Geode Capital Management LLC raised its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 1.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,120,878 shares of the construction company's stock after purchasing an additional 64,947 shares during the period. Geode Capital Management LLC owned 2.50% of PulteGroup worth $556,465,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Diametric Capital LP grew its stake in PulteGroup by 33.4% in the 4th quarter. Diametric Capital LP now owns 3,554 shares of the construction company's stock worth $387,000 after buying an additional 890 shares in the last quarter. Franklin Resources Inc. grew its position in PulteGroup by 6.1% in the fourth quarter. Franklin Resources Inc. now owns 11,937,866 shares of the construction company's stock worth $1,300,034,000 after acquiring an additional 683,592 shares in the last quarter. B. Metzler seel. Sohn & Co. AG increased its stake in PulteGroup by 193.7% in the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 16,122 shares of the construction company's stock valued at $1,756,000 after acquiring an additional 10,632 shares during the last quarter. Summit Financial LLC increased its stake in PulteGroup by 22.6% in the fourth quarter. Summit Financial LLC now owns 1,869 shares of the construction company's stock valued at $204,000 after acquiring an additional 344 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. raised its position in PulteGroup by 23.4% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 246,719 shares of the construction company's stock valued at $26,868,000 after purchasing an additional 46,719 shares in the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research analysts have commented on PHM shares. Wells Fargo & Company reduced their price target on shares of PulteGroup from $165.00 to $140.00 and set an "overweight" rating on the stock in a research report on Tuesday, December 17th. StockNews.com cut shares of PulteGroup from a "buy" rating to a "hold" rating in a research report on Wednesday, December 11th. Seaport Res Ptn raised shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research note on Thursday, March 6th. Bank of America reduced their price objective on PulteGroup from $135.00 to $134.00 and set a "buy" rating on the stock in a research note on Monday, January 27th. Finally, Wedbush restated an "outperform" rating and set a $135.00 target price on shares of PulteGroup in a report on Friday, January 31st. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, PulteGroup currently has an average rating of "Moderate Buy" and a consensus target price of $139.64.
Get Our Latest Stock Report on PHM
Insider Transactions at PulteGroup
In other PulteGroup news, EVP Todd N. Sheldon sold 15,191 shares of PulteGroup stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $106.50, for a total transaction of $1,617,841.50. Following the completion of the transaction, the executive vice president now directly owns 74,758 shares of the company's stock, valued at $7,961,727. The trade was a 16.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Brien P. O'meara sold 3,500 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $106.40, for a total transaction of $372,400.00. Following the completion of the sale, the vice president now directly owns 11,372 shares in the company, valued at approximately $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 three months. Insiders own 0.76% of the company's stock.
PulteGroup Price Performance
Shares of PulteGroup stock traded up $5.02 during trading on Wednesday, reaching $97.04. 3,324,397 shares of the stock traded hands, compared to its average volume of 1,982,256. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market capitalization of $19.65 billion, a price-to-earnings ratio of 6.60, a P/E/G ratio of 0.29 and a beta of 1.44. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $149.47. The business has a fifty day simple moving average of $104.03 and a two-hundred day simple moving average of $118.56.
PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 earnings per share (EPS) for the quarter, topping 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%. Sell-side analysts expect that PulteGroup, Inc. will post 12.32 EPS for the current year.
PulteGroup Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th were paid a $0.22 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.91%. PulteGroup's payout ratio is currently 5.98%.
PulteGroup announced that its board has authorized a stock repurchase program on Thursday, January 30th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to purchase up to 6.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its shares are undervalued.
About PulteGroup
(
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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