Teachers Retirement System of The State of Kentucky lowered its position in PulteGroup, Inc. (NYSE:PHM) by 2.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,293,320 shares of the construction company’s stock after selling 31,600 shares during the quarter. Teachers Retirement System of The State of Kentucky owned about 0.45% of PulteGroup worth $43,002,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in PHM. Focused Wealth Management Inc purchased a new position in PulteGroup in the 4th quarter worth about $113,000. Invictus RG increased its stake in PulteGroup by 1,473.4% in the 3rd quarter. Invictus RG now owns 4,264 shares of the construction company’s stock worth $117,000 after buying an additional 3,993 shares during the period. SeaCrest Wealth Management LLC purchased a new position in PulteGroup in the 4th quarter worth about $119,000. National Pension Service purchased a new position in PulteGroup in the 4th quarter worth about $138,000. Finally, Fieldpoint Private Securities LLC purchased a new position in PulteGroup in the 3rd quarter worth about $150,000. 85.54% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Patrick J. Oleary sold 8,677 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $30.03, for a total value of $260,570.31. Following the sale, the director now directly owns 90,687 shares in the company, valued at approximately $2,723,330.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.71% of the stock is currently owned by company insiders.
PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, January 30th. The construction company reported $0.85 earnings per share for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $2.82 billion. During the same period last year, the business earned $0.67 EPS. The company’s revenue was up 12.1% compared to the same quarter last year. equities analysts forecast that PulteGroup, Inc. will post 3.11 EPS for the current year.
PulteGroup declared that its board has initiated a share repurchase program on Tuesday, January 30th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the construction company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
The company also recently declared 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 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Thursday, March 15th. PulteGroup’s dividend payout ratio is currently 25.00%.
Several research analysts recently commented on PHM shares. Buckingham Research downgraded shares of PulteGroup from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a research note on Tuesday, November 14th. Zacks Investment Research downgraded shares of PulteGroup from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Wedbush raised their price target on shares of PulteGroup from $27.00 to $35.00 and gave the stock a “neutral” rating in a research note on Friday, December 29th. ValuEngine raised shares of PulteGroup from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Finally, B. Riley downgraded shares of PulteGroup from a “buy” rating to a “neutral” rating and raised their price target for the stock from $31.00 to $36.00 in a research note on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $32.85.
PulteGroup Company Profile
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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