial Inc lifted its holdings in PulteGroup by 91.5% in the fourth quarter. AdvisorNet Financial Inc now owns 427 shares of the construction company’s stock worth $44,000 after buying an additional 204 shares during the period. 89.90% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Stock Up 1.4 %

NYSE PHM traded up $1.56 during mid-day trading on Friday, reaching $114.30. The stock had a trading volume of 812,989 shares, compared to its average volume of 1,596,844. The company has a fifty day moving average price of $114.27 and a 200 day moving average price of $105.45. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.85 and a quick ratio of 0.85. PulteGroup, Inc. has a 1 year low of $65.28 and a 1 year high of $122.72. The stock has a market cap of $24.04 billion, a PE ratio of 9.15, a price-to-earnings-growth ratio of 0.51 and a beta of 1.56.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, April 23rd. The construction company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.51. PulteGroup had a return on equity of 25.81% and a net margin of 16.63%. The firm had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.59 billion. On average, research analysts expect that PulteGroup, Inc. will post 12.64 earnings per share for the current year.

PulteGroup declared that its Board of Directors has authorized a share buyback plan on Tuesday, January 30th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to buy up to 6.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

PulteGroup Announces Dividend

The business also recently declared 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 0.70%. The ex-dividend date of this dividend is Tuesday, June 18th. PulteGroup’s payout ratio is presently 6.41%.

Analyst Upgrades and Downgrades

PHM has been the topic of a number of research analyst reports. Raymond James reiterated an “outperform” rating and set a $135.00 target price (up previously from $120.00) on shares of PulteGroup in a report on Thursday, April 25th. Barclays raised their price objective on PulteGroup from $126.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Zelman & Associates upgraded shares of PulteGroup from a “neutral” rating to an “outperform” rating in a report on Wednesday, April 24th. Royal Bank of Canada increased their price target on shares of PulteGroup from $106.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 24th. Finally, Wedbush reissued a “neutral” rating and set a $85.00 price objective on shares of PulteGroup in a research note on Wednesday, January 31st. Five 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 currently has a consensus rating of “Moderate Buy” and an average price target of $111.87.

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.