Cerity Partners LLC Purchases 4,798 Shares of PulteGroup, Inc. (NYSE:PHM)

Cerity Partners LLC boosted its position in PulteGroup, Inc. (NYSE:PHM) by 34.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,560 shares of the construction company’s stock after acquiring an additional 4,798 shares during the period. Cerity Partners LLC’s holdings in PulteGroup were worth $1,916,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PHM. American Century Companies Inc. boosted its holdings in PulteGroup by 9.5% in the first quarter. American Century Companies Inc. now owns 55,196 shares of the construction company’s stock valued at $2,313,000 after acquiring an additional 4,799 shares during the last quarter. Cetera Advisor Networks LLC bought a new position in PulteGroup in the first quarter valued at about $221,000. PNC Financial Services Group Inc. boosted its holdings in PulteGroup by 1.7% in the first quarter. PNC Financial Services Group Inc. now owns 22,505 shares of the construction company’s stock valued at $945,000 after acquiring an additional 382 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in PulteGroup by 11.1% in the first quarter. Acadian Asset Management LLC now owns 4,487 shares of the construction company’s stock valued at $188,000 after acquiring an additional 449 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its holdings in PulteGroup by 26.7% in the first quarter. MetLife Investment Management LLC now owns 70,856 shares of the construction company’s stock valued at $2,969,000 after acquiring an additional 14,918 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.

PulteGroup Trading Down 0.5 %

NYSE PHM opened at $105.45 on Friday. The firm has a market cap of $22.25 billion, a P/E ratio of 8.98, a P/E/G ratio of 0.51 and a beta of 1.56. 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 stock’s 50-day moving average is $110.49 and its 200-day moving average is $98.05. PulteGroup, Inc. has a one year low of $62.18 and a one year high of $121.07.

PulteGroup (NYSE:PHM) last announced its earnings results on Tuesday, January 30th. The construction company reported $3.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.21 by $0.07. PulteGroup had a return on equity of 25.97% and a net margin of 16.20%. The business had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.47 billion. During the same quarter last year, the firm earned $3.63 EPS. PulteGroup’s revenue for the quarter was down 15.5% compared to the same quarter last year. Sell-side analysts anticipate that PulteGroup, Inc. will post 11.79 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Friday, March 15th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend was Thursday, March 14th. PulteGroup’s dividend payout ratio is presently 6.81%.

PulteGroup declared that its board has authorized a share buyback plan on Tuesday, January 30th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the construction company to purchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

PHM has been the topic of several recent research reports. Citigroup raised their price target on PulteGroup from $116.00 to $127.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Raymond James raised their target price 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 target price on PulteGroup from $103.00 to $106.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 31st. Barclays raised their target price on PulteGroup from $126.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Finally, StockNews.com cut PulteGroup from a “buy” rating to a “hold” rating in a report on Saturday, March 2nd. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $106.47.

Insider Activity at PulteGroup

In related news, VP Brien P. O’meara sold 2,000 shares of PulteGroup stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $103.09, for a total value 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 legal filing with the SEC, which can be accessed through this link. 0.83% of the stock is owned by 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.