QS Investors LLC lessened its stake in PulteGroup, Inc. (NYSE:PHM) by 8.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 177,672 shares of the construction company’s stock after selling 16,630 shares during the quarter. QS Investors LLC owned about 0.06% of PulteGroup worth $5,908,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the stock. CHURCHILL MANAGEMENT Corp raised its stake in PulteGroup by 2.0% in the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 83,701 shares of the construction company’s stock valued at $2,783,000 after purchasing an additional 1,670 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in PulteGroup by 2.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,053 shares of the construction company’s stock valued at $2,196,000 after purchasing an additional 1,760 shares in the last quarter. Moors & Cabot Inc. raised its stake in PulteGroup by 7.3% in the third quarter. Moors & Cabot Inc. now owns 27,543 shares of the construction company’s stock valued at $755,000 after purchasing an additional 1,865 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in PulteGroup by 28.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 8,808 shares of the construction company’s stock valued at $294,000 after purchasing an additional 1,946 shares in the last quarter. Finally, Catamount Wealth Management raised its stake in PulteGroup by 2.8% in the third quarter. Catamount Wealth Management now owns 78,501 shares of the construction company’s stock valued at $2,145,000 after purchasing an additional 2,101 shares in the last quarter. 85.54% of the stock is owned by institutional investors and hedge funds.
PHM has been the subject of a number of analyst reports. Mizuho raised PulteGroup from a “neutral” rating to a “buy” rating in a research note on Thursday, January 18th. UBS Group boosted their price target 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 raised PulteGroup to a “buy” rating and set a $38.00 price target for the company in a research note on Wednesday, January 31st. Royal Bank of Canada set a $39.00 price target on PulteGroup and gave the company a “buy” rating in a research note on Wednesday, February 14th. Finally, Zacks Investment Research downgraded PulteGroup from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. PulteGroup currently has a consensus rating of “Buy” and a consensus price target of $32.85.
PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, January 30th. The construction company reported $0.85 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.85. PulteGroup had a return on equity of 15.52% and a net margin of 5.22%. The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter in the previous year, the business posted $0.67 earnings per share. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. equities analysts expect that PulteGroup, Inc. will post 3.11 earnings per share for the current fiscal 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 given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Thursday, March 15th. PulteGroup’s dividend payout ratio is presently 25.00%.
PulteGroup announced that its board has authorized a stock buyback program on Tuesday, January 30th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the construction company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
In other PulteGroup news, Director Patrick J. Oleary sold 8,677 shares of PulteGroup 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 owns 90,687 shares in the company, valued at $2,723,330.61. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.71% of the company’s stock.
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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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