denkapparat Operations GmbH acquired a new stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,718 shares of the construction company's stock, valued at approximately $405,000.
Several other hedge funds have also recently made changes to their positions in the company. Norges Bank acquired a new stake in PulteGroup during the 4th quarter valued at approximately $427,562,000. Amundi raised its holdings in shares of PulteGroup by 77.9% during the fourth quarter. Amundi now owns 1,636,562 shares of the construction company's stock worth $180,775,000 after purchasing an additional 716,716 shares during the last quarter. Franklin Resources Inc. lifted its position in PulteGroup by 5.5% during the third quarter. Franklin Resources Inc. now owns 11,254,274 shares of the construction company's stock valued at $1,647,364,000 after purchasing an additional 585,735 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in PulteGroup by 357.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 521,958 shares of the construction company's stock valued at $74,917,000 after purchasing an additional 407,764 shares during the last quarter. Finally, Lord Abbett & CO. LLC grew its position in PulteGroup by 3,118.4% during the 3rd quarter. Lord Abbett & CO. LLC now owns 376,717 shares of the construction company's stock worth $54,070,000 after purchasing an additional 365,012 shares during the period. 89.90% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at PulteGroup
In related news, Director Brian P. Anderson sold 2,500 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $106.45, for a total value of $266,125.00. Following the completion of the transaction, the director now directly owns 56,617 shares in the company, valued at approximately $6,026,879.65. This represents a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Brien P. O'meara sold 3,500 shares of PulteGroup stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $106.40, for a total value of $372,400.00. Following the completion of the sale, the vice president now owns 11,372 shares in the company, valued at $1,209,980.80. This represents a 23.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,191 shares of company stock worth $2,256,367 in the last quarter. Company insiders own 0.76% of the company's stock.
Analyst Ratings Changes
PHM has been the topic of a number of recent research reports. Wedbush restated an "outperform" rating and issued a $135.00 target price on shares of PulteGroup in a research note on Friday, January 31st. Oppenheimer dropped their price objective on shares of PulteGroup from $165.00 to $150.00 and set an "outperform" rating on the stock in a research note on Friday, January 31st. Seaport Res Ptn upgraded shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 6th. JPMorgan Chase & Co. lowered their target price on shares of PulteGroup from $162.00 to $155.00 and set an "overweight" rating on the stock in a research note on Friday, December 13th. Finally, UBS Group upped their price target on PulteGroup from $148.00 to $151.00 and gave the stock a "buy" rating in a report on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $140.86.
View Our Latest Stock Analysis on PHM
PulteGroup Price Performance
Shares of NYSE PHM traded up $0.30 during mid-day trading on Tuesday, reaching $103.10. The company's stock had a trading volume of 404,184 shares, compared to its average volume of 1,943,327. The stock has a 50-day moving average of $107.30 and a two-hundred day moving average of $121.01. 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 market capitalization of $20.87 billion, a P/E ratio of 7.01, a P/E/G ratio of 0.29 and a beta of 1.71. PulteGroup, Inc. has a 1-year low of $99.58 and a 1-year high of $149.47.
PulteGroup (NYSE:PHM - Get Free Report) last issued its earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.28 by $0.22. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. On average, equities research analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.
PulteGroup declared that its board has approved a stock buyback plan on Thursday, January 30th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to buy up to 6.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its stock is undervalued.
PulteGroup Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Tuesday, March 18th. PulteGroup's dividend payout ratio (DPR) is presently 5.98%.
PulteGroup Company Profile
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Free Report)
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.
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