AlphaQuest LLC Raises Holdings in PulteGroup, Inc. (NYSE:PHM)

AlphaQuest LLC raised its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 71.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,748 shares of the construction company's stock after purchasing an additional 6,992 shares during the period. AlphaQuest LLC's holdings in PulteGroup were worth $1,824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC purchased a new position in PulteGroup in the third quarter valued at about $29,000. Hager Investment Management Services LLC purchased a new stake in shares of PulteGroup during the fourth quarter worth about $29,000. Fortitude Family Office LLC grew its stake in shares of PulteGroup by 74.1% during the fourth quarter. Fortitude Family Office LLC now owns 322 shares of the construction company's stock worth $35,000 after acquiring an additional 137 shares during the last quarter. R Squared Ltd purchased a new stake in shares of PulteGroup during the fourth quarter worth about $39,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of PulteGroup by 41.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 444 shares of the construction company's stock worth $48,000 after acquiring an additional 131 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company's stock.

PulteGroup Stock Performance

NYSE:PHM traded down $2.33 during trading hours on Wednesday, reaching $103.51. The company had a trading volume of 2,672,525 shares, compared to its average volume of 1,867,126. PulteGroup, Inc. has a 1-year low of $100.54 and a 1-year high of $149.47. The firm has a market cap of $20.96 billion, a PE ratio of 7.04, a price-to-earnings-growth ratio of 0.29 and a beta of 1.71. The business's 50 day moving average price is $109.29 and its 200-day moving average price is $123.56. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86.

Remove Ads

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

PulteGroup announced that its Board of Directors has approved a stock buyback program on Thursday, January 30th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the construction company to purchase up to 6.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

PulteGroup Announces Dividend

The firm also recently announced 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 0.85%. The ex-dividend date of this dividend is Tuesday, March 18th. PulteGroup's payout ratio is 5.98%.

Insider Transactions at PulteGroup

In other news, Director Brian P. Anderson sold 2,500 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $106.45, for a total transaction of $266,125.00. Following the completion of the transaction, the director now directly owns 56,617 shares of the company's stock, valued at $6,026,879.65. This represents a 4.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Brien P. O'meara sold 3,500 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $106.40, for a total value of $372,400.00. Following the transaction, the vice president now directly owns 11,372 shares of the company's stock, valued at approximately $1,209,980.80. The trade was a 23.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,191 shares of company stock valued at $2,256,367 in the last three months. 0.83% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PHM. JPMorgan Chase & Co. dropped their price target on PulteGroup from $162.00 to $155.00 and set an "overweight" rating on the stock in a research note on Friday, December 13th. Citigroup dropped their price target on PulteGroup from $146.00 to $119.00 and set a "neutral" rating on the stock in a research note on Monday, January 6th. 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 note on Tuesday, January 14th. UBS Group lifted their target price on PulteGroup from $148.00 to $151.00 and gave the stock a "buy" rating in a report on Friday, January 31st. Finally, Bank of America decreased their target price on PulteGroup from $135.00 to $134.00 and set a "buy" rating for the company in a report on Monday, January 27th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus 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.