Miura Global Management LLC Invests $718,000 in PulteGroup, Inc. (NYSE:PHM)

Miura Global Management LLC purchased a new position in PulteGroup, Inc. (NYSE:PHM - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 5,000 shares of the construction company's stock, valued at approximately $718,000. PulteGroup accounts for 0.8% of Miura Global Management LLC's holdings, making the stock its 21st largest position.

Several other institutional investors also recently added to or reduced their stakes in the business. Grove Bank & Trust increased its position in shares of PulteGroup by 18.4% during 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 during the period. WR Wealth Planners LLC boosted its stake in PulteGroup by 54.7% in the 2nd quarter. WR Wealth Planners LLC now owns 232 shares of the construction company's stock valued at $26,000 after buying an additional 82 shares in the last quarter. Cromwell Holdings LLC boosted its stake in PulteGroup by 17.2% in the 3rd quarter. Cromwell Holdings LLC now owns 565 shares of the construction company's stock valued at $81,000 after buying an additional 83 shares in the last quarter. Concord Wealth Partners boosted its stake in PulteGroup by 1.7% in the 3rd quarter. Concord Wealth Partners now owns 5,002 shares of the construction company's stock valued at $718,000 after buying an additional 83 shares in the last quarter. Finally, Lebenthal Global Advisors LLC boosted its stake in PulteGroup by 3.9% in the 2nd quarter. Lebenthal Global Advisors LLC now owns 2,329 shares of the construction company's stock valued at $256,000 after buying an additional 87 shares in the last quarter. 89.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on PHM shares. UBS Group boosted their price target on PulteGroup from $148.00 to $154.00 and gave the company a "neutral" rating in a research note on Wednesday, October 23rd. Wells Fargo & Company boosted their price target on PulteGroup from $150.00 to $165.00 and gave the company an "overweight" rating in a research note on Monday, October 7th. Wolfe Research lowered PulteGroup from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, August 14th. Wedbush reissued a "neutral" rating and issued a $115.00 price objective on shares of PulteGroup in a research note on Tuesday, October 22nd. Finally, Oppenheimer reduced their price objective on PulteGroup from $168.00 to $165.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $145.00.

PulteGroup Stock Down 3.5 %

NYSE PHM traded down $4.70 during trading hours on Wednesday, hitting $129.30. 1,879,914 shares of the company traded hands, compared to its average volume of 1,818,828. The business's 50-day moving average is $135.85 and its 200-day moving average is $126.77. PulteGroup, Inc. has a twelve month low of $90.50 and a twelve month high of $149.47. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a market capitalization of $26.52 billion, a price-to-earnings ratio of 9.88, a P/E/G ratio of 0.55 and a beta of 1.62.

PulteGroup (NYSE:PHM - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, beating the consensus estimate of $3.10 by $0.25. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The firm had revenue of $4.48 billion during the quarter, compared to analysts' expectations of $4.27 billion. During the same period in the prior year, the firm posted $2.90 earnings per share. The business's quarterly revenue was up 11.8% compared to the same quarter last year. Sell-side analysts anticipate that PulteGroup, Inc. will post 12.94 earnings per share for the current year.

PulteGroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.68%. This is a boost from PulteGroup's previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, December 17th. PulteGroup's dividend payout ratio (DPR) is presently 5.90%.

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.