Man Group plc Has $107.70 Million Holdings in PulteGroup, Inc. (NYSE:PHM)

Man Group plc lifted its stake in PulteGroup, Inc. (NYSE:PHM) by 136.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 988,963 shares of the construction company’s stock after buying an additional 571,251 shares during the period. Man Group plc owned about 0.48% of PulteGroup worth $107,698,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PHM. Hager Investment Management Services LLC acquired a new position in shares of PulteGroup in the 4th quarter worth approximately $29,000. TD Waterhouse Canada Inc. increased its holdings in PulteGroup by 43.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company’s stock valued at $38,000 after purchasing an additional 105 shares in the last quarter. R Squared Ltd acquired a new stake in PulteGroup during the 4th quarter valued at $39,000. Quarry LP acquired a new stake in PulteGroup during the 4th quarter valued at $43,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its holdings in PulteGroup by 41.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 444 shares of the construction company’s stock valued at $48,000 after purchasing an additional 131 shares in the last quarter. 89.90% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at PulteGroup

In other news, EVP Todd N. Sheldon sold 15,191 shares of the firm’s stock in a transaction on 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 transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Brien P. O’meara sold 3,500 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $106.40, for a total value of $372,400.00. Following the completion of the transaction, the vice president now owns 11,372 shares in the company, valued at $1,209,980.80. This represents a 23.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.76% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PHM has been the subject of a number of recent analyst reports. Seaport Res Ptn raised PulteGroup from a “strong sell” rating to a “hold” rating in a report on Thursday, March 6th. Royal Bank of Canada dropped their price target on PulteGroup from $116.00 to $109.00 and set a “sector perform” rating for the company in a report on Wednesday, April 23rd. Barclays dropped their price target on PulteGroup from $100.00 to $98.00 and set an “equal weight” rating for the company in a report on Wednesday, April 23rd. Bank of America dropped their price target on PulteGroup from $135.00 to $134.00 and set a “buy” rating for the company in a report on Monday, January 27th. Finally, Wedbush reaffirmed an “outperform” rating and set 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 given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $134.69.

PulteGroup Stock Down 0.1%

NYSE:PHM opened at $106.45 on Wednesday. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-month high of $149.47. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $21.34 billion, a P/E ratio of 7.24, a P/E/G ratio of 0.29 and a beta of 1.37. The stock’s fifty day simple moving average is $101.10 and its 200-day simple moving average is $111.70.

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

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

PulteGroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Tuesday, June 17th will be given a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.88 annualized dividend and a dividend yield of 0.83%. PulteGroup’s dividend payout ratio is currently 6.21%.

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.