Mirae Asset Global Investments Co. Ltd. Has $3.76 Million Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Mirae Asset Global Investments Co. Ltd. reduced its stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 9.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,382 shares of the construction company's stock after selling 3,791 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in PulteGroup were worth $3,755,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Hager Investment Management Services LLC bought a new position in PulteGroup during the fourth quarter valued at about $29,000. Stratos Wealth Partners LTD. increased its stake in shares of PulteGroup by 8.0% in the fourth quarter. Stratos Wealth Partners LTD. now owns 10,234 shares of the construction company's stock worth $1,115,000 after purchasing an additional 756 shares during the period. 1858 Wealth Management LLC increased its stake in shares of PulteGroup by 5.0% in the fourth quarter. 1858 Wealth Management LLC now owns 2,349 shares of the construction company's stock worth $256,000 after purchasing an additional 112 shares during the period. Jennison Associates LLC bought a new position in shares of PulteGroup in the fourth quarter worth about $1,021,000. Finally, JB Capital LLC increased its stake in shares of PulteGroup by 2.8% in the fourth quarter. JB Capital LLC now owns 30,838 shares of the construction company's stock worth $3,358,000 after purchasing an additional 846 shares during the period. 89.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PHM has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price objective on PulteGroup from $162.00 to $155.00 and set an "overweight" rating on the stock in a research note on Friday, December 13th. Oppenheimer dropped their price objective on PulteGroup from $165.00 to $150.00 and set an "outperform" rating on the stock in a research note on Friday, January 31st. Wedbush reiterated an "outperform" rating and issued a $135.00 price objective on shares of PulteGroup in a research note on Friday, January 31st. The Goldman Sachs Group lowered their price target on PulteGroup from $140.00 to $124.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 14th. Finally, Barclays lowered their price target on PulteGroup from $125.00 to $117.00 and set an "equal weight" rating on the stock in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $140.86.

PulteGroup Price Performance

NYSE PHM traded down $1.32 during trading on Wednesday, reaching $106.01. 2,274,421 shares of the company traded hands, compared to its average volume of 2,320,737. 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 stock's 50 day moving average price is $113.91 and its two-hundred day moving average price is $126.63. The company has a market cap of $21.74 billion, a price-to-earnings ratio of 7.21, a P/E/G ratio of 0.29 and a beta of 1.68. PulteGroup, Inc. has a 1-year low of $100.24 and a 1-year high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 earnings per share for the quarter, beating analysts' consensus estimates 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, analysts anticipate that PulteGroup, Inc. will post 12.43 EPS for the current year.

PulteGroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Tuesday, March 18th. PulteGroup's payout ratio is currently 5.98%.

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

Insider Transactions at PulteGroup

In other news, Director Brian P. Anderson sold 2,500 shares of the business's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $106.45, for a total value of $266,125.00. Following the transaction, the director now directly owns 56,617 shares of the company's stock, valued at $6,026,879.65. The trade was a 4.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.83% of the stock is owned by company insiders.

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.