AlphaQuest LLC Grows Position in PulteGroup, Inc. (NYSE:PHM)

AlphaQuest LLC increased its position in PulteGroup, Inc. (NYSE:PHM) by 71.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 16,748 shares of the construction company’s stock after acquiring an additional 6,992 shares during the quarter. AlphaQuest LLC’s holdings in PulteGroup were worth $1,824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of PHM. United Community Bank grew its position in shares of PulteGroup by 2.9% during the fourth quarter. United Community Bank now owns 5,749 shares of the construction company’s stock worth $626,000 after purchasing an additional 160 shares in the last quarter. Amundi boosted its stake in PulteGroup by 77.9% in the 4th 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 during the period. Naviter Wealth LLC purchased a new stake in PulteGroup during the 4th quarter valued at approximately $483,000. Larson Financial Group LLC raised its position in shares of PulteGroup by 7.4% during the fourth quarter. Larson Financial Group LLC now owns 36,695 shares of the construction company’s stock valued at $3,996,000 after buying an additional 2,538 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of PulteGroup by 10.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 39,852 shares of the construction company’s stock worth $4,340,000 after buying an additional 3,700 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Trading Down 0.2 %

Shares of PHM opened at $108.06 on Friday. The company’s fifty day simple moving average is $109.48 and its 200-day simple moving average is $124.09. The company has a market cap of $21.88 billion, a P/E ratio of 7.35, a P/E/G ratio of 0.29 and a beta of 1.71. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a twelve month low of $100.54 and a twelve month high of $149.47.

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

PulteGroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date is Tuesday, March 18th. PulteGroup’s dividend payout ratio is currently 5.98%.

PulteGroup announced that its board has authorized 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 buy up to 6.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

PHM has been the topic of several research analyst reports. Wells Fargo & Company decreased their price target on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. The Goldman Sachs Group decreased their target price on PulteGroup from $140.00 to $124.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Barclays cut their price target on PulteGroup from $125.00 to $117.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. StockNews.com downgraded PulteGroup from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Finally, Bank of America lowered their target price on PulteGroup from $135.00 to $134.00 and set a “buy” rating for the company in a research report on Monday, January 27th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $140.86.

Insider Activity at PulteGroup

In related news, EVP Todd N. Sheldon sold 15,191 shares of the firm’s stock in a transaction dated 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 owns 74,758 shares of the company’s stock, valued at $7,961,727. This trade represents a 16.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Brien P. O’meara sold 3,500 shares of PulteGroup stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $106.40, for a total transaction of $372,400.00. Following the sale, the vice president now owns 11,372 shares of the company’s stock, valued at $1,209,980.80. The trade was a 23.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,191 shares of company stock worth $2,256,367 in the last quarter. 0.75% of the stock is owned by company insiders.

PulteGroup Profile

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.