Five Oceans Advisors Makes New Investment in PulteGroup, Inc. (NYSE:PHM)

Five Oceans Advisors acquired a new position in PulteGroup, Inc. (NYSE:PHMFree Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,295 shares of the construction company’s stock, valued at approximately $237,000.

A number of other hedge funds have also made changes to their positions in the business. Nordea Investment Management AB raised its position in PulteGroup by 4.0% in the fourth quarter. Nordea Investment Management AB now owns 753,768 shares of the construction company’s stock valued at $78,030,000 after purchasing an additional 28,833 shares during the period. Illinois Municipal Retirement Fund raised its holdings in shares of PulteGroup by 24.9% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 26,341 shares of the construction company’s stock valued at $1,951,000 after buying an additional 5,257 shares during the period. American Century Companies Inc. lifted its position in PulteGroup by 65.0% during the 3rd quarter. American Century Companies Inc. now owns 224,978 shares of the construction company’s stock worth $16,660,000 after acquiring an additional 88,638 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in PulteGroup in the fourth quarter valued at approximately $2,815,000. Finally, Covestor Ltd raised its stake in shares of PulteGroup by 25.2% during the third quarter. Covestor Ltd now owns 2,517 shares of the construction company’s stock valued at $186,000 after purchasing an additional 506 shares during the period. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Barclays raised their price target on shares of PulteGroup from $120.00 to $126.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. Citigroup cut PulteGroup from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $87.00 to $113.00 in a research note on Monday, January 8th. Wedbush restated a “neutral” rating and set a $85.00 price objective on shares of PulteGroup in a research note on Wednesday, January 31st. StockNews.com lowered PulteGroup from a “buy” rating to a “hold” rating in a research report on Saturday, March 2nd. Finally, UBS Group downgraded shares of PulteGroup from a “buy” rating to a “neutral” rating and raised their price target for the stock from $93.00 to $120.00 in a research report on Thursday, January 4th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $104.87.

Get Our Latest Research Report on PulteGroup

PulteGroup Trading Down 3.7 %

NYSE:PHM opened at $114.09 on Tuesday. The firm has a market capitalization of $24.07 billion, a P/E ratio of 10.09, a P/E/G ratio of 0.81 and a beta of 1.56. The business has a 50 day simple moving average of $108.62 and a 200 day simple moving average of $94.80. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.86 and a quick ratio of 0.86. PulteGroup, Inc. has a 12-month low of $57.26 and a 12-month high of $121.07.

PulteGroup (NYSE:PHMGet Free Report) last announced its quarterly earnings results on Tuesday, January 30th. The construction company reported $3.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.21 by $0.07. PulteGroup had a net margin of 16.20% and a return on equity of 25.97%. The company had revenue of $4.29 billion during the quarter, compared to the consensus estimate of $4.47 billion. During the same quarter in the previous year, the company posted $3.63 earnings per share. The company’s revenue for the quarter was down 15.5% compared to the same quarter last year. Equities research analysts predict that PulteGroup, Inc. will post 11.78 EPS for the current year.

PulteGroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 2nd. Shareholders of record on Friday, March 15th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 0.70%. PulteGroup’s payout ratio is currently 6.81%.

PulteGroup declared that its board has approved a stock buyback plan on Tuesday, January 30th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 6.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity

In related news, VP Brien P. O’meara sold 2,000 shares of the 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 completion of the transaction, the vice president now directly owns 15,389 shares of the company’s stock, valued at approximately $1,586,452.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.75% of the company’s stock.

PulteGroup Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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