Lecap Asset Management Ltd. Purchases Shares of 20,728 PulteGroup, Inc. (NYSE:PHM)

Lecap Asset Management Ltd. purchased a new position in PulteGroup, Inc. (NYSE:PHM - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 20,728 shares of the construction company's stock, valued at approximately $2,257,000.

Other institutional investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC increased its position in PulteGroup by 115.1% in the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company's stock worth $27,000 after purchasing an additional 99 shares during the last quarter. Transcendent Capital Group LLC purchased a new stake in shares of PulteGroup during the 3rd quarter valued at about $29,000. Hager Investment Management Services LLC bought a new position in shares of PulteGroup in the 4th quarter valued at about $29,000. R Squared Ltd purchased a new position in PulteGroup in the fourth quarter worth about $39,000. Finally, JNBA Financial Advisors bought a new stake in PulteGroup during the third quarter worth approximately $43,000. 89.90% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Stock Up 0.7 %

NYSE:PHM traded up $0.76 during trading hours on Tuesday, reaching $107.33. The company's stock had a trading volume of 1,218,540 shares, compared to its average volume of 2,278,004. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.73 and a current ratio of 0.86. The company has a market capitalization of $21.73 billion, a P/E ratio of 7.30, a price-to-earnings-growth ratio of 0.29 and a beta of 1.68. The stock has a 50 day moving average price of $114.44 and a two-hundred day moving average price of $126.79. PulteGroup, Inc. has a 12 month low of $100.24 and a 12 month high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 earnings per share for the quarter, beating 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%. Equities analysts predict that PulteGroup, Inc. will post 12.43 EPS for the current fiscal year.

PulteGroup announced that its Board of Directors has authorized a share repurchase plan on Thursday, January 30th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 6.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

PulteGroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Tuesday, March 18th. PulteGroup's dividend payout ratio is currently 5.98%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PHM shares. BTIG Research raised their price objective on PulteGroup from $139.00 to $156.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Seaport Res Ptn cut shares of PulteGroup from a "hold" rating to a "strong sell" rating in a research report on Monday, January 27th. Wells Fargo & Company lowered their target price on shares of PulteGroup from $165.00 to $140.00 and set an "overweight" rating for the company in a report on Tuesday, December 17th. Oppenheimer reduced their price objective on shares of PulteGroup from $165.00 to $150.00 and set an "outperform" rating on the stock in a research report on Friday, January 31st. Finally, StockNews.com lowered PulteGroup from a "buy" rating to a "hold" rating in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, PulteGroup presently has an average rating of "Moderate Buy" and a consensus price target of $140.86.

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.