Generate Investment Management Ltd Has $12.36 Million Stock Position in PulteGroup, Inc. (NYSE:PHM)

Generate Investment Management Ltd boosted its position in PulteGroup, Inc. (NYSE:PHM) by 13.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 113,497 shares of the construction company’s stock after buying an additional 13,203 shares during the quarter. Generate Investment Management Ltd’s holdings in PulteGroup were worth $12,360,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PHM. Fortitude Family Office LLC increased its stake in shares of PulteGroup by 115.1% in the 3rd 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 last quarter. Transcendent Capital Group LLC bought a new stake in shares of PulteGroup during the 3rd quarter worth $29,000. Hager Investment Management Services LLC acquired a new stake in PulteGroup in the fourth quarter valued at about $29,000. JNBA Financial Advisors bought a new position in PulteGroup in the third quarter valued at about $43,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in PulteGroup by 1,059.3% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 313 shares of the construction company’s stock worth $45,000 after acquiring an additional 286 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PHM. The Goldman Sachs Group reduced their price target on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Wells Fargo & Company cut their target price on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. StockNews.com downgraded shares of PulteGroup from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. Seaport Res Ptn downgraded PulteGroup from a “hold” rating to a “strong sell” rating in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. reduced their price objective on PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a research report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, PulteGroup presently has an average rating of “Moderate Buy” and an average price target of $140.86.

PulteGroup Stock Performance

NYSE:PHM opened at $109.89 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.73 and a current ratio of 0.86. PulteGroup, Inc. has a fifty-two week low of $100.24 and a fifty-two week high of $149.47. The company has a 50 day simple moving average of $116.14 and a two-hundred day simple moving average of $127.14. The company has a market capitalization of $22.54 billion, a PE ratio of 7.47, a P/E/G ratio of 0.49 and a beta of 1.68.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.28 by $0.22. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. Research analysts anticipate that PulteGroup, Inc. will post 13.34 earnings per share for the current year.

PulteGroup announced that its board has approved a stock repurchase program on Thursday, January 30th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to reacquire up to 6.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

PulteGroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.80%. The ex-dividend date is Tuesday, March 18th. PulteGroup’s dividend payout ratio (DPR) is presently 5.98%.

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.