Myriad Asset Management US LP Takes Position in PulteGroup, Inc. (NYSE:PHM)

Myriad Asset Management US LP acquired a new position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 21,064 shares of the construction company's stock, valued at approximately $2,294,000. PulteGroup makes up approximately 1.5% of Myriad Asset Management US LP's investment portfolio, making the stock its 12th largest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Fortitude Family Office LLC grew its holdings in shares of PulteGroup by 115.1% in the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company's stock valued at $27,000 after acquiring an additional 99 shares in the last quarter. Transcendent Capital Group LLC purchased a new stake in shares of PulteGroup during the third quarter worth $29,000. Hager Investment Management Services LLC purchased a new stake in shares of PulteGroup in the fourth quarter worth $29,000. R Squared Ltd purchased a new stake in shares of PulteGroup in the fourth quarter worth $39,000. Finally, JNBA Financial Advisors purchased a new stake in shares of PulteGroup in the third quarter worth $43,000. 89.90% of the stock is owned by institutional investors.

PulteGroup Stock Performance

NYSE PHM traded down $0.79 on Wednesday, reaching $104.81. 2,294,614 shares of the company's stock traded hands, compared to its average volume of 2,250,991. PulteGroup, Inc. has a fifty-two week low of $100.24 and a fifty-two week high of $149.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a 50 day moving average price of $111.82 and a 200-day moving average price of $125.77. The firm has a market cap of $21.22 billion, a price-to-earnings ratio of 7.13, a P/E/G ratio of 0.29 and a beta of 1.68.

PulteGroup (NYSE:PHM - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.22. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. Equities research analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.84%. The ex-dividend date is Tuesday, March 18th. PulteGroup's payout ratio is currently 5.98%.

PulteGroup declared that its Board of Directors has authorized a share repurchase plan on Thursday, January 30th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the construction company to purchase up to 6.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PHM shares. Citigroup reduced their target price on PulteGroup from $146.00 to $119.00 and set a "neutral" rating on the stock in a research note on Monday, January 6th. Barclays cut their target price on PulteGroup from $125.00 to $117.00 and set an "equal weight" rating on the stock in a research note on Friday, January 31st. StockNews.com lowered shares of PulteGroup from a "buy" rating to a "hold" rating in a report on Wednesday, December 11th. Wedbush restated an "outperform" rating and issued a $135.00 price objective on shares of PulteGroup in a report on Friday, January 31st. Finally, The Goldman Sachs Group dropped their price target on PulteGroup from $140.00 to $124.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $140.86.

Insider Buying and Selling at PulteGroup

In other news, Director Brian P. Anderson sold 2,500 shares of the firm's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $106.45, for a total value of $266,125.00. Following the completion of the sale, the director now owns 56,617 shares in the company, valued at approximately $6,026,879.65. This trade represents a 4.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Todd N. Sheldon sold 15,191 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $106.50, for a total transaction of $1,617,841.50. Following the completion of the transaction, the executive vice president now owns 74,758 shares of the company's stock, valued at $7,961,727. This represents a 16.89 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,191 shares of company stock valued at $2,256,367. Insiders own 0.75% of the company's stock.

PulteGroup Profile

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. It acquires and develops land primarily for residential purposes; and constructs housing on such land. The company also offers various home designs, including single-family detached, townhomes, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, John Wieland Homes and Neighborhoods, and American West brand names.