Hsbc Holdings PLC Grows Stock Position in PulteGroup, Inc. (NYSE:PHM)

Hsbc Holdings PLC increased its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 14.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,376,331 shares of the construction company's stock after acquiring an additional 170,498 shares during the period. Hsbc Holdings PLC owned about 0.67% of PulteGroup worth $149,925,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PHM. Morse Asset Management Inc grew its holdings in shares of PulteGroup by 26.2% in the third quarter. Morse Asset Management Inc now owns 9,735 shares of the construction company's stock worth $1,397,000 after purchasing an additional 2,020 shares during the last quarter. Aldebaran Financial Inc. grew its holdings in PulteGroup by 99.1% in the 3rd quarter. Aldebaran Financial Inc. now owns 5,365 shares of the construction company's stock worth $770,000 after acquiring an additional 2,670 shares during the last quarter. Pine Valley Investments Ltd Liability Co bought a new stake in PulteGroup in the 3rd quarter worth $234,000. World Investment Advisors LLC increased its position in shares of PulteGroup by 21.8% in the third quarter. World Investment Advisors LLC now owns 9,515 shares of the construction company's stock valued at $1,366,000 after acquiring an additional 1,706 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of PulteGroup during the third quarter valued at about $732,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at PulteGroup

In other news, Director Brian P. Anderson sold 2,500 shares of the company's stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Brien P. O'meara sold 3,500 shares of PulteGroup stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $106.40, for a total value of $372,400.00. Following the completion of the sale, the vice president now owns 11,372 shares of the company's stock, valued at $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. In the last three months, insiders have sold 21,191 shares of company stock worth $2,256,367. Insiders own 0.76% of the company's stock.

PulteGroup Trading Up 8.3 %

PulteGroup stock opened at $100.82 on Wednesday. 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's fifty day simple moving average is $101.66 and its two-hundred day simple moving average is $115.60. The company has a market capitalization of $20.41 billion, a price-to-earnings ratio of 6.85, a price-to-earnings-growth ratio of 0.29 and a beta of 1.44.

PulteGroup (NYSE:PHM - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The construction company reported $2.57 EPS for the quarter, beating the consensus estimate of $2.47 by $0.10. The company had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.86 billion. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. During the same period in the prior year, the firm posted $3.10 EPS. As a group, equities analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

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

PulteGroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th were given a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.88 annualized dividend and a yield of 0.87%. PulteGroup's dividend payout ratio (DPR) is presently 5.98%.

Wall Street Analyst Weigh In

PHM has been the topic of a number of research analyst reports. Citigroup reduced 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. Seaport Res Ptn upgraded PulteGroup from a "strong sell" rating to a "hold" rating in a report on Thursday, March 6th. UBS Group lifted their price target on shares of PulteGroup from $148.00 to $151.00 and gave the company a "buy" rating in a report on Friday, January 31st. Wedbush restated an "outperform" rating and issued a $135.00 price objective on shares of PulteGroup in a report on Tuesday. Finally, Bank of America dropped their target price on shares of PulteGroup from $135.00 to $134.00 and set a "buy" rating for the company in a research report on Monday, January 27th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, PulteGroup currently has a consensus rating of "Moderate Buy" and a consensus price target of $138.21.

PulteGroup 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.

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