Diametric Capital LP Buys 890 Shares of PulteGroup, Inc. (NYSE:PHM)

Diametric Capital LP raised its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 33.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 3,554 shares of the construction company’s stock after purchasing an additional 890 shares during the period. Diametric Capital LP’s holdings in PulteGroup were worth $387,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Franklin Resources Inc. grew its stake in shares of PulteGroup by 6.1% during the 4th quarter. Franklin Resources Inc. now owns 11,937,866 shares of the construction company’s stock valued at $1,300,034,000 after acquiring an additional 683,592 shares during the period. Norges Bank purchased a new position in PulteGroup during the fourth quarter valued at approximately $427,562,000. Amundi increased its stake in shares of PulteGroup by 77.9% in the fourth quarter. Amundi now owns 1,636,562 shares of the construction company’s stock worth $180,775,000 after purchasing an additional 716,716 shares in the last quarter. Nordea Investment Management AB raised its position in shares of PulteGroup by 10.0% during the 4th quarter. Nordea Investment Management AB now owns 1,424,119 shares of the construction company’s stock valued at $155,856,000 after purchasing an additional 129,975 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of PulteGroup by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,351,491 shares of the construction company’s stock valued at $147,177,000 after buying an additional 19,829 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PHM shares. JPMorgan Chase & Co. cut their target price on PulteGroup from $162.00 to $155.00 and set an “overweight” rating for the company in a research report on Friday, December 13th. Wells Fargo & Company cut their target price on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Citigroup decreased their price target on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. The Goldman Sachs Group cut their price objective on PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Finally, Wedbush reissued an “outperform” rating and set a $135.00 price target on shares of PulteGroup in a research note on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $140.86.

Insider Activity at PulteGroup

In other news, EVP Todd N. Sheldon sold 15,191 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $106.50, for a total transaction of $1,617,841.50. Following the completion of the sale, the executive vice president now owns 74,758 shares in the company, valued at approximately $7,961,727. This represents a 16.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Brian P. Anderson sold 2,500 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $106.45, for a total value of $266,125.00. Following the transaction, the director now owns 56,617 shares in the company, valued at approximately $6,026,879.65. This trade represents a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,191 shares of company stock valued at $2,256,367 over the last 90 days. Insiders own 0.76% of the company’s stock.

PulteGroup Stock Up 0.1 %

Shares of NYSE PHM opened at $102.92 on Wednesday. PulteGroup, Inc. has a 1 year low of $99.58 and a 1 year high of $149.47. The firm has a 50-day simple moving average of $107.04 and a two-hundred day simple moving average of $120.76. The company has a market cap of $20.84 billion, a P/E ratio of 7.00, a PEG ratio of 0.29 and a beta of 1.71. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.28 by $0.22. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. Research analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.22 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 annualized dividend and a yield of 0.86%. PulteGroup’s dividend payout ratio (DPR) is presently 5.98%.

PulteGroup declared that its Board of Directors has initiated a share buyback plan on Thursday, January 30th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to buy up to 6.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

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.