First Trust Advisors LP raised its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 22.1% during the 4th quarter, HoldingsChannel reports. The fund owned 425,026 shares of the construction company’s stock after acquiring an additional 76,963 shares during the period. First Trust Advisors LP’s holdings in PulteGroup were worth $14,132,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. Barings LLC lifted its stake in PulteGroup by 40.1% during the 4th quarter. Barings LLC now owns 86,247 shares of the construction company’s stock valued at $2,868,000 after acquiring an additional 24,700 shares in the last quarter. Sei Investments Co. raised its stake in shares of PulteGroup by 38.9% during the 4th quarter. Sei Investments Co. now owns 110,983 shares of the construction company’s stock worth $3,691,000 after purchasing an additional 31,053 shares during the period. NuWave Investment Management LLC bought a new stake in shares of PulteGroup during the 4th quarter worth $709,000. Wealthstreet Investment Advisors LLC bought a new stake in shares of PulteGroup during the 4th quarter worth $555,000. Finally, LS Investment Advisors LLC raised its stake in shares of PulteGroup by 23.6% during the 4th quarter. LS Investment Advisors LLC now owns 20,296 shares of the construction company’s stock worth $675,000 after purchasing an additional 3,869 shares during the period. Institutional investors and hedge funds own 83.80% of the company’s stock.
Shares of PulteGroup, Inc. (PHM) opened at $28.50 on Wednesday. PulteGroup, Inc. has a 52 week low of $21.41 and a 52 week high of $35.21. The stock has a market capitalization of $8,404.88, a PE ratio of 13.16, a P/E/G ratio of 0.46 and a beta of 1.03.
PulteGroup announced that its Board of Directors has authorized a stock buyback plan on Tuesday, January 30th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the construction company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 3rd. Shareholders of record on Friday, March 16th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Thursday, March 15th. PulteGroup’s payout ratio is presently 25.00%.
In related news, CFO Robert Oshaughnessy sold 92,800 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $33.89, for a total value of $3,144,992.00. Following the completion of the sale, the chief financial officer now owns 363,722 shares in the company, valued at approximately $12,326,538.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Patrick J. Oleary sold 8,677 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $30.03, for a total value of $260,570.31. Following the completion of the sale, the director now owns 90,687 shares of the company’s stock, valued at approximately $2,723,330.61. The disclosure for this sale can be found here. 0.71% of the stock is owned by insiders.
A number of research firms have recently commented on PHM. Royal Bank of Canada set a $39.00 target price on PulteGroup and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Zacks Investment Research cut PulteGroup from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. B. Riley reiterated a “hold” rating and set a $36.00 target price on shares of PulteGroup in a research note on Wednesday, January 31st. Credit Suisse Group upgraded PulteGroup to a “buy” rating and set a $38.00 target price on the stock in a research note on Wednesday, January 31st. Finally, Mizuho upgraded PulteGroup from a “neutral” rating to a “buy” rating in a research note on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $32.85.
PulteGroup Company Profile
PulteGroup, Inc is a homebuilder in the United States. The Company’s segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land.
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