Caitong International Asset Management Co. Ltd purchased a new stake in PulteGroup, Inc. (NYSE:PHM – Free Report) in the 4th quarter, HoldingsChannel reports. The fund purchased 4,479 shares of the construction company’s stock, valued at approximately $525,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in PHM. MidFirst Bank bought a new stake in shares of PulteGroup in the 4th quarter valued at $8,146,000. SG Trading Solutions LLC bought a new stake in shares of PulteGroup during the 4th quarter valued at about $202,000. Pacer Advisors Inc. increased its holdings in PulteGroup by 8.1% in the fourth quarter. Pacer Advisors Inc. now owns 735,921 shares of the construction company’s stock worth $86,294,000 after purchasing an additional 55,206 shares in the last quarter. Kera Capital Partners Inc. boosted its holdings in shares of PulteGroup by 127.3% during the 4th quarter. Kera Capital Partners Inc. now owns 4,475 shares of the construction company’s stock worth $560,000 after buying an additional 2,506 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of PulteGroup in the 4th quarter valued at $323,000. 89.90% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several brokerages have recently weighed in on PHM. Wells Fargo & Company upped their price objective on shares of PulteGroup from $132.00 to $140.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Citigroup boosted their price target on shares of PulteGroup from $136.00 to $138.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. UBS Group boosted their target price on shares of PulteGroup from $159.00 to $162.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Seaport Research Partners reissued a “sell” rating and issued a $100.00 price objective (down from $155.00) on shares of PulteGroup in a research note on Tuesday, April 7th. Finally, Truist Financial dropped their price objective on PulteGroup from $170.00 to $150.00 and set a “buy” rating on the stock in a research note on Thursday, April 16th. Ten investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.71.
PulteGroup Stock Performance
Shares of PulteGroup stock opened at $127.03 on Friday. The business’s fifty day simple moving average is $120.27 and its 200 day simple moving average is $124.15. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.14. PulteGroup, Inc. has a 12 month low of $99.45 and a 12 month high of $144.49. The firm has a market capitalization of $24.20 billion, a P/E ratio of 12.29, a price-to-earnings-growth ratio of 1.61 and a beta of 1.20.
PulteGroup (NYSE:PHM – Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The construction company reported $1.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.01). PulteGroup had a net margin of 12.14% and a return on equity of 16.41%. The business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter last year, the company earned $2.57 EPS. The firm’s revenue for the quarter was down 12.4% compared to the same quarter last year. As a group, analysts anticipate that PulteGroup, Inc. will post 10 EPS for the current year.
PulteGroup Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Tuesday, June 16th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, June 16th. PulteGroup’s payout ratio is 10.06%.
PulteGroup announced that its board has initiated a share buyback program on Thursday, April 23rd that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the construction company to purchase up to 6.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
Insider Activity
In related news, Director Lila Snyder sold 3,339 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $117.18, for a total transaction of $391,264.02. Following the completion of the sale, the director owned 3,540 shares in the company, valued at approximately $414,817.20. This trade represents a 48.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Matthew William Koart sold 7,457 shares of PulteGroup stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $120.00, for a total transaction of $894,840.00. Following the completion of the sale, the chief operating officer directly owned 28,100 shares in the company, valued at approximately $3,372,000. This represents a 20.97% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.75% of the stock is currently owned by corporate insiders.
PulteGroup Profile
PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.
PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.
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