Raymond James & Associates lifted its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 16.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 297,426 shares of the construction company’s stock after buying an additional 42,237 shares during the quarter. Raymond James & Associates owned about 0.10% of PulteGroup worth $9,890,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in the company. Two Sigma Advisers LP acquired a new stake in shares of PulteGroup during the 4th quarter worth approximately $9,969,000. Muhlenkamp & Co. Inc. acquired a new stake in shares of PulteGroup during the 4th quarter worth approximately $6,664,000. Stone Ridge Asset Management LLC acquired a new stake in shares of PulteGroup during the 4th quarter worth approximately $4,024,000. Guggenheim Capital LLC grew its position in shares of PulteGroup by 31.9% during the 4th quarter. Guggenheim Capital LLC now owns 2,150,291 shares of the construction company’s stock worth $71,496,000 after buying an additional 520,436 shares during the period. Finally, Kemnay Advisory Services Inc. grew its position in shares of PulteGroup by 28.7% during the 4th quarter. Kemnay Advisory Services Inc. now owns 38,464 shares of the construction company’s stock worth $1,279,000 after buying an additional 8,582 shares during the period. 85.34% of the stock is owned by institutional investors.
PulteGroup, Inc. (NYSE PHM) opened at $28.65 on Monday. PulteGroup, Inc. has a twelve month low of $21.41 and a twelve month high of $35.21. The stock has a market capitalization of $8,207.22, a price-to-earnings ratio of 12.85, a P/E/G ratio of 0.45 and a beta of 1.12.
PulteGroup declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, January 30th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the construction company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.
The business also recently disclosed 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. This represents a $0.36 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend is Thursday, March 15th. PulteGroup’s dividend payout ratio (DPR) is presently 25.00%.
In other PulteGroup news, Director Patrick J. Oleary sold 8,677 shares of the firm’s 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 directly owns 90,687 shares in the company, valued at approximately $2,723,330.61. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.71% of the stock is currently owned by company insiders.
Several analysts have recently commented on the stock. Royal Bank of Canada reaffirmed a “buy” rating and set a $35.00 price objective on shares of PulteGroup in a research report on Monday. Mizuho reaffirmed a “buy” rating and set a $36.00 price objective on shares of PulteGroup in a research report on Thursday, March 15th. Zacks Investment Research downgraded shares of PulteGroup from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. B. Riley reaffirmed a “hold” rating and set a $36.00 price objective on shares of PulteGroup in a research report on Wednesday, January 31st. Finally, Credit Suisse Group raised shares of PulteGroup to a “buy” rating and set a $38.00 price objective for the company in a research report on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, eight have issued 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 a consensus price target of $33.62.
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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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