Sciencast Management LP purchased a new position in PulteGroup, Inc. (NYSE:PHM) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 29,005 shares of the construction company’s stock, valued at approximately $1,011,000.
A number of other hedge funds have also bought and sold shares of the business. CHURCHILL MANAGEMENT Corp boosted its stake in PulteGroup by 2.0% in the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 83,701 shares of the construction company’s stock worth $2,783,000 after purchasing an additional 1,670 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of PulteGroup by 2.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,053 shares of the construction company’s stock worth $2,196,000 after acquiring an additional 1,760 shares in the last quarter. Moors & Cabot Inc. raised its holdings in shares of PulteGroup by 7.3% during the 3rd quarter. Moors & Cabot Inc. now owns 27,543 shares of the construction company’s stock worth $755,000 after acquiring an additional 1,865 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of PulteGroup by 28.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 8,808 shares of the construction company’s stock worth $294,000 after acquiring an additional 1,946 shares in the last quarter. Finally, Catamount Wealth Management raised its holdings in shares of PulteGroup by 2.8% during the 3rd quarter. Catamount Wealth Management now owns 78,501 shares of the construction company’s stock worth $2,145,000 after acquiring an additional 2,101 shares in the last quarter. Institutional investors and hedge funds own 85.54% of the company’s stock.
In other news, Director Patrick J. Oleary sold 8,677 shares of the stock in a transaction 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 transaction, the director now owns 90,687 shares of the company’s stock, valued at approximately $2,723,330.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.71% of the stock is currently owned by corporate insiders.
PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, January 30th. The construction company reported $0.85 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.85. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.82 billion. PulteGroup had a return on equity of 15.52% and a net margin of 5.22%. PulteGroup’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.67 EPS. equities analysts predict that PulteGroup, Inc. will post 3.11 earnings per share for the current year.
PulteGroup declared that its board has initiated a share repurchase program on Tuesday, January 30th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the construction company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Friday, March 16th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Thursday, March 15th. PulteGroup’s payout ratio is 25.00%.
PHM has been the topic of several recent research reports. Credit Suisse Group reaffirmed an “outperform” rating and set a $38.00 price objective (up from $32.00) on shares of PulteGroup in a report on Monday, January 22nd. They noted that the move was a valuation call. Zacks Investment Research upgraded PulteGroup from a “sell” rating to a “hold” rating and set a $40.00 price target on the stock in a report on Thursday, January 4th. UBS Group increased their price target on PulteGroup from $38.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. B. Riley lowered PulteGroup from a “buy” rating to a “neutral” rating and increased their price target for the company from $31.00 to $36.00 in a report on Wednesday, January 3rd. Finally, ValuEngine upgraded PulteGroup from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target 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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