Fidelis Capital Partners LLC Makes New $294,000 Investment in PulteGroup, Inc. (NYSE:PHM)

Fidelis Capital Partners LLC bought a new position in shares of PulteGroup, Inc. (NYSE:PHM) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,850 shares of the construction company’s stock, valued at approximately $294,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Aprio Wealth Management LLC raised its stake in PulteGroup by 3.1% during the fourth quarter. Aprio Wealth Management LLC now owns 3,583 shares of the construction company’s stock valued at $370,000 after buying an additional 107 shares during the last quarter. KMG Fiduciary Partners LLC raised its stake in PulteGroup by 4.1% during the fourth quarter. KMG Fiduciary Partners LLC now owns 3,102 shares of the construction company’s stock valued at $320,000 after buying an additional 121 shares during the last quarter. DNB Asset Management AS raised its stake in PulteGroup by 0.3% during the fourth quarter. DNB Asset Management AS now owns 43,391 shares of the construction company’s stock valued at $4,479,000 after buying an additional 123 shares during the last quarter. Cascade Investment Advisors Inc. raised its stake in PulteGroup by 1.6% during the fourth quarter. Cascade Investment Advisors Inc. now owns 8,165 shares of the construction company’s stock valued at $843,000 after buying an additional 125 shares during the last quarter. Finally, Sugarloaf Wealth Management LLC raised its stake in PulteGroup by 9.2% during the third quarter. Sugarloaf Wealth Management LLC now owns 1,695 shares of the construction company’s stock valued at $126,000 after buying an additional 143 shares during the last quarter. 89.90% of the stock is owned by institutional investors.

Insider Activity

In other news, VP Brien P. O’meara sold 2,000 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $103.09, for a total value of $206,180.00. Following the transaction, the vice president now directly owns 15,389 shares in the company, valued at $1,586,452.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Royal Bank of Canada lifted their price objective on PulteGroup from $103.00 to $106.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 31st. Barclays lifted their target price on PulteGroup from $126.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Wedbush reissued a “neutral” rating and issued a $85.00 target price on shares of PulteGroup in a report on Wednesday, January 31st. Raymond James lifted their target price on PulteGroup from $100.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Finally, Citigroup lifted their price objective on PulteGroup from $116.00 to $127.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, PulteGroup has a consensus rating of “Moderate Buy” and an average target price of $106.47.

PulteGroup Price Performance

NYSE PHM opened at $105.45 on Friday. The company has a market capitalization of $22.25 billion, a PE ratio of 8.98, a price-to-earnings-growth ratio of 0.51 and a beta of 1.56. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.86 and a current ratio of 0.86. The business’s fifty day moving average is $110.49 and its 200 day moving average is $98.05. PulteGroup, Inc. has a fifty-two week low of $62.18 and a fifty-two week high of $121.07.

PulteGroup (NYSE:PHM) last released 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. The company had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.47 billion. PulteGroup had a return on equity of 25.97% and a net margin of 16.20%. PulteGroup’s quarterly revenue was down 15.5% compared to the same quarter last year. During the same period in the previous year, the business earned $3.63 earnings per share. Sell-side analysts predict that PulteGroup, Inc. will post 11.79 earnings per share for the current year.

PulteGroup declared that its Board of Directors has approved a stock buyback plan on Tuesday, January 30th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the construction company to purchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

PulteGroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders 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 dividend yield of 0.76%. PulteGroup’s payout ratio is 6.81%.

PulteGroup 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.