Stone Ridge Asset Management LLC acquired a new stake in PulteGroup, Inc. (NYSE:PHM) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 121,006 shares of the construction company’s stock, valued at approximately $4,024,000.
Several other hedge funds have also made changes to their positions in the stock. Guggenheim Capital LLC grew its holdings in shares of PulteGroup by 31.9% in the fourth quarter. Guggenheim Capital LLC now owns 2,150,291 shares of the construction company’s stock valued at $71,496,000 after purchasing an additional 520,436 shares in the last quarter. Kemnay Advisory Services Inc. grew its holdings in shares of PulteGroup by 28.7% in the fourth quarter. Kemnay Advisory Services Inc. now owns 38,464 shares of the construction company’s stock valued at $1,279,000 after purchasing an additional 8,582 shares in the last quarter. Brandywine Global Investment Management LLC grew its holdings in shares of PulteGroup by 3.6% in the fourth quarter. Brandywine Global Investment Management LLC now owns 368,272 shares of the construction company’s stock valued at $12,246,000 after purchasing an additional 12,783 shares in the last quarter. Jefferies Group LLC grew its holdings in shares of PulteGroup by 215.3% in the fourth quarter. Jefferies Group LLC now owns 179,415 shares of the construction company’s stock valued at $5,966,000 after purchasing an additional 122,519 shares in the last quarter. Finally, Caxton Associates LP acquired a new position in shares of PulteGroup in the fourth quarter valued at approximately $1,028,000. Hedge funds and other institutional investors own 85.54% of the company’s stock.
In other news, Director Patrick J. Oleary sold 8,677 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $30.03, for a total value of $260,570.31. Following the completion of the transaction, the director now owns 90,687 shares in the company, valued at approximately $2,723,330.61. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.71% of the company’s stock.
PulteGroup (NYSE:PHM) last issued its earnings results on Tuesday, January 30th. The construction company reported $0.85 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.85. PulteGroup had a net margin of 5.22% and a return on equity of 15.52%. The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter in the prior year, the business posted $0.67 EPS. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. research analysts forecast that PulteGroup, Inc. will post 3.11 earnings per share for the current year.
PulteGroup declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, January 30th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the construction company to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Friday, March 16th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Thursday, March 15th. PulteGroup’s payout ratio is 25.00%.
Several research analysts have commented on PHM shares. Buckingham Research cut shares of PulteGroup from a “buy” rating to a “neutral” rating and set a $33.00 price target for the company. in a report on Tuesday, November 14th. Zacks Investment Research cut shares of PulteGroup from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. Wedbush boosted their price target on shares of PulteGroup from $27.00 to $35.00 and gave the stock a “neutral” rating in a report on Friday, December 29th. ValuEngine upgraded shares of PulteGroup from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. Finally, B. Riley cut shares of PulteGroup from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $31.00 to $36.00 in a report on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. PulteGroup currently has an average rating of “Buy” and an average target price of $32.85.
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PulteGroup, Inc is a homebuilder in the United States. The Company’s segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land.
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