Deutsche Bank AG Acquires 232,939 Shares of PulteGroup, Inc. (NYSE:PHM)

Deutsche Bank AG raised its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 14.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,859,029 shares of the construction company’s stock after acquiring an additional 232,939 shares during the period. Deutsche Bank AG owned approximately 0.91% of PulteGroup worth $202,448,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Hager Investment Management Services LLC bought a new stake in PulteGroup in the fourth quarter valued at about $29,000. Fortitude Family Office LLC increased its stake in shares of PulteGroup by 74.1% in the 4th quarter. Fortitude Family Office LLC now owns 322 shares of the construction company’s stock valued at $35,000 after acquiring an additional 137 shares during the last quarter. TD Waterhouse Canada Inc. raised its position in shares of PulteGroup by 43.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company’s stock valued at $38,000 after acquiring an additional 105 shares during the period. R Squared Ltd bought a new position in PulteGroup during the 4th quarter worth approximately $39,000. Finally, Quarry LP bought a new stake in PulteGroup in the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

Insider Activity

In other news, EVP Todd N. Sheldon sold 15,191 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $106.50, for a total transaction of $1,617,841.50. Following the completion of the sale, the executive vice president now owns 74,758 shares in the company, valued at approximately $7,961,727. This trade represents a 16.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Brian P. Anderson sold 2,500 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $106.45, for a total transaction of $266,125.00. Following the completion of the transaction, the director now owns 56,617 shares in the company, valued at approximately $6,026,879.65. This trade represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,191 shares of company stock valued at $2,256,367. 0.76% of the stock is owned by company insiders.

PulteGroup Stock Performance

PHM opened at $102.57 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86. The business’s 50-day simple moving average is $101.13 and its 200 day simple moving average is $112.23. The firm has a market capitalization of $20.56 billion, a PE ratio of 6.97, a PEG ratio of 0.29 and a beta of 1.37. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $149.47.

PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, April 22nd. The construction company reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.10. The business had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.86 billion. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. During the same period last year, the business earned $3.10 earnings per share. As a group, sell-side analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup announced that its Board of Directors has initiated a share repurchase program on Thursday, January 30th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the construction company to buy up to 6.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

PulteGroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Tuesday, June 17th will be paid a dividend of $0.22 per share. The ex-dividend date is Tuesday, June 17th. This represents a $0.88 annualized dividend and a dividend yield of 0.86%. PulteGroup’s dividend payout ratio is presently 6.21%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PHM shares. Bank of America decreased their price target on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating for the company in a report on Monday, January 27th. Oppenheimer dropped their price target on PulteGroup from $165.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday, January 31st. Evercore ISI boosted their price objective on PulteGroup from $161.00 to $165.00 and gave the company an “outperform” rating in a research report on Wednesday, April 23rd. Barclays dropped their target price on shares of PulteGroup from $100.00 to $98.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 23rd. Finally, Wedbush reiterated an “outperform” rating and issued a $135.00 price target on shares of PulteGroup in a report on Tuesday, April 22nd. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $134.69.

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.