Brevan Howard Capital Management LP Sells 24,315 Shares of PulteGroup, Inc. (NYSE:PHM)

Brevan Howard Capital Management LP cut its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 51.5% in the 4th quarter, HoldingsChannel reports. The fund owned 22,873 shares of the construction company’s stock after selling 24,315 shares during the period. Brevan Howard Capital Management LP’s holdings in PulteGroup were worth $2,491,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. GAMMA Investing LLC increased its holdings in PulteGroup by 17.7% during the 4th quarter. GAMMA Investing LLC now owns 2,190 shares of the construction company’s stock worth $238,000 after purchasing an additional 329 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of PulteGroup by 10.0% in the fourth quarter. Nordea Investment Management AB now owns 1,424,119 shares of the construction company’s stock valued at $155,856,000 after purchasing an additional 129,975 shares in the last quarter. Pensionfund Sabic boosted its position in shares of PulteGroup by 71.4% during the fourth quarter. Pensionfund Sabic now owns 12,000 shares of the construction company’s stock valued at $1,307,000 after buying an additional 5,000 shares during the last quarter. Fortitude Family Office LLC grew its holdings in PulteGroup by 74.1% during the fourth quarter. Fortitude Family Office LLC now owns 322 shares of the construction company’s stock worth $35,000 after buying an additional 137 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in PulteGroup by 3.2% in the 4th quarter. Harbor Capital Advisors Inc. now owns 4,559 shares of the construction company’s stock valued at $496,000 after buying an additional 143 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Performance

NYSE:PHM opened at $100.98 on Wednesday. PulteGroup, Inc. has a 1 year low of $88.07 and a 1 year high of $149.47. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. The business has a fifty day simple moving average of $101.15 and a two-hundred day simple moving average of $112.81. The company has a market capitalization of $20.24 billion, a P/E ratio of 6.86, a P/E/G ratio of 0.29 and a beta of 1.37.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, April 22nd. The construction company reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.10. The company had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.86 billion. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. During the same quarter last year, the firm posted $3.10 EPS. On average, analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup announced that its board has initiated a stock buyback program on Thursday, January 30th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the construction company to repurchase up to 6.2% of its stock through open market purchases. Stock repurchase programs are generally 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, July 2nd. Investors of record on Tuesday, June 17th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Tuesday, June 17th. PulteGroup’s dividend payout ratio (DPR) is presently 6.21%.

Insider Activity at PulteGroup

In related news, VP Brien P. O’meara sold 3,500 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $106.40, for a total transaction of $372,400.00. Following the sale, the vice president now directly owns 11,372 shares in the company, valued at approximately $1,209,980.80. The trade was a 23.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Todd N. Sheldon sold 15,191 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $106.50, for a total value of $1,617,841.50. Following the sale, the executive vice president now directly owns 74,758 shares in the company, valued at $7,961,727. This trade represents a 16.89 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,191 shares of company stock worth $2,256,367. Corporate insiders own 0.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Royal Bank of Canada cut their price objective on shares of PulteGroup from $116.00 to $109.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 23rd. Oppenheimer cut their price target on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. UBS Group reduced their price objective on shares of PulteGroup from $151.00 to $141.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Bank of America dropped their target price on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. Finally, Seaport Res Ptn raised PulteGroup from a “strong sell” rating to a “hold” rating in a report on Thursday, March 6th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $134.69.

PulteGroup Company 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.