South Street Advisors LLC decreased its holdings in PulteGroup, Inc. (NYSE:PHM) by 2.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 430,830 shares of the construction company’s stock after selling 12,040 shares during the period. PulteGroup accounts for about 4.3% of South Street Advisors LLC’s portfolio, making the stock its 5th biggest holding. South Street Advisors LLC owned approximately 0.15% of PulteGroup worth $14,325,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Focused Wealth Management Inc bought a new position in shares of PulteGroup in the fourth quarter worth about $113,000. Invictus RG boosted its stake in shares of PulteGroup by 1,473.4% in the third quarter. Invictus RG now owns 4,264 shares of the construction company’s stock worth $117,000 after acquiring an additional 3,993 shares during the period. SeaCrest Wealth Management LLC bought a new position in shares of PulteGroup in the fourth quarter worth about $119,000. National Pension Service bought a new position in shares of PulteGroup in the fourth quarter worth about $138,000. Finally, Fieldpoint Private Securities LLC bought a new position in shares of PulteGroup in the third quarter worth about $150,000. 85.34% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently weighed in on PHM shares. Royal Bank of Canada set a $39.00 price objective on PulteGroup and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Credit Suisse Group raised PulteGroup to a “buy” rating and set a $38.00 price objective for the company in a research note on Wednesday, January 31st. Mizuho raised PulteGroup from a “neutral” rating to a “buy” rating in a research note on Thursday, January 18th. UBS upped their price objective on PulteGroup from $38.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Finally, Zacks Investment Research raised PulteGroup from a “sell” rating to a “hold” rating and set a $40.00 price objective for the company in a research note on Thursday, January 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $33.92.
In other news, Director Patrick J. Oleary sold 8,677 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $30.03, for a total value of $260,570.31. Following the completion of the sale, the director now directly owns 90,687 shares of the company’s stock, valued at approximately $2,723,330.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.71% of the stock is owned by company insiders.
Shares of PulteGroup stock traded down $0.13 during trading on Monday, reaching $29.25. The company had a trading volume of 66,641 shares, compared to its average volume of 5,067,698. PulteGroup, Inc. has a 52 week low of $21.41 and a 52 week high of $35.21. The company has a market capitalization of $8,416.34, a price-to-earnings ratio of 13.18, a PEG ratio of 0.46 and a beta of 1.12.
PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, January 30th. The construction company reported $0.85 EPS for the quarter, meeting analysts’ consensus estimates of $0.85. PulteGroup had a return on equity of 15.52% and a net margin of 5.22%. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same period in the prior year, the company earned $0.67 earnings per share. The firm’s revenue was up 12.1% on a year-over-year basis. research analysts anticipate that PulteGroup, Inc. will post 3.11 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 3rd. Investors of record on Friday, March 16th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Thursday, March 15th. PulteGroup’s payout ratio is presently 25.00%.
PulteGroup announced that its board has initiated a stock repurchase plan on Tuesday, January 30th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the construction company to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.
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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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