Rakuten Investment Management Inc. Makes New Investment in PulteGroup, Inc. $PHM

Rakuten Investment Management Inc. bought a new stake in shares of PulteGroup, Inc. (NYSE:PHM) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 46,549 shares of the construction company’s stock, valued at approximately $6,151,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Railway Pension Investments Ltd grew its stake in PulteGroup by 2.4% in the second quarter. Railway Pension Investments Ltd now owns 137,739 shares of the construction company’s stock worth $14,526,000 after purchasing an additional 3,200 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of PulteGroup by 10.5% during the 3rd quarter. Nisa Investment Advisors LLC now owns 105,470 shares of the construction company’s stock valued at $13,959,000 after buying an additional 10,028 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of PulteGroup in the 2nd quarter worth about $2,162,000. Osaic Holdings Inc. increased its stake in shares of PulteGroup by 129.5% in the 2nd quarter. Osaic Holdings Inc. now owns 151,766 shares of the construction company’s stock worth $15,778,000 after acquiring an additional 85,637 shares in the last quarter. Finally, Generali Asset Management SPA SGR purchased a new position in PulteGroup during the 3rd quarter valued at about $2,280,000. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Price Performance

Shares of NYSE PHM opened at $127.69 on Friday. The firm has a market cap of $24.89 billion, a P/E ratio of 9.83, a PEG ratio of 1.06 and a beta of 1.33. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month high of $142.11. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average of $123.56 and a 200 day moving average of $124.11.

PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, October 21st. The construction company reported $2.96 EPS for the quarter, topping analysts’ consensus estimates of $2.86 by $0.10. PulteGroup had a return on equity of 19.58% and a net margin of 14.93%.The business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same quarter last year, the company earned $3.35 EPS. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. As a group, research analysts expect that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Tuesday, December 16th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. This is a boost from PulteGroup’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Tuesday, December 16th. PulteGroup’s payout ratio is 8.01%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PHM shares. The Goldman Sachs Group restated a “neutral” rating and issued a $144.00 price objective on shares of PulteGroup in a report on Tuesday, January 13th. BTIG Research initiated coverage on PulteGroup in a research note on Monday, December 1st. They issued a “neutral” rating on the stock. UBS Group lowered their price objective on PulteGroup from $160.00 to $159.00 and set a “buy” rating for the company in a research note on Tuesday, January 6th. Wall Street Zen raised PulteGroup from a “sell” rating to a “hold” rating in a report on Sunday, January 11th. Finally, Citizens Jmp began coverage on PulteGroup in a report on Wednesday, January 7th. They set a “market outperform” rating and a $145.00 price target for the company. Nine equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $138.85.

About PulteGroup

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.