HM Payson & Co. Invests $237,000 in PulteGroup, Inc. (PHM)

HM Payson & Co. purchased a new stake in PulteGroup, Inc. (NYSE:PHM) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 7,117 shares of the construction company’s stock, valued at approximately $237,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Focused Wealth Management Inc acquired a new stake in shares of PulteGroup in the fourth quarter valued at approximately $113,000. SeaCrest Wealth Management LLC acquired a new stake in shares of PulteGroup in the fourth quarter valued at approximately $119,000. National Pension Service acquired a new stake in shares of PulteGroup in the fourth quarter valued at approximately $138,000. Invictus RG raised its position in shares of PulteGroup by 1,473.4% in the third quarter. Invictus RG now owns 4,264 shares of the construction company’s stock valued at $117,000 after buying an additional 3,993 shares in the last quarter. Finally, Fieldpoint Private Securities LLC acquired a new stake in shares of PulteGroup in the third quarter valued at approximately $150,000. Institutional investors own 85.34% of the company’s stock.

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A number of research firms have recently weighed in on PHM. Royal Bank of Canada set a $39.00 price target on shares of PulteGroup and gave the company a “buy” rating in a research report on Wednesday, February 14th. B. Riley downgraded shares of PulteGroup from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $31.00 to $36.00 in a research report on Wednesday, January 3rd. Credit Suisse Group restated an “outperform” rating and set a $38.00 price objective (up from $32.00) on shares of PulteGroup in a research report on Monday, January 22nd. They noted that the move was a valuation call. Mizuho restated a “buy” rating and set a $36.00 price objective on shares of PulteGroup in a research report on Thursday, March 15th. Finally, UBS boosted their price objective on shares of PulteGroup from $38.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $33.92.

In other PulteGroup news, Director Patrick J. Oleary sold 8,677 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $30.03, for a total transaction of $260,570.31. Following the sale, the director now owns 90,687 shares of the company’s stock, valued at $2,723,330.61. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.71% of the company’s stock.

PHM stock opened at $28.65 on Friday. The company has a market cap of $8,419.21, a P/E ratio of 19.90, a price-to-earnings-growth ratio of 0.46 and a beta of 1.12. PulteGroup, Inc. has a 1 year low of $21.41 and a 1 year high of $35.21.

PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, January 30th. The construction company reported $0.85 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.85. The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.82 billion. PulteGroup had a net margin of 5.22% and a return on equity of 15.52%. The company’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.67 earnings per share. equities research analysts forecast that PulteGroup, Inc. will post 3.11 EPS for the current fiscal year.

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 paid a dividend of $0.09 per share. The ex-dividend date is Thursday, March 15th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.26%. PulteGroup’s payout ratio is presently 25.00%.

PulteGroup announced that its board has authorized a share repurchase program on Tuesday, January 30th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the construction company to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

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About PulteGroup

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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Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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