Coldstream Capital Management Inc. Increases Position in PulteGroup, Inc. (NYSE:PHM)

Coldstream Capital Management Inc. increased its holdings in PulteGroup, Inc. (NYSE:PHM) by 21.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,396 shares of the construction company’s stock after acquiring an additional 763 shares during the period. Coldstream Capital Management Inc.’s holdings in PulteGroup were worth $454,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. OVERSEA CHINESE BANKING Corp Ltd raised its stake in shares of PulteGroup by 56.7% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 4,456 shares of the construction company’s stock worth $330,000 after purchasing an additional 1,613 shares during the period. Corient Private Wealth LLC raised its position in PulteGroup by 0.3% in the third quarter. Corient Private Wealth LLC now owns 127,672 shares of the construction company’s stock worth $9,455,000 after acquiring an additional 377 shares during the period. Signaturefd LLC boosted its stake in PulteGroup by 3.7% in the third quarter. Signaturefd LLC now owns 5,570 shares of the construction company’s stock valued at $412,000 after acquiring an additional 200 shares during the last quarter. Syon Capital LLC bought a new position in shares of PulteGroup during the 3rd quarter valued at approximately $357,000. Finally, NBC Securities Inc. purchased a new stake in shares of PulteGroup during the 3rd quarter worth approximately $352,000. 89.90% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Stock Down 1.3 %

PHM stock opened at $112.74 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $23.71 billion, a PE ratio of 9.03, a PEG ratio of 0.51 and a beta of 1.56. PulteGroup, Inc. has a twelve month low of $65.28 and a twelve month high of $122.72. The stock has a 50-day simple moving average of $114.20 and a two-hundred day simple moving average of $105.06.

PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, April 23rd. The construction company reported $2.87 earnings per share for the quarter, beating 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 business had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.59 billion. On average, equities analysts predict that PulteGroup, Inc. will post 12.64 EPS for the current fiscal year.

PulteGroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 18th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend is Tuesday, June 18th. PulteGroup’s dividend payout ratio is currently 6.41%.

PulteGroup announced that its Board of Directors has authorized a stock buyback plan on Tuesday, January 30th that authorizes the company to repurchase $1.50 billion in 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 typically a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

PHM has been the topic of several research analyst reports. Raymond James reiterated an “outperform” rating and issued a $135.00 price objective (up previously from $120.00) on shares of PulteGroup in a research note on Thursday, April 25th. Royal Bank of Canada increased their price target on PulteGroup from $106.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 24th. Citigroup boosted their price objective on PulteGroup from $127.00 to $129.00 and gave the company a “neutral” rating in a research note on Friday, May 17th. Wedbush restated a “neutral” rating and issued a $85.00 price objective on shares of PulteGroup in a research note on Wednesday, January 31st. Finally, Oppenheimer boosted their price objective on PulteGroup from $138.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.