Rakuten Investment Management Inc. Invests $6.15 Million in PulteGroup, Inc. $PHM

Rakuten Investment Management Inc. bought a new position in PulteGroup, Inc. (NYSE:PHM) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 46,549 shares of the construction company’s stock, valued at approximately $6,151,000.

Other institutional investors have also added to or reduced their stakes in the company. Evergreen Capital Management LLC lifted its stake in PulteGroup by 2.8% during the second quarter. Evergreen Capital Management LLC now owns 2,875 shares of the construction company’s stock worth $304,000 after purchasing an additional 78 shares during the last quarter. Fidelis Capital Partners LLC lifted its position in PulteGroup by 1.0% in the 2nd quarter. Fidelis Capital Partners LLC now owns 8,760 shares of the construction company’s stock worth $924,000 after buying an additional 85 shares during the last quarter. Apella Capital LLC boosted its stake in PulteGroup by 4.2% in the third quarter. Apella Capital LLC now owns 2,163 shares of the construction company’s stock worth $268,000 after buying an additional 87 shares in the last quarter. Cooper Financial Group grew its position in PulteGroup by 1.4% during the second quarter. Cooper Financial Group now owns 6,697 shares of the construction company’s stock valued at $706,000 after acquiring an additional 92 shares during the last quarter. Finally, CWM LLC grew its position in PulteGroup by 0.6% during the third quarter. CWM LLC now owns 14,308 shares of the construction company’s stock valued at $1,890,000 after acquiring an additional 92 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.

Analyst Ratings Changes

PHM has been the subject of a number of research reports. Weiss Ratings raised shares of PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. The Goldman Sachs Group reissued a “neutral” rating and issued a $144.00 price target on shares of PulteGroup in a research note on Tuesday, January 13th. Bank of America reduced their price objective on PulteGroup from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, October 10th. BTIG Research began coverage on PulteGroup in a report on Monday, December 1st. They issued a “neutral” rating on the stock. Finally, Citizens Jmp assumed coverage on PulteGroup in a report on Wednesday, January 7th. They set a “market outperform” rating and a $145.00 target price for the company. Nine investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $138.85.

PulteGroup Price Performance

PHM stock opened at $127.69 on Friday. The stock has a market capitalization of $24.89 billion, a price-to-earnings ratio of 9.83, a PEG ratio of 1.06 and a beta of 1.33. The firm’s 50-day moving average price is $123.56 and its two-hundred day moving average price is $124.11. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-month high of $142.11.

PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, October 21st. The construction company reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.10. PulteGroup had a return on equity of 19.58% and a net margin of 14.93%.The company had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.31 billion. During the same period last year, the firm earned $3.35 earnings per share. PulteGroup’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, equities analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Increases Dividend

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

PulteGroup Profile

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.