P.R. Herzig & Co. Inc. trimmed its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 7.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,400 shares of the construction company’s stock after selling 5,300 shares during the period. PulteGroup accounts for about 4.0% of P.R. Herzig & Co. Inc.’s investment portfolio, making the stock its 7th biggest holding. P.R. Herzig & Co. Inc.’s holdings in PulteGroup were worth $2,075,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. State of Alaska Department of Revenue grew its holdings in PulteGroup by 60.6% during the fourth quarter. State of Alaska Department of Revenue now owns 37,510 shares of the construction company’s stock valued at $1,246,000 after purchasing an additional 14,150 shares during the period. Contravisory Investment Management Inc. acquired a new position in PulteGroup during the fourth quarter valued at approximately $304,000. Oakbrook Investments LLC grew its holdings in PulteGroup by 51.3% during the fourth quarter. Oakbrook Investments LLC now owns 20,280 shares of the construction company’s stock valued at $674,000 after purchasing an additional 6,880 shares during the period. Acadian Asset Management LLC acquired a new position in PulteGroup during the fourth quarter valued at approximately $6,032,000. Finally, Schwab Charles Investment Management Inc. grew its holdings in PulteGroup by 7.0% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,492,570 shares of the construction company’s stock valued at $49,628,000 after purchasing an additional 97,714 shares during the period. 82.96% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently issued reports on PHM shares. UBS Group boosted their price objective on shares of PulteGroup from $38.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Citigroup cut shares of PulteGroup from a “neutral” rating to a “sell” rating and set a $26.00 price target for the company. in a report on Friday, October 20th. Bank of America set a $34.00 price target on shares of PulteGroup and gave the company a “buy” rating in a report on Wednesday, October 25th. Buckingham Research cut shares of PulteGroup from a “buy” rating to a “neutral” rating and upped their price target for the company from $31.00 to $33.00 in a report on Sunday, November 26th. Finally, Zacks Investment Research cut shares of PulteGroup from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $32.38.
In other news, insider James R. Ellinghausen sold 67,490 shares of the stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $32.35, for a total value of $2,183,301.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Robert Oshaughnessy sold 92,800 shares of the stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $33.89, for a total transaction of $3,144,992.00. Following the completion of the transaction, the chief financial officer now directly owns 363,722 shares in the company, valued at $12,326,538.58. The disclosure for this sale can be found here. Corporate insiders own 0.71% of the company’s stock.
PulteGroup, Inc. (NYSE PHM) opened at $29.00 on Wednesday. PulteGroup, Inc. has a 1-year low of $21.13 and a 1-year high of $35.21. The company has a market cap of $8,224.41, a price-to-earnings ratio of 20.14, a P/E/G ratio of 0.45 and a beta of 1.03.
PulteGroup (NYSE:PHM) last announced its earnings results on Tuesday, January 30th. The construction company reported $0.85 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.85. PulteGroup had a net margin of 5.22% and a return on equity of 15.52%. The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter in the prior year, the company posted $0.67 earnings per share. The firm’s revenue was up 12.1% on a year-over-year basis. equities research analysts forecast that PulteGroup, Inc. will post 3.11 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 3rd. Shareholders of record on Friday, March 16th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Thursday, March 15th. PulteGroup’s dividend payout ratio (DPR) is currently 25.00%.
PulteGroup declared that its Board of Directors has authorized a stock buyback plan on Tuesday, January 30th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the construction company to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.
PulteGroup, Inc is a homebuilder in the United States. The Company’s segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land.
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