Grantham Mayo Van Otterloo & Co. LLC increased its position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 68.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 279,792 shares of the construction company's stock after purchasing an additional 113,772 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned approximately 0.14% of PulteGroup worth $30,469,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Hager Investment Management Services LLC bought a new stake in shares of PulteGroup during the fourth quarter worth $29,000. Fortitude Family Office LLC raised its holdings in shares of PulteGroup by 74.1% in the fourth quarter. Fortitude Family Office LLC now owns 322 shares of the construction company's stock valued at $35,000 after buying an additional 137 shares during the last quarter. R Squared Ltd acquired a new position in PulteGroup during the 4th quarter worth about $39,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in PulteGroup by 41.9% during the 4th 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. Finally, Oakworth Capital Inc. increased its position in PulteGroup by 642.2% in the 4th quarter. Oakworth Capital Inc. now owns 475 shares of the construction company's stock valued at $52,000 after acquiring an additional 411 shares in the last quarter. 89.90% of the stock is owned by institutional investors.
PulteGroup Trading Down 0.8 %
PHM traded down $0.75 during mid-day trading on Friday, hitting $92.93. The stock had a trading volume of 1,016,244 shares, compared to its average volume of 1,979,346. The stock's fifty day simple moving average is $103.72 and its 200-day simple moving average is $118.21. The firm has a market capitalization of $18.81 billion, a price-to-earnings ratio of 6.31, a price-to-earnings-growth ratio of 0.29 and a beta of 1.44. PulteGroup, Inc. has a 1-year low of $88.07 and a 1-year high of $149.47. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86.
PulteGroup (NYSE:PHM - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, topping 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, research analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.
PulteGroup Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend was Tuesday, March 18th. PulteGroup's dividend payout ratio (DPR) is presently 5.98%.
PulteGroup declared that its board has authorized a stock repurchase program on Thursday, January 30th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the construction company to repurchase up to 6.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.
Analyst Upgrades and Downgrades
Several research firms have recently commented on PHM. UBS Group increased their price target on shares of PulteGroup from $148.00 to $151.00 and gave the company a "buy" rating in a research note on Friday, January 31st. The Goldman Sachs Group decreased their price objective on PulteGroup from $140.00 to $124.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 14th. Barclays dropped their target price on PulteGroup from $117.00 to $100.00 and set an "equal weight" rating for the company in a research report on Tuesday. Citigroup decreased their price target on PulteGroup from $146.00 to $119.00 and set a "neutral" rating on the stock in a report on Monday, January 6th. Finally, Bank of America lowered their price objective on PulteGroup from $135.00 to $134.00 and set a "buy" rating for the company in a research report on Monday, January 27th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, PulteGroup presently has an average rating of "Moderate Buy" and a consensus target price of $139.64.
View Our Latest Stock Analysis on PulteGroup
Insider Activity at PulteGroup
In other PulteGroup news, Director Brian P. Anderson sold 2,500 shares of PulteGroup stock in a transaction that occurred on Monday, February 10th. The shares were 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 of the company's stock, valued at approximately $6,026,879.65. The trade was a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Brien P. O'meara sold 3,500 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $106.40, for a total transaction of $372,400.00. Following the sale, the vice president now directly owns 11,372 shares of the company's stock, valued at $1,209,980.80. This represents a 23.53 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 21,191 shares of company stock worth $2,256,367. 0.76% of the stock is owned by company insiders.
About PulteGroup
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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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