AXS Investments LLC Has $1.46 Million Position in PulteGroup, Inc. (NYSE:PHM)

AXS Investments LLC reduced its holdings in PulteGroup, Inc. (NYSE:PHM) by 6.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,128 shares of the construction company’s stock after selling 1,055 shares during the quarter. AXS Investments LLC’s holdings in PulteGroup were worth $1,458,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Certuity LLC bought a new position in PulteGroup during the fourth quarter worth about $245,000. Nordea Investment Management AB lifted its stake in PulteGroup by 4.0% during the fourth quarter. Nordea Investment Management AB now owns 753,768 shares of the construction company’s stock worth $78,030,000 after purchasing an additional 28,833 shares during the period. Illinois Municipal Retirement Fund raised its stake in shares of PulteGroup by 24.9% in the third quarter. Illinois Municipal Retirement Fund now owns 26,341 shares of the construction company’s stock valued at $1,951,000 after acquiring an additional 5,257 shares during the last quarter. Truist Financial Corp raised its stake in shares of PulteGroup by 248.6% in the fourth quarter. Truist Financial Corp now owns 191,219 shares of the construction company’s stock valued at $19,738,000 after acquiring an additional 136,370 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of PulteGroup by 65.0% in the third quarter. American Century Companies Inc. now owns 224,978 shares of the construction company’s stock valued at $16,660,000 after acquiring an additional 88,638 shares during the last quarter. 89.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PHM. Raymond James reiterated an “outperform” rating and issued a $135.00 target price (up previously from $120.00) on shares of PulteGroup in a research note on Thursday, April 25th. Jefferies Financial Group raised their price target on shares of PulteGroup from $126.00 to $131.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Oppenheimer raised their price target on shares of PulteGroup from $138.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Wedbush reissued a “neutral” rating and issued a $85.00 price target on shares of PulteGroup in a report on Wednesday, January 31st. Finally, Citigroup raised their price target on shares of PulteGroup from $127.00 to $129.00 and gave the company a “neutral” rating in a report on Friday, May 17th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $111.87.

PulteGroup Stock Down 1.3 %

PHM traded down $1.46 during trading on Thursday, hitting $112.74. The company had a trading volume of 1,378,134 shares, compared to its average volume of 1,778,681. The company has a market capitalization of $23.71 billion, a PE ratio of 9.05, a PEG ratio of 0.53 and a beta of 1.56. PulteGroup, Inc. has a one year low of $65.28 and a one year high of $122.72. The firm’s 50-day moving average price is $114.14 and its 200 day moving average price is $105.01. 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 EPS for the quarter, topping the consensus estimate of $2.36 by $0.51. PulteGroup had a net margin of 16.63% and a return on equity of 25.81%. The firm had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.59 billion. As a group, equities analysts expect that PulteGroup, Inc. will post 12.64 earnings per share for the current year.

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

PulteGroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 18th will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, June 18th. This represents a $0.80 annualized dividend and a dividend yield of 0.71%. PulteGroup’s dividend payout ratio is presently 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.