Hanseatic Management Services Inc. purchased a new position in shares of PulteGroup, Inc. (NYSE:PHM) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 23,089 shares of the construction company’s stock, valued at approximately $768,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. lifted its position in PulteGroup by 27.8% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 16,934 shares of the construction company’s stock valued at $463,000 after purchasing an additional 3,688 shares during the period. Chicago Equity Partners LLC acquired a new position in PulteGroup during the 3rd quarter valued at about $465,000. State of Wisconsin Investment Board lifted its position in PulteGroup by 4.6% during the 3rd quarter. State of Wisconsin Investment Board now owns 262,324 shares of the construction company’s stock valued at $7,169,000 after purchasing an additional 11,422 shares during the period. Daiwa Securities Group Inc. lifted its position in PulteGroup by 12.5% during the 3rd quarter. Daiwa Securities Group Inc. now owns 27,455 shares of the construction company’s stock valued at $750,000 after purchasing an additional 3,055 shares during the period. Finally, Jennison Associates LLC acquired a new position in PulteGroup during the 3rd quarter valued at about $912,000. Institutional investors and hedge funds own 85.54% of the company’s stock.
In related news, Director Patrick J. Oleary sold 8,677 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $30.03, for a total transaction of $260,570.31. Following the completion of the sale, the director now directly owns 90,687 shares of the company’s stock, valued at approximately $2,723,330.61. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.71% of the stock is currently owned by corporate insiders.
PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, January 30th. The construction company reported $0.85 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.85. PulteGroup had a return on equity of 15.52% and a net margin of 5.22%. The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same period in the prior year, the business earned $0.67 EPS. PulteGroup’s revenue for the quarter was up 12.1% compared to the same quarter last year. equities analysts anticipate that PulteGroup, Inc. will post 3.11 EPS for the current year.
PulteGroup announced that its board has initiated a share repurchase program on Tuesday, January 30th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the construction company to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 3rd. Investors of record on Friday, March 16th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, March 15th. This represents a $0.36 dividend on an annualized basis and a yield of 1.20%. PulteGroup’s payout ratio is 25.00%.
A number of research analysts have issued reports on PHM shares. Zacks Investment Research upgraded shares of PulteGroup from a “sell” rating to a “hold” rating and set a $40.00 target price on the stock in a research report on Thursday, January 4th. Mizuho upgraded shares of PulteGroup from a “neutral” rating to a “buy” rating in a research report on Thursday, January 18th. ValuEngine raised PulteGroup from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Wedbush upped their price target on PulteGroup from $27.00 to $35.00 and gave the company a “neutral” rating in a research note on Friday, December 29th. Finally, Buckingham Research cut PulteGroup from a “buy” rating to a “neutral” rating and upped their price target for the company from $31.00 to $33.00 in a research note on Sunday, November 26th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average 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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