DekaBank Deutsche Girozentrale boosted its stake in PulteGroup (NYSE:PHM) by 63.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 40,451 shares of the construction company’s stock after buying an additional 15,677 shares during the period. DekaBank Deutsche Girozentrale’s holdings in PulteGroup were worth $1,222,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. SG Americas Securities LLC grew its stake in PulteGroup by 68.7% in the 1st quarter. SG Americas Securities LLC now owns 129,272 shares of the construction company’s stock valued at $3,812,000 after buying an additional 52,650 shares during the last quarter. QUANTRES ASSET MANAGEMENT Ltd acquired a new position in PulteGroup in the 1st quarter valued at about $1,000,000. Sumitomo Mitsui Trust Holdings Inc. grew its stake in PulteGroup by 2.4% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 879,674 shares of the construction company’s stock valued at $25,942,000 after buying an additional 20,916 shares during the last quarter. Commerzbank Aktiengesellschaft FI grew its stake in PulteGroup by 3.6% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 70,189 shares of the construction company’s stock valued at $2,070,000 after buying an additional 2,442 shares during the last quarter. Finally, Wedge Capital Management L L P NC grew its stake in PulteGroup by 102.2% in the 1st quarter. Wedge Capital Management L L P NC now owns 1,750,420 shares of the construction company’s stock valued at $51,620,000 after buying an additional 884,600 shares during the last quarter. Institutional investors and hedge funds own 87.50% of the company’s stock.
In other news, Director Andre J. Hawaux purchased 3,100 shares of the business’s stock in a transaction dated Friday, May 11th. The stock was bought at an average price of $31.31 per share, with a total value of $97,061.00. Following the acquisition, the director now owns 48,548 shares in the company, valued at approximately $1,520,037.88. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Harmon D. Smith sold 51,716 shares of the company’s stock in a transaction that occurred on Friday, May 11th. The stock was sold at an average price of $31.40, for a total transaction of $1,623,882.40. Following the sale, the chief operating officer now directly owns 256,823 shares of the company’s stock, valued at approximately $8,064,242.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 75,438 shares of company stock valued at $2,347,542. 0.86% of the stock is currently owned by insiders.
PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Tuesday, April 24th. The construction company reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.15. PulteGroup had a net margin of 5.91% and a return on equity of 17.48%. The company had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the prior year, the firm posted $0.31 EPS. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. research analysts forecast that PulteGroup will post 3.31 earnings per share for the current year.
PulteGroup announced that its Board of Directors has authorized a share buyback program on Tuesday, January 30th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the construction company to reacquire shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 5th. Stockholders of record on Thursday, June 7th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Wednesday, June 6th. PulteGroup’s dividend payout ratio (DPR) is presently 16.44%.
A number of research firms have issued reports on PHM. Royal Bank of Canada set a $39.00 price objective on shares of PulteGroup and gave the company a “buy” rating in a report on Wednesday, February 14th. Barclays cut their price objective on shares of PulteGroup from $35.00 to $33.00 and set a “hold” rating for the company in a report on Monday, March 26th. Mizuho reissued a “buy” rating and issued a $36.00 price objective on shares of PulteGroup in a report on Thursday, March 15th. B. Riley raised shares of PulteGroup from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $36.00 to $40.00 in a report on Wednesday, April 25th. Finally, Buckingham Research raised shares of PulteGroup from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Wednesday, April 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. PulteGroup currently has a consensus rating of “Buy” and an average price target of $35.21.
PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company is involved in the acquisition and development of land primarily for residential purposes; and the construction of housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods names.
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