Blueshift Asset Management LLC Makes New Investment in PulteGroup, Inc. (NYSE:PHM)

Blueshift Asset Management LLC purchased a new position in shares of PulteGroup, Inc. (NYSE:PHM) in the 4th quarter, Holdings Channel reports. The firm purchased 4,987 shares of the construction company’s stock, valued at approximately $543,000.

Other hedge funds also recently bought and sold shares of the company. Logan Capital Management Inc. increased its position in PulteGroup by 67.7% during the third quarter. Logan Capital Management Inc. now owns 14,797 shares of the construction company’s stock worth $2,124,000 after buying an additional 5,976 shares in the last quarter. Sanctuary Advisors LLC grew its position in shares of PulteGroup by 38.1% in the third quarter. Sanctuary Advisors LLC now owns 121,299 shares of the construction company’s stock valued at $17,410,000 after purchasing an additional 33,472 shares during the period. Trustmark National Bank Trust Department grew its position in shares of PulteGroup by 39.8% in the third quarter. Trustmark National Bank Trust Department now owns 39,589 shares of the construction company’s stock valued at $5,682,000 after purchasing an additional 11,269 shares during the period. Systematic Financial Management LP grew its position in shares of PulteGroup by 3.9% in the third quarter. Systematic Financial Management LP now owns 130,257 shares of the construction company’s stock valued at $18,696,000 after purchasing an additional 4,840 shares during the period. Finally, Nilsine Partners LLC grew its position in shares of PulteGroup by 929.2% in the fourth quarter. Nilsine Partners LLC now owns 20,574 shares of the construction company’s stock valued at $2,240,000 after purchasing an additional 18,575 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 brokerages have recently commented on PHM. Barclays lowered their price objective on PulteGroup from $125.00 to $117.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Wedbush reiterated an “outperform” rating and issued a $135.00 target price on shares of PulteGroup in a report on Friday, January 31st. Bank of America reduced their target price on PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a report on Monday, January 27th. Wells Fargo & Company reduced their target price on PulteGroup from $165.00 to $140.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Finally, Seaport Res Ptn upgraded PulteGroup from a “strong sell” rating to a “hold” rating in a report on Thursday, March 6th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $140.86.

Insider Activity at PulteGroup

In other news, Director Brian P. Anderson sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $106.45, for a total transaction of $266,125.00. Following the completion of the transaction, the director now directly owns 56,617 shares of the company’s stock, valued at approximately $6,026,879.65. This represents a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Todd N. Sheldon sold 15,191 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $106.50, for a total value of $1,617,841.50. Following the transaction, the executive vice president now directly owns 74,758 shares of the company’s stock, valued at $7,961,727. This trade represents a 16.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,191 shares of company stock valued at $2,256,367 over the last three months. 0.83% of the stock is owned by insiders.

PulteGroup Stock Up 0.2 %

Shares of NYSE PHM opened at $105.33 on Friday. PulteGroup, Inc. has a 1 year low of $100.33 and a 1 year high of $149.47. The firm has a market cap of $21.32 billion, a price-to-earnings ratio of 7.16, a PEG ratio of 0.29 and a beta of 1.71. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86. The stock’s 50-day simple moving average is $108.63 and its 200-day simple moving average is $122.45.

PulteGroup (NYSE:PHM) last announced its earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share (EPS) for the quarter, topping 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%. As a group, equities analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.84%. The ex-dividend date is Tuesday, March 18th. PulteGroup’s dividend payout ratio is currently 5.98%.

PulteGroup declared that its board has approved a stock buyback plan on Thursday, January 30th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the construction company to purchase up to 6.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are 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.