4,143 Shares in PulteGroup, Inc. (NYSE:PHM) Purchased by Power Corp of Canada

Power Corp of Canada acquired a new position in PulteGroup, Inc. (NYSE:PHM – Get Rating) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,143 shares of the construction company’s stock, valued at approximately $155,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Private Trust Co. NA purchased a new stake in PulteGroup in the 2nd quarter worth about $29,000. Zions Bancorporation N.A. increased its position in shares of PulteGroup by 115.2% during the first quarter. Zions Bancorporation N.A. now owns 1,595 shares of the construction company’s stock worth $67,000 after acquiring an additional 854 shares during the period. Advisors Asset Management Inc. increased its position in shares of PulteGroup by 17.6% during the first quarter. Advisors Asset Management Inc. now owns 1,749 shares of the construction company’s stock worth $73,000 after acquiring an additional 262 shares during the period. Forsta AP Fonden purchased a new position in shares of PulteGroup during the third quarter worth approximately $79,000. Finally, Guardian Wealth Advisors LLC purchased a new position in PulteGroup during the third quarter valued at approximately $83,000. 88.07% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Price Performance

Shares of PHM opened at $54.62 on Thursday. PulteGroup, Inc. has a fifty-two week low of $35.03 and a fifty-two week high of $60.89. The firm’s 50 day moving average price is $53.63 and its 200 day moving average price is $45.87. The company has a market cap of $12.32 billion, a P/E ratio of 4.92, a PEG ratio of 0.46 and a beta of 1.31. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.23.

PulteGroup (NYSE:PHM – Get Rating) last announced its quarterly earnings data on Tuesday, January 31st. The construction company reported $3.63 EPS for the quarter, beating analysts’ consensus estimates of $2.88 by $0.75. PulteGroup had a net margin of 16.13% and a return on equity of 31.85%. The company had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $4.59 billion. During the same period in the prior year, the firm posted $2.51 EPS. The company’s quarterly revenue was up 18.7% compared to the same quarter last year. On average, research analysts forecast that PulteGroup, Inc. will post 7.34 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 4th. Shareholders of record on Monday, March 20th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Friday, March 17th. PulteGroup’s dividend payout ratio is presently 5.77%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PHM. Royal Bank of Canada lifted their price objective on shares of PulteGroup from $46.00 to $54.00 and gave the company a “sector perform” rating in a report on Wednesday, February 1st. Wedbush raised their target price on shares of PulteGroup from $47.00 to $57.00 and gave the company a “neutral” rating in a research note on Wednesday, February 1st. JPMorgan Chase & Co. raised their target price on shares of PulteGroup from $65.00 to $74.00 and gave the company an “overweight” rating in a research note on Thursday, February 2nd. Bank of America upgraded shares of PulteGroup from a “neutral” rating to a “buy” rating and raised their target price for the company from $46.00 to $60.00 in a research note on Wednesday, January 11th. Finally, BTIG Research lifted their price objective on shares of PulteGroup from $61.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, February 1st. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, PulteGroup currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.69.

Insider Buying and Selling at PulteGroup

In other PulteGroup news, VP Brien P. O’meara sold 4,924 shares of the stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $60.00, for a total value of $295,440.00. Following the sale, the vice president now directly owns 17,308 shares of the company’s stock, valued at approximately $1,038,480. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Todd N. Sheldon sold 15,998 shares of the stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $53.83, for a total value of $861,172.34. Following the transaction, the executive vice president now directly owns 82,339 shares of the company’s stock, valued at approximately $4,432,308.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Brien P. O’meara sold 4,924 shares of the stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $60.00, for a total transaction of $295,440.00. Following the completion of the transaction, the vice president now directly owns 17,308 shares in the company, valued at $1,038,480. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,739 shares of company stock valued at $2,845,149. Insiders own 0.71% of the company’s stock.

PulteGroup Company Profile

(Get Rating)

PulteGroup, Inc engages in the homebuilding business. The firm is also involved in mortgage banking and title and insurance brokerage operations. It operates through the Homebuilding and Financial services business segments. The Homebuilding segment includes operations from Connecticut, Maryland, Massachusetts, New Jersey, New York, Pennsylvania, Virginia, Georgia, North Carolina, South Carolina, Tennessee, Florida, Illinois, Indiana, Kentucky, Michigan, Minnesota, Missouri, Ohio, Texas, Arizona, California, Nevada, New Mexico, and Washington.