International Assets Investment Management LLC Invests $6.11 Million in PulteGroup, Inc. (NYSE:PHM)

International Assets Investment Management LLC purchased a new position in shares of PulteGroup, Inc. (NYSE:PHM) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 59,205 shares of the construction company’s stock, valued at approximately $6,111,000.

A number of other institutional investors and hedge funds have also made changes to their positions in PHM. Clear Street Markets LLC grew its stake in shares of PulteGroup by 90.9% during the 1st quarter. Clear Street Markets LLC now owns 441 shares of the construction company’s stock worth $26,000 after purchasing an additional 210 shares during the period. Coppell Advisory Solutions Corp. purchased a new stake in shares of PulteGroup in the 4th quarter worth about $26,000. Coppell Advisory Solutions LLC purchased a new stake in shares of PulteGroup in the 2nd quarter worth about $29,000. Arlington Trust Co LLC purchased a new stake in shares of PulteGroup in the 3rd quarter worth about $33,000. Finally, Baystate Wealth Management LLC boosted its position in shares of PulteGroup by 186.5% in the 3rd quarter. Baystate Wealth Management LLC now owns 490 shares of the construction company’s stock worth $36,000 after buying an additional 319 shares in the last quarter. 89.90% of the stock is owned by institutional investors and hedge funds.

PulteGroup Trading Up 0.3 %

Shares of PHM stock opened at $110.89 on Monday. The firm has a market cap of $23.40 billion, a P/E ratio of 9.45, a PEG ratio of 0.54 and a beta of 1.56. PulteGroup, Inc. has a 1-year low of $59.19 and a 1-year high of $121.07. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.86 and a quick ratio of 0.86. The firm’s 50-day simple moving average is $110.15 and its 200-day simple moving average is $97.24.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, January 30th. The construction company reported $3.28 earnings per share for the quarter, topping the consensus estimate of $3.21 by $0.07. The business had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.47 billion. PulteGroup had a net margin of 16.20% and a return on equity of 25.97%. The company’s revenue was down 15.5% on a year-over-year basis. During the same period in the prior year, the firm posted $3.63 EPS. As a group, equities analysts forecast that PulteGroup, Inc. will post 11.79 EPS for the current year.

PulteGroup announced that its board has initiated a share buyback program on Tuesday, January 30th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to buy up to 6.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

PulteGroup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Friday, March 15th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend was Thursday, March 14th. PulteGroup’s dividend payout ratio (DPR) is presently 6.81%.

Insider Buying and Selling

In related news, VP Brien P. O’meara sold 2,000 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total transaction of $206,180.00. Following the completion of the sale, the vice president now owns 15,389 shares of the company’s stock, valued at approximately $1,586,452.01. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.83% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Wedbush reiterated a “neutral” rating and issued a $85.00 price objective on shares of PulteGroup in a research report on Wednesday, January 31st. The Goldman Sachs Group boosted their price objective on shares of PulteGroup from $91.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, January 11th. StockNews.com lowered shares of PulteGroup from a “buy” rating to a “hold” rating in a research report on Saturday, March 2nd. Citigroup upped their target price on shares of PulteGroup from $116.00 to $127.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Finally, Barclays upped their target price on shares of PulteGroup from $126.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $106.47.

PulteGroup Company 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.