PulteGroup, Inc. (NYSE:PHM) is Bayview Asset Management LLC’s 7th Largest Position

Bayview Asset Management LLC grew its position in PulteGroup, Inc. (NYSE:PHM) by 103.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,688 shares of the construction company’s stock after purchasing an additional 5,938 shares during the period. PulteGroup makes up approximately 1.0% of Bayview Asset Management LLC’s holdings, making the stock its 7th largest holding. Bayview Asset Management LLC’s holdings in PulteGroup were worth $1,273,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of PulteGroup during the fourth quarter valued at $427,562,000. Amundi raised its stake in PulteGroup by 77.9% during the 4th quarter. Amundi now owns 1,636,562 shares of the construction company’s stock valued at $180,775,000 after purchasing an additional 716,716 shares during the period. Franklin Resources Inc. boosted its position in PulteGroup by 6.1% during the 4th quarter. Franklin Resources Inc. now owns 11,937,866 shares of the construction company’s stock worth $1,300,034,000 after acquiring an additional 683,592 shares during the period. Bridgewater Associates LP boosted its holdings in shares of PulteGroup by 118.8% during the fourth quarter. Bridgewater Associates LP now owns 783,581 shares of the construction company’s stock worth $85,332,000 after purchasing an additional 425,492 shares during the period. Finally, First Trust Advisors LP boosted its stake in shares of PulteGroup by 45.6% during the 4th quarter. First Trust Advisors LP now owns 1,065,190 shares of the construction company’s stock valued at $115,999,000 after buying an additional 333,361 shares during the period. 89.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Wells Fargo & Company lowered their target price on shares of PulteGroup from $140.00 to $120.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Oppenheimer decreased their price objective on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. The Goldman Sachs Group lowered their price objective on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Wedbush reiterated an “outperform” rating and issued a $135.00 price objective on shares of PulteGroup in a report on Tuesday, April 22nd. Finally, UBS Group decreased their price objective on PulteGroup from $151.00 to $141.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.69.

Insider Buying and Selling

In other PulteGroup news, EVP Todd N. Sheldon sold 15,191 shares of PulteGroup stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $106.50, for a total transaction of $1,617,841.50. Following the sale, the executive vice president now owns 74,758 shares of the company’s stock, valued at $7,961,727. The trade was a 16.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Brian P. Anderson sold 2,500 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $106.45, for a total transaction of $266,125.00. Following the completion of the sale, the director now owns 56,617 shares of the company’s stock, valued at $6,026,879.65. This trade represents a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,191 shares of company stock worth $2,256,367. Insiders own 0.76% of the company’s stock.

PulteGroup Price Performance

Shares of NYSE:PHM opened at $104.51 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13. The company’s 50 day moving average is $101.20 and its 200 day moving average is $113.43. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month high of $149.47. The company has a market cap of $20.95 billion, a PE ratio of 7.10, a price-to-earnings-growth ratio of 0.29 and a beta of 1.37.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Tuesday, April 22nd. The construction company reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.10. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. The business had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.86 billion. During the same quarter last year, the company earned $3.10 EPS. On average, sell-side analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 17th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend is Tuesday, June 17th. PulteGroup’s dividend payout ratio is presently 6.21%.

PulteGroup announced that its Board of Directors has authorized a share repurchase plan on Thursday, January 30th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the construction company to repurchase up to 6.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

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.