784 Shares in PulteGroup, Inc. (NYSE:PHM) Acquired by Golden State Wealth Management LLC

Golden State Wealth Management LLC purchased a new position in shares of PulteGroup, Inc. (NYSE:PHM) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 784 shares of the construction company’s stock, valued at approximately $85,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fortitude Family Office LLC grew its stake in shares of PulteGroup by 115.1% during the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock valued at $27,000 after buying an additional 99 shares during the period. Transcendent Capital Group LLC purchased a new stake in PulteGroup during the third quarter valued at about $29,000. Hager Investment Management Services LLC purchased a new stake in PulteGroup during the fourth quarter valued at about $29,000. R Squared Ltd purchased a new position in shares of PulteGroup in the 4th quarter worth about $39,000. Finally, JNBA Financial Advisors acquired a new position in shares of PulteGroup in the 3rd quarter valued at about $43,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Stock Performance

PulteGroup stock opened at $105.85 on Monday. PulteGroup, Inc. has a 52 week low of $100.24 and a 52 week high of $149.47. The company has a current ratio of 0.86, a quick ratio of 0.73 and a debt-to-equity ratio of 0.13. The stock has a market cap of $21.71 billion, a P/E ratio of 7.20, a price-to-earnings-growth ratio of 0.29 and a beta of 1.68. The stock has a 50 day moving average of $115.02 and a 200-day moving average of $126.89.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, beating analysts’ consensus estimates of $3.28 by $0.22. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. On average, analysts expect that PulteGroup, Inc. will post 12.43 EPS for the current fiscal year.

PulteGroup announced that its Board of Directors has initiated a stock buyback plan on Thursday, January 30th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the construction company to buy up to 6.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

PulteGroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be paid a $0.22 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a yield of 0.83%. PulteGroup’s dividend payout ratio (DPR) is 5.98%.

Analyst Upgrades and Downgrades

PHM has been the subject of a number of research analyst reports. Wedbush reissued an “outperform” rating and set a $135.00 target price on shares of PulteGroup in a research report on Friday, January 31st. Bank of America cut their target price on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. Oppenheimer decreased their price target on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a research report on Friday, January 31st. Evercore ISI lowered their price target on PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. reduced their price objective on PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a research note on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.86.

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.