Bryce Point Capital LLC Invests $444,000 in PulteGroup, Inc. (NYSE:PHM)

Bryce Point Capital LLC acquired a new position in PulteGroup, Inc. (NYSE:PHM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,080 shares of the construction company's stock, valued at approximately $444,000.

Several other institutional investors and hedge funds have also recently modified their holdings of PHM. Huntington National Bank increased its holdings in shares of PulteGroup by 1.2% in the 4th quarter. Huntington National Bank now owns 10,273 shares of the construction company's stock worth $1,119,000 after buying an additional 118 shares during the last quarter. Meeder Advisory Services Inc. boosted its stake in PulteGroup by 14.0% during the fourth quarter. Meeder Advisory Services Inc. now owns 4,995 shares of the construction company's stock worth $544,000 after buying an additional 614 shares during the period. Trexquant Investment LP bought a new position in PulteGroup during the fourth quarter valued at $1,976,000. Headlands Technologies LLC purchased a new position in shares of PulteGroup during the 4th quarter worth about $392,000. Finally, Geode Capital Management LLC grew its holdings in PulteGroup by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 5,120,878 shares of the construction company's stock valued at $556,465,000 after purchasing an additional 64,947 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Stock Down 4.9 %

NYSE PHM traded down $4.74 during trading on Thursday, hitting $92.44. 603,154 shares of the company traded hands, compared to its average volume of 1,977,157. The company has a market capitalization of $18.71 billion, a P/E ratio of 6.27, a PEG ratio of 0.29 and a beta of 1.44. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $149.47. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $104.03 and a 200 day simple moving average of $118.56.

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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 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%. As a group, sell-side analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup declared that its board has approved a stock repurchase program 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 programs are usually a sign that the company's board believes its stock is undervalued.

PulteGroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date was Tuesday, March 18th. PulteGroup's dividend payout ratio (DPR) is presently 5.98%.

Insiders Place Their Bets

In other PulteGroup news, EVP Todd N. Sheldon sold 15,191 shares of the business's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $106.50, for a total value of $1,617,841.50. Following the transaction, the executive vice president now owns 74,758 shares of the company's stock, valued at approximately $7,961,727. The trade was a 16.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 transaction, the vice president now owns 11,372 shares of the company's stock, valued at approximately $1,209,980.80. This trade represents 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 over the last ninety days. 0.76% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PHM has been the subject of several research analyst reports. The Goldman Sachs Group decreased their target price on PulteGroup from $140.00 to $124.00 and set a "neutral" rating for the company in a research report on Tuesday, January 14th. Citigroup reduced their target price on shares of PulteGroup from $146.00 to $119.00 and set a "neutral" rating for the company in a report on Monday, January 6th. Barclays cut their price target on shares of PulteGroup from $117.00 to $100.00 and set an "equal weight" rating on the stock in a research note on Tuesday. Seaport Res Ptn raised PulteGroup from a "strong sell" rating to a "hold" rating in a report on Thursday, March 6th. Finally, Wells Fargo & Company decreased their target price on shares of PulteGroup from $165.00 to $140.00 and set an "overweight" rating for the company in a research report on Tuesday, December 17th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $139.64.

About PulteGroup

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.