Meeder Asset Management Inc. Increases Stake in PulteGroup, Inc. (NYSE:PHM)

Meeder Asset Management Inc. raised its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 52.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,077 shares of the construction company’s stock after buying an additional 30,164 shares during the quarter. Meeder Asset Management Inc.’s holdings in PulteGroup were worth $10,624,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Putnam Investments LLC grew its holdings in PulteGroup by 1.8% during the 4th quarter. Putnam Investments LLC now owns 11,008,695 shares of the construction company’s stock valued at $1,136,318,000 after buying an additional 197,656 shares in the last quarter. Greenhaven Associates Inc. grew its holdings in PulteGroup by 0.4% during the 4th quarter. Greenhaven Associates Inc. now owns 5,726,368 shares of the construction company’s stock valued at $591,076,000 after buying an additional 24,350 shares in the last quarter. Norges Bank purchased a new stake in PulteGroup during the 4th quarter valued at approximately $381,960,000. Pacer Advisors Inc. grew its holdings in PulteGroup by 54.6% during the 4th quarter. Pacer Advisors Inc. now owns 3,003,713 shares of the construction company’s stock valued at $310,043,000 after buying an additional 1,060,466 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its holdings in PulteGroup by 38.3% during the 4th quarter. Allianz Asset Management GmbH now owns 1,892,229 shares of the construction company’s stock valued at $195,316,000 after buying an additional 523,623 shares in the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on PHM. Citigroup cut their price objective on shares of PulteGroup from $129.00 to $117.00 and set a “neutral” rating for the company in a report on Tuesday, July 2nd. Jefferies Financial Group raised their target price on shares of PulteGroup from $126.00 to $131.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Zelman & Associates raised shares of PulteGroup from a “neutral” rating to an “outperform” rating in a report on Wednesday, April 24th. Barclays cut their target price on shares of PulteGroup from $136.00 to $131.00 and set an “overweight” rating for the company in a report on Friday. Finally, Oppenheimer raised their target price on shares of PulteGroup from $138.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, PulteGroup currently has a consensus rating of “Moderate Buy” and an average price target of $117.00.

PulteGroup Trading Down 0.1 %

PHM traded down $0.09 during trading on Monday, reaching $116.24. The company had a trading volume of 2,146,184 shares, compared to its average volume of 1,786,512. The stock has a market cap of $24.45 billion, a P/E ratio of 9.31, a PEG ratio of 0.52 and a beta of 1.61. The business has a 50 day simple moving average of $113.01 and a 200-day simple moving average of $110.18. PulteGroup, Inc. has a 52 week low of $68.80 and a 52 week high of $122.72. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.18.

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

PulteGroup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 18th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, June 18th. This represents a $0.80 annualized dividend and a dividend yield of 0.69%. PulteGroup’s dividend payout ratio (DPR) is 6.41%.

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.