Quantum Private Wealth LLC Buys New Stake in PulteGroup, Inc. (NYSE:PHM)

Quantum Private Wealth LLC purchased a new position in shares of PulteGroup, Inc. (NYSE:PHM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,308 shares of the construction company’s stock, valued at approximately $238,000.

Other institutional investors have also modified their holdings of the company. Everence Capital Management Inc. grew its holdings in PulteGroup by 6.0% during the fourth quarter. Everence Capital Management Inc. now owns 9,050 shares of the construction company’s stock worth $934,000 after acquiring an additional 510 shares during the period. Eads & Heald Wealth Management acquired a new stake in shares of PulteGroup during the 4th quarter worth approximately $253,000. Conning Inc. purchased a new position in shares of PulteGroup during the 4th quarter valued at approximately $224,000. Lecap Asset Management Ltd. purchased a new position in shares of PulteGroup during the 4th quarter valued at approximately $703,000. Finally, Louisiana State Employees Retirement System purchased a new stake in PulteGroup during the fourth quarter worth $1,342,000. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on PHM shares. Barclays lifted their price objective on shares of PulteGroup from $126.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Royal Bank of Canada increased their price target on PulteGroup from $103.00 to $106.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 31st. The Goldman Sachs Group boosted their price objective on PulteGroup from $91.00 to $105.00 and gave the company a “neutral” rating in a research report on Thursday, January 11th. Citigroup increased their target price on PulteGroup from $116.00 to $127.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Finally, StockNews.com lowered shares of PulteGroup from a “buy” rating to a “hold” rating in a report on Saturday, March 2nd. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.47.

PulteGroup Price Performance

PHM stock traded down $1.93 during mid-day trading on Wednesday, reaching $106.86. The company’s stock had a trading volume of 1,577,056 shares, compared to its average volume of 1,475,342. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19. The company’s 50 day moving average is $110.32 and its two-hundred day moving average is $97.71. PulteGroup, Inc. has a fifty-two week low of $59.95 and a fifty-two week high of $121.07. The stock has a market cap of $22.55 billion, a PE ratio of 9.10, a P/E/G ratio of 0.53 and a beta of 1.56.

PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, January 30th. The construction company reported $3.28 earnings per share for the quarter, beating the consensus estimate of $3.21 by $0.07. PulteGroup had a net margin of 16.20% and a return on equity of 25.97%. The company had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.47 billion. During the same period in the previous year, the business posted $3.63 EPS. PulteGroup’s revenue was down 15.5% on a year-over-year basis. Equities research analysts expect that PulteGroup, Inc. will post 11.79 EPS for the current year.

PulteGroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Friday, March 15th were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.80 annualized dividend and a yield of 0.75%. PulteGroup’s payout ratio is 6.81%.

PulteGroup announced that its board has authorized a stock buyback plan on Tuesday, January 30th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the construction company to buy up to 6.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, VP Brien P. O’meara sold 2,000 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total value of $206,180.00. Following the sale, the vice president now directly owns 15,389 shares in the company, valued at approximately $1,586,452.01. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.75% of the stock is owned by insiders.

PulteGroup Company Profile

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. It acquires and develops land primarily for residential purposes; and constructs housing on such land. The company also offers various home designs, including single-family detached, townhomes, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, John Wieland Homes and Neighborhoods, and American West brand names.