Assetmark Inc. Buys 9,409 Shares of PulteGroup, Inc. (NYSE:PHM)

Assetmark Inc. lifted its stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 1.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 615,447 shares of the construction company's stock after acquiring an additional 9,409 shares during the period. Assetmark Inc. owned approximately 0.30% of PulteGroup worth $67,022,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Transcendent Capital Group LLC bought a new stake in shares of PulteGroup during the 3rd quarter worth $29,000. Hager Investment Management Services LLC bought a new stake in PulteGroup in the fourth quarter worth $29,000. Fortitude Family Office LLC lifted its stake in PulteGroup by 74.1% in the fourth quarter. Fortitude Family Office LLC now owns 322 shares of the construction company's stock worth $35,000 after purchasing an additional 137 shares during the last quarter. R Squared Ltd bought a new stake in PulteGroup in the fourth quarter worth $39,000. Finally, JNBA Financial Advisors bought a new stake in PulteGroup in the third quarter worth $43,000. 89.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their price target on shares of PulteGroup from $162.00 to $155.00 and set an "overweight" rating for the company in a research note on Friday, December 13th. Barclays lowered their price target on shares of PulteGroup from $125.00 to $117.00 and set an "equal weight" rating for the company in a research note on Friday, January 31st. Seaport Res Ptn raised shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research note on Thursday. The Goldman Sachs Group lowered their price target on shares of PulteGroup from $140.00 to $124.00 and set a "neutral" rating for the company in a research note on Tuesday, January 14th. Finally, Bank of America decreased their price objective on shares of PulteGroup from $135.00 to $134.00 and set a "buy" rating on the stock in a research report on Monday, January 27th. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, PulteGroup has an average rating of "Moderate Buy" and a consensus price target of $140.86.

Remove Ads

Insiders Place Their Bets

In other PulteGroup news, VP Brien P. O'meara sold 3,500 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $106.40, for a total value of $372,400.00. Following the sale, the vice president now owns 11,372 shares in the company, valued at approximately $1,209,980.80. This represents a 23.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian P. Anderson sold 2,500 shares of the company's stock in a transaction dated 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 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,191 shares of company stock worth $2,256,367. 0.75% of the stock is currently owned by company insiders.

PulteGroup Trading Down 0.2 %

Shares of NYSE PHM traded down $0.21 during midday trading on Friday, hitting $108.06. 2,461,674 shares of the company traded hands, compared to its average volume of 2,295,283. PulteGroup, Inc. has a 12-month low of $100.54 and a 12-month 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 $109.48 and a 200 day moving average price of $124.10. The firm has a market cap of $21.88 billion, a P/E ratio of 7.35, a P/E/G ratio of 0.29 and a beta of 1.71.

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 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%. As a group, analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Tuesday, March 18th. PulteGroup's dividend payout ratio (DPR) is presently 5.98%.

PulteGroup declared that its Board of Directors has initiated a stock repurchase program on Thursday, January 30th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the construction company to reacquire up to 6.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its stock is undervalued.

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.