Fideuram Asset Management Ireland dac bought a new position in shares of PulteGroup, Inc. (NYSE:PHM – Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 147,181 shares of the construction company’s stock, valued at approximately $17,258,000. PulteGroup accounts for about 1.3% of Fideuram Asset Management Ireland dac’s holdings, making the stock its 14th largest holding.
Other large investors have also recently made changes to their positions in the company. Rachor Investment Advisory Services LLC purchased a new stake in shares of PulteGroup during the fourth quarter worth approximately $31,000. Lloyd Advisory Services LLC. purchased a new stake in shares of PulteGroup during the fourth quarter worth approximately $33,000. High Point Wealth Management LLC purchased a new stake in shares of PulteGroup during the fourth quarter worth approximately $38,000. Beacon Financial Strategies CORP purchased a new stake in shares of PulteGroup during the fourth quarter worth approximately $40,000. Finally, Elyxium Wealth LLC purchased a new position in PulteGroup in the fourth quarter valued at approximately $41,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.
PulteGroup Stock Performance
Shares of PulteGroup stock opened at $118.00 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $22.48 billion, a P/E ratio of 11.41, a P/E/G ratio of 1.51 and a beta of 1.23. The firm’s 50 day moving average is $119.00 and its two-hundred day moving average is $124.06. PulteGroup, Inc. has a 52 week low of $95.20 and a 52 week high of $144.49.
PulteGroup Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Tuesday, June 16th will be given a dividend of $0.26 per share. The ex-dividend date is Tuesday, June 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. PulteGroup’s dividend payout ratio (DPR) is 10.06%.
PulteGroup declared that its Board of Directors has initiated a share repurchase program on Thursday, April 23rd that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the construction company to purchase up to 6.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
Analyst Upgrades and Downgrades
Several equities analysts have commented on the stock. UBS Group increased their price target on shares of PulteGroup from $159.00 to $162.00 and gave the company a “buy” rating in a research note on Friday, April 24th. JPMorgan Chase & Co. dropped their price target on shares of PulteGroup from $149.00 to $131.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 3rd. Seaport Research Partners reiterated a “sell” rating and issued a $100.00 price target (down from $155.00) on shares of PulteGroup in a research note on Tuesday, April 7th. Oppenheimer reiterated an “outperform” rating on shares of PulteGroup in a research note on Tuesday. Finally, Weiss Ratings lowered shares of PulteGroup from a “buy (b-)” rating to a “hold (c)” rating in a research note on Monday, April 27th. Ten analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $140.71.
Check Out Our Latest Stock Analysis on PulteGroup
Insider Buying and Selling
In other news, COO Matthew William Koart sold 7,457 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $120.00, for a total transaction of $894,840.00. Following the transaction, the chief operating officer directly owned 28,100 shares in the company, valued at approximately $3,372,000. This trade represents a 20.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lila Snyder sold 3,339 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $117.18, for a total transaction of $391,264.02. Following the transaction, 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 disclosure for this sale is available in the SEC filing. Company insiders own 0.75% of the company’s stock.
PulteGroup Company 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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