Todd Asset Management LLC reduced its stake in shares of PulteGroup (NYSE:PHM) by 7.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,548,223 shares of the construction company’s stock after selling 130,724 shares during the period. PulteGroup makes up approximately 1.3% of Todd Asset Management LLC’s holdings, making the stock its 11th biggest holding. Todd Asset Management LLC owned 0.54% of PulteGroup worth $45,657,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in PHM. Signaturefd LLC acquired a new stake in PulteGroup during the 1st quarter worth approximately $106,000. Twin Tree Management LP acquired a new stake in PulteGroup during the 1st quarter worth approximately $107,000. Focused Wealth Management Inc acquired a new stake in PulteGroup during the 4th quarter worth approximately $113,000. SeaCrest Wealth Management LLC acquired a new stake in PulteGroup during the 4th quarter worth approximately $119,000. Finally, National Pension Service acquired a new stake in PulteGroup during the 4th quarter worth approximately $138,000. Hedge funds and other institutional investors own 84.63% of the company’s stock.
Several analysts have commented on the stock. Barclays dropped their target price on shares of PulteGroup from $35.00 to $33.00 and set a “hold” rating on the stock in a report on Monday, March 26th. Royal Bank of Canada set a $39.00 target price on shares of PulteGroup and gave the stock a “buy” rating in a report on Wednesday, February 14th. Mizuho restated a “buy” rating and set a $36.00 target price on shares of PulteGroup in a report on Thursday, March 15th. Buckingham Research upgraded shares of PulteGroup from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Wednesday, April 25th. Finally, Zacks Investment Research downgraded shares of PulteGroup from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $35.21.
In related news, COO Harmon D. Smith sold 1,045 shares of the business’s stock in a transaction on Tuesday, May 8th. The shares were sold at an average price of $31.32, for a total transaction of $32,729.40. Following the transaction, the chief operating officer now directly owns 308,539 shares in the company, valued at $9,663,441.48. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Harmon D. Smith sold 51,716 shares of the business’s stock in a transaction on Friday, May 11th. The stock was sold at an average price of $31.40, for a total transaction of $1,623,882.40. Following the transaction, the chief operating officer now owns 256,823 shares in the company, valued at $8,064,242.20. The disclosure for this sale can be found here. Insiders sold 66,761 shares of company stock worth $2,086,972 over the last quarter. 0.86% of the stock is owned by corporate insiders.
PulteGroup opened at $30.27 on Friday, according to Marketbeat Ratings. PulteGroup has a 12-month low of $22.52 and a 12-month high of $35.21. The company has a market capitalization of $8.57 billion, a PE ratio of 13.82, a price-to-earnings-growth ratio of 0.50 and a beta of 1.03.
PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Tuesday, April 24th. The construction company reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.15. PulteGroup had a net margin of 5.91% and a return on equity of 17.48%. The company had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period last year, the company earned $0.31 earnings per share. The firm’s revenue was up 20.9% compared to the same quarter last year. sell-side analysts predict that PulteGroup will post 3.31 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 5th. Stockholders of record on Thursday, June 7th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, June 6th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.19%. PulteGroup’s dividend payout ratio (DPR) is presently 16.44%.
PulteGroup declared that its Board of Directors has authorized a share buyback program on Tuesday, January 30th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the construction company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company is involved in the acquisition and development of land primarily for residential purposes; and the construction of housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods names.
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