Brandywine Global Investment Management LLC increased its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 3,042.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,291,858 shares of the construction company’s stock after buying an additional 2,218,931 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.83% of PulteGroup worth $59,566,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PHM. Burt Wealth Advisors purchased a new position in shares of PulteGroup during the fourth quarter worth about $26,000. Oregon Public Employees Retirement Fund boosted its holdings in PulteGroup by 5,826.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,773,921 shares of the construction company’s stock valued at $68,000 after purchasing an additional 1,743,987 shares in the last quarter. Financial Gravity Companies Inc. purchased a new stake in PulteGroup in the 4th quarter valued at approximately $71,000. Enlightenment Research LLC purchased a new stake in PulteGroup in the 4th quarter valued at approximately $88,000. Finally, Focused Wealth Management Inc boosted its holdings in PulteGroup by 17.6% in the 4th quarter. Focused Wealth Management Inc now owns 4,000 shares of the construction company’s stock valued at $104,000 after purchasing an additional 600 shares in the last quarter. 87.04% of the stock is currently owned by hedge funds and other institutional investors.
PHM has been the topic of a number of analyst reports. Barclays set a $24.00 price objective on PulteGroup and gave the company a “hold” rating in a report on Wednesday, December 12th. ValuEngine raised PulteGroup from a “sell” rating to a “hold” rating in a report on Tuesday, December 18th. Zacks Investment Research lowered PulteGroup from a “hold” rating to a “sell” rating in a report on Monday, December 31st. Royal Bank of Canada lowered PulteGroup from a “sector perform” rating to an “underperform” rating and set a $25.00 price objective on the stock. in a report on Friday, January 11th. They noted that the move was a valuation call. Finally, Buckingham Research initiated coverage on PulteGroup in a report on Friday, January 11th. They issued a “neutral” rating and a $30.00 price objective on the stock. They noted that the move was a valuation call. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $28.07.
Shares of NYSE:PHM opened at $26.87 on Friday. The company has a market cap of $7.45 billion, a PE ratio of 7.48, a PEG ratio of 1.30 and a beta of 0.79. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.77 and a current ratio of 0.77. PulteGroup, Inc. has a 12 month low of $20.64 and a 12 month high of $33.04.
PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, January 29th. The construction company reported $1.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.02. The business had revenue of $3 billion for the quarter, compared to analyst estimates of $2.90 billion. PulteGroup had a return on equity of 22.51% and a net margin of 10.03%. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.85 EPS. Analysts expect that PulteGroup, Inc. will post 3.19 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 3rd. Stockholders of record on Friday, March 15th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Thursday, March 14th. PulteGroup’s dividend payout ratio (DPR) is 12.26%.
In other news, insider Ryan Marshall sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $27.81, for a total transaction of $417,150.00. Following the sale, the insider now owns 453,996 shares of the company’s stock, valued at approximately $12,625,628.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.86% of the stock is owned by insiders.
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PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company acquires and develops land primarily for residential purposes; and constructs 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 brand names.
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