Cornerstone Capital Management Holdings LLC. lowered its holdings in PulteGroup, Inc. (NYSE:PHM) by 10.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 936,666 shares of the construction company’s stock after selling 109,535 shares during the period. Cornerstone Capital Management Holdings LLC. owned about 0.33% of PulteGroup worth $31,143,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of PHM. LMR Partners LLP purchased a new position in shares of PulteGroup during the 4th quarter valued at $1,597,000. Capital Bank & Trust Co lifted its position in shares of PulteGroup by 424.5% during the 3rd quarter. Capital Bank & Trust Co now owns 120,859 shares of the construction company’s stock valued at $3,303,000 after buying an additional 97,818 shares during the last quarter. Contravisory Investment Management Inc. purchased a new position in shares of PulteGroup during the 4th quarter valued at $304,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of PulteGroup by 2.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,053 shares of the construction company’s stock valued at $2,196,000 after buying an additional 1,760 shares during the last quarter. Finally, Comerica Bank lifted its position in shares of PulteGroup by 60.3% during the 4th quarter. Comerica Bank now owns 110,095 shares of the construction company’s stock valued at $3,832,000 after buying an additional 41,432 shares during the last quarter. 85.54% of the stock is currently owned by institutional investors and hedge funds.
PHM has been the topic of a number of recent research reports. Mizuho raised PulteGroup from a “neutral” rating to a “buy” rating in a research report on Thursday, January 18th. UBS Group boosted their price objective on PulteGroup from $38.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Credit Suisse Group upgraded PulteGroup to a “buy” rating and set a $38.00 price objective on the stock in a research note on Wednesday, January 31st. Royal Bank of Canada set a $39.00 price objective on PulteGroup and gave the company a “buy” rating in a research note on Wednesday, February 14th. Finally, Zacks Investment Research lowered PulteGroup from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. PulteGroup presently has an average rating of “Buy” and an average price target of $32.85.
PulteGroup (NYSE:PHM) last announced its earnings results on Tuesday, January 30th. The construction company reported $0.85 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.85. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.82 billion. PulteGroup had a return on equity of 15.52% and a net margin of 5.22%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.67 EPS. equities analysts expect that PulteGroup, Inc. will post 3.11 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 3rd. Shareholders of record on Friday, March 16th will be paid a $0.09 dividend. The ex-dividend date is Thursday, March 15th. This represents a $0.36 dividend on an annualized basis and a yield of 1.18%. PulteGroup’s dividend payout ratio is currently 25.00%.
PulteGroup declared that its Board of Directors has authorized a share repurchase program on Tuesday, January 30th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the construction company to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
In other PulteGroup news, Director Patrick J. Oleary sold 8,677 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $30.03, for a total value of $260,570.31. Following the transaction, the director now directly owns 90,687 shares in the company, valued at approximately $2,723,330.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.71% of the stock is owned by corporate insiders.
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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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