23,178 Shares in PulteGroup, Inc. (NYSE:PHM) Purchased by ABC Arbitrage SA

ABC Arbitrage SA purchased a new stake in PulteGroup, Inc. (NYSE:PHM - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 23,178 shares of the construction company's stock, valued at approximately $2,524,000.

Other hedge funds have also added to or reduced their stakes in the company. Logan Capital Management Inc. lifted its holdings in shares of PulteGroup by 67.7% in the third quarter. Logan Capital Management Inc. now owns 14,797 shares of the construction company's stock valued at $2,124,000 after purchasing an additional 5,976 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in PulteGroup by 38.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 121,299 shares of the construction company's stock valued at $17,410,000 after acquiring an additional 33,472 shares in the last quarter. Trustmark National Bank Trust Department boosted its holdings in PulteGroup by 39.8% during the 3rd quarter. Trustmark National Bank Trust Department now owns 39,589 shares of the construction company's stock worth $5,682,000 after acquiring an additional 11,269 shares during the last quarter. Systematic Financial Management LP grew its stake in shares of PulteGroup by 3.9% in the 3rd quarter. Systematic Financial Management LP now owns 130,257 shares of the construction company's stock worth $18,696,000 after acquiring an additional 4,840 shares in the last quarter. Finally, Nilsine Partners LLC raised its holdings in shares of PulteGroup by 929.2% in the fourth quarter. Nilsine Partners LLC now owns 20,574 shares of the construction company's stock valued at $2,240,000 after purchasing an additional 18,575 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company's stock.

Insider Activity at PulteGroup

In other news, EVP Todd N. Sheldon sold 15,191 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $106.50, for a total transaction of $1,617,841.50. Following the completion of the sale, the executive vice president now owns 74,758 shares in the company, valued at approximately $7,961,727. This represents a 16.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Brian P. Anderson sold 2,500 shares of the business's stock in a transaction 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,191 shares of company stock worth $2,256,367. Company insiders own 0.75% of the company's stock.

PulteGroup Price Performance

PHM stock traded down $0.79 during mid-day trading on Wednesday, hitting $104.81. The company had a trading volume of 2,294,614 shares, compared to its average volume of 2,250,991. The company has a 50-day moving average price of $111.82 and a 200 day moving average price of $125.77. PulteGroup, Inc. has a 12-month low of $100.24 and a 12-month high of $149.47. The company has a market capitalization 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. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13.

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

PulteGroup declared that its board has initiated a share buyback program on Thursday, January 30th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the construction company to buy up to 6.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders 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 dividend yield of 0.84%. The ex-dividend date of this dividend is Tuesday, March 18th. PulteGroup's dividend payout ratio is presently 5.98%.

Analyst Ratings Changes

Several research analysts recently weighed in on PHM shares. The Goldman Sachs Group cut their price target on shares of PulteGroup from $140.00 to $124.00 and set a "neutral" rating on the stock in a report on Tuesday, January 14th. JPMorgan Chase & Co. cut their target price on PulteGroup from $162.00 to $155.00 and set an "overweight" rating on the stock in a research note on Friday, December 13th. Evercore ISI decreased their price target on PulteGroup from $198.00 to $195.00 and set an "outperform" rating for the company in a research report on Wednesday, October 23rd. BTIG Research lifted their price target on PulteGroup from $139.00 to $156.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Finally, UBS Group upped their price objective on PulteGroup from $148.00 to $151.00 and gave the company a "buy" rating in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $140.86.

PulteGroup Company 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.