Hager Investment Management Services LLC Makes New Investment in PulteGroup, Inc. (NYSE:PHM)

Hager Investment Management Services LLC bought a new stake in shares of PulteGroup, Inc. (NYSE:PHM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 265 shares of the construction company’s stock, valued at approximately $29,000.

Several other large investors have also recently made changes to their positions in the company. Fortitude Family Office LLC grew its holdings in PulteGroup by 115.1% in the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock valued at $27,000 after purchasing an additional 99 shares during the period. Transcendent Capital Group LLC purchased a new stake in shares of PulteGroup during the third quarter worth about $29,000. R Squared Ltd acquired a new position in shares of PulteGroup during the 4th quarter worth about $39,000. JNBA Financial Advisors purchased a new position in PulteGroup in the 3rd quarter valued at about $43,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in PulteGroup by 1,059.3% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 313 shares of the construction company’s stock worth $45,000 after buying an additional 286 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Trading Up 0.9 %

PHM opened at $111.33 on Thursday. The stock has a market capitalization of $22.83 billion, a PE ratio of 7.57, a P/E/G ratio of 0.49 and a beta of 1.68. PulteGroup, Inc. has a one year low of $100.24 and a one year high of $149.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.73 and a current ratio of 0.86. The business’s 50 day moving average price is $116.64 and its 200 day moving average price is $127.25.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, beating the consensus estimate of $3.28 by $0.22. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. As a group, equities research analysts expect that PulteGroup, Inc. will post 13.34 EPS for the current year.

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.79%. PulteGroup’s dividend payout ratio is presently 5.98%.

PulteGroup declared that its Board of Directors has approved a stock repurchase program on Thursday, January 30th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 6.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

PHM has been the topic of several research reports. BTIG Research raised their target price on PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Barclays decreased their price objective on PulteGroup from $125.00 to $117.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Citigroup dropped their target price on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Seaport Res Ptn cut shares of PulteGroup from a “hold” rating to a “strong sell” rating in a research report on Monday, January 27th. Finally, Bank of America lowered their price target on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, PulteGroup presently has a consensus rating of “Moderate Buy” and an average target price of $140.86.

About PulteGroup

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.