Pacer Advisors Inc. Has $4.73 Million Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Pacer Advisors Inc. lifted its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 31.5% during the 4th quarter, Holdings Channel reports. The firm owned 43,431 shares of the construction company’s stock after purchasing an additional 10,416 shares during the quarter. Pacer Advisors Inc.’s holdings in PulteGroup were worth $4,730,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Fortitude Family Office LLC boosted its holdings in shares of PulteGroup by 115.1% during the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock worth $27,000 after buying an additional 99 shares in the last quarter. Transcendent Capital Group LLC acquired a new position in shares of PulteGroup during the 3rd quarter valued at $29,000. JNBA Financial Advisors bought a new position in PulteGroup during the third quarter worth $43,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in PulteGroup by 1,059.3% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 313 shares of the construction company’s stock worth $45,000 after purchasing an additional 286 shares during the period. Finally, Grove Bank & Trust increased its stake in PulteGroup by 18.4% in the third quarter. Grove Bank & Trust now owns 463 shares of the construction company’s stock valued at $66,000 after purchasing an additional 72 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Stock Performance

PHM stock opened at $118.47 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.14. The firm has a market cap of $24.30 billion, a PE ratio of 8.74, a P/E/G ratio of 0.46 and a beta of 1.67. The business has a 50 day moving average of $118.23 and a 200-day moving average of $127.48. PulteGroup, Inc. has a 12-month low of $100.24 and a 12-month high of $149.47.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.28 by $0.22. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. As a group, sell-side analysts expect that PulteGroup, Inc. will post 12.96 earnings per share for the current year.

PulteGroup announced that its Board of Directors has initiated a stock buyback program on Thursday, January 30th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the construction company to buy up to 6.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

PulteGroup Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th were given a $0.22 dividend. This is a positive change from PulteGroup’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $0.88 annualized dividend and a yield of 0.74%. PulteGroup’s payout ratio is currently 6.49%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on PHM shares. StockNews.com cut shares of PulteGroup from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Evercore ISI reduced their price objective on PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Barclays lowered their target price on PulteGroup from $140.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. Seaport Res Ptn downgraded shares of PulteGroup from a “hold” rating to a “strong sell” rating in a research report on Monday. Finally, Wells Fargo & Company decreased their price target on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, PulteGroup presently has an average rating of “Moderate Buy” and a consensus price target of $142.29.

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.