Trexquant Investment LP Takes $1.98 Million Position in PulteGroup, Inc. (NYSE:PHM)

Trexquant Investment LP purchased a new stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,148 shares of the construction company's stock, valued at approximately $1,976,000.

A number of other hedge funds and other institutional investors have also modified their holdings of PHM. Norges Bank bought a new position in PulteGroup in the 4th quarter valued at $427,562,000. Amundi increased its position in PulteGroup by 77.9% in the fourth quarter. Amundi now owns 1,636,562 shares of the construction company's stock worth $180,775,000 after purchasing an additional 716,716 shares during the period. Franklin Resources Inc. raised its holdings in PulteGroup by 6.1% during the 4th quarter. Franklin Resources Inc. now owns 11,937,866 shares of the construction company's stock worth $1,300,034,000 after purchasing an additional 683,592 shares during the last quarter. Lord Abbett & CO. LLC lifted its position in PulteGroup by 3,118.4% during the 3rd quarter. Lord Abbett & CO. LLC now owns 376,717 shares of the construction company's stock valued at $54,070,000 after purchasing an additional 365,012 shares during the period. Finally, Tidal Investments LLC boosted its stake in shares of PulteGroup by 837.9% in the 3rd quarter. Tidal Investments LLC now owns 173,727 shares of the construction company's stock valued at $24,935,000 after purchasing an additional 155,204 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company's stock.

PulteGroup Stock Up 0.7 %

PHM stock traded up $0.70 during trading hours on Monday, reaching $95.23. 84,766 shares of the stock were exchanged, compared to its average volume of 1,982,925. The company has a market cap of $19.28 billion, a price-to-earnings ratio of 6.47, a PEG ratio of 0.29 and a beta of 1.44. The firm's 50-day moving average is $103.40 and its 200-day moving average is $117.74. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month 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.

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PulteGroup (NYSE:PHM - Get Free Report) last released its 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%. On average, equities research analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Dividend Announcement

The firm also recently declared 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 of this dividend was Tuesday, March 18th. This represents a $0.88 annualized dividend and a yield of 0.92%. PulteGroup's payout ratio is currently 5.98%.

PulteGroup declared that its Board of Directors has approved a share repurchase plan on Thursday, January 30th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the construction company to buy up to 6.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wells Fargo & Company cut their price objective on shares of PulteGroup from $140.00 to $120.00 and set an "overweight" rating on the stock in a report on Monday. UBS Group raised their price target on PulteGroup from $148.00 to $151.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. Seaport Res Ptn upgraded PulteGroup from a "strong sell" rating to a "hold" rating in a report on Thursday, March 6th. Oppenheimer reduced their target price on PulteGroup from $165.00 to $150.00 and set an "outperform" rating on the stock in a report on Friday, January 31st. Finally, Bank of America lowered their price target on PulteGroup from $135.00 to $134.00 and set a "buy" rating for the company in a research note on Monday, January 27th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, PulteGroup has a consensus rating of "Moderate Buy" and an average target price of $138.21.

Insiders Place Their Bets

In other news, VP Brien P. O'meara sold 3,500 shares of the company's stock in a transaction that occurred 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 owns 11,372 shares in the company, valued at $1,209,980.80. This represents a 23.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Brian P. Anderson sold 2,500 shares of the business'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 owns 56,617 shares in the company, valued at approximately $6,026,879.65. The trade was a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,191 shares of company stock valued at $2,256,367 in the last three months. 0.76% of the stock is currently owned by corporate insiders.

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.