TCW Group Inc. Makes New $1.12 Million Investment in PulteGroup, Inc. (NYSE:PHM)

TCW Group Inc. acquired a new position in PulteGroup, Inc. (NYSE:PHM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 10,825 shares of the construction company’s stock, valued at approximately $1,118,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PHM. First Horizon Advisors Inc. raised its position in PulteGroup by 2.9% during the fourth quarter. First Horizon Advisors Inc. now owns 3,594 shares of the construction company’s stock valued at $371,000 after acquiring an additional 100 shares in the last quarter. Aprio Wealth Management LLC grew its position in PulteGroup by 3.1% during the fourth quarter. Aprio Wealth Management LLC now owns 3,583 shares of the construction company’s stock valued at $370,000 after buying an additional 107 shares during the period. KMG Fiduciary Partners LLC increased its holdings in PulteGroup by 4.1% in the fourth quarter. KMG Fiduciary Partners LLC now owns 3,102 shares of the construction company’s stock valued at $320,000 after buying an additional 121 shares in the last quarter. DNB Asset Management AS raised its position in shares of PulteGroup by 0.3% in the fourth quarter. DNB Asset Management AS now owns 43,391 shares of the construction company’s stock worth $4,479,000 after acquiring an additional 123 shares during the period. Finally, Cascade Investment Advisors Inc. raised its position in shares of PulteGroup by 1.6% in the fourth quarter. Cascade Investment Advisors Inc. now owns 8,165 shares of the construction company’s stock worth $843,000 after acquiring an additional 125 shares during the period. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

PulteGroup Price Performance

Shares of PulteGroup stock traded up $1.56 on Friday, hitting $114.30. 812,989 shares of the company were exchanged, compared to its average volume of 1,596,844. PulteGroup, Inc. has a 1-year low of $65.28 and a 1-year 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. The stock has a market capitalization of $24.04 billion, a price-to-earnings ratio of 9.15, a price-to-earnings-growth ratio of 0.51 and a beta of 1.56. The company has a 50-day moving average price of $114.27 and a 200 day moving average price of $105.45.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, April 23rd. The construction company reported $2.87 earnings per share 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 for the quarter, compared to analyst estimates of $3.59 billion. As a group, sell-side analysts predict that PulteGroup, Inc. will post 12.64 earnings per share for the current fiscal year.

PulteGroup declared that its board has authorized a stock repurchase plan on Tuesday, January 30th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the construction company to purchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

PulteGroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Tuesday, June 18th will be issued a $0.20 dividend. 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 dividend payout ratio is currently 6.41%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PHM. StockNews.com upgraded PulteGroup from a “hold” rating to a “buy” rating in a research note on Wednesday, April 24th. Jefferies Financial Group increased their target price on PulteGroup from $126.00 to $131.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Citigroup boosted their price target on shares of PulteGroup from $127.00 to $129.00 and gave the stock a “neutral” rating in a report on Friday, May 17th. Raymond James reaffirmed an “outperform” rating and set a $135.00 price objective (up from $120.00) on shares of PulteGroup in a report on Thursday, April 25th. Finally, Zelman & Associates raised shares of PulteGroup from a “neutral” rating to an “outperform” rating in a research note on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, PulteGroup currently has a consensus rating of “Moderate Buy” and an average target price of $111.87.

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.