PulteGroup, Inc. (NYSE:PHM) Shares Bought by Bleakley Financial Group LLC

Bleakley Financial Group LLC raised its holdings in PulteGroup, Inc. (NYSE:PHM) by 15.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,374 shares of the construction company’s stock after buying an additional 445 shares during the period. Bleakley Financial Group LLC’s holdings in PulteGroup were worth $348,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Nordea Investment Management AB raised its stake in PulteGroup by 4.0% in the fourth quarter. Nordea Investment Management AB now owns 753,768 shares of the construction company’s stock valued at $78,030,000 after buying an additional 28,833 shares in the last quarter. Illinois Municipal Retirement Fund increased its position in shares of PulteGroup by 24.9% during the third quarter. Illinois Municipal Retirement Fund now owns 26,341 shares of the construction company’s stock worth $1,951,000 after purchasing an additional 5,257 shares in the last quarter. American Century Companies Inc. increased its position in shares of PulteGroup by 65.0% during the third quarter. American Century Companies Inc. now owns 224,978 shares of the construction company’s stock worth $16,660,000 after purchasing an additional 88,638 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of PulteGroup during the fourth quarter worth about $2,815,000. Finally, Covestor Ltd increased its position in shares of PulteGroup by 25.2% during the third quarter. Covestor Ltd now owns 2,517 shares of the construction company’s stock worth $186,000 after purchasing an additional 506 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Price Performance

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

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, January 30th. The construction company reported $3.28 EPS 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 return on equity of 25.97% and a net margin of 16.20%. The company’s quarterly revenue was down 15.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.63 EPS. Research analysts anticipate that PulteGroup, Inc. will post 11.79 earnings per share for the current year.

PulteGroup declared that its Board of Directors has initiated a stock buyback program on Tuesday, January 30th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the construction company to purchase up to 6.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

PulteGroup Dividend Announcement

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

Insider Transactions at PulteGroup

In other news, VP Brien P. O’meara sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $103.09, for a total transaction of $206,180.00. Following the sale, the vice president now owns 15,389 shares of the company’s stock, valued at approximately $1,586,452.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.75% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. UBS Group cut PulteGroup from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $93.00 to $120.00 in a research report on Thursday, January 4th. Citigroup lifted their target price on PulteGroup from $116.00 to $127.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Raymond James raised their price target on PulteGroup from $100.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Royal Bank of Canada raised their price target on PulteGroup from $103.00 to $106.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 31st. Finally, Wedbush reissued a “neutral” rating and set a $85.00 price target on shares of PulteGroup in a report on Wednesday, January 31st. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.