Shell Asset Management Co. Raises Stock Position in PulteGroup, Inc. (NYSE:PHM)

Shell Asset Management Co. grew its holdings in PulteGroup, Inc. (NYSE:PHM) by 47.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,883 shares of the construction company’s stock after buying an additional 3,826 shares during the period. Shell Asset Management Co.’s holdings in PulteGroup were worth $1,294,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Franklin Resources Inc. lifted its holdings in shares of PulteGroup by 6.1% in 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 last quarter. Geode Capital Management LLC lifted its holdings in shares of PulteGroup by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 5,120,878 shares of the construction company’s stock worth $556,465,000 after acquiring an additional 64,947 shares during the last quarter. Norges Bank bought a new stake in shares of PulteGroup in the 4th quarter worth about $427,562,000. Northern Trust Corp lifted its holdings in shares of PulteGroup by 14.9% in the 4th quarter. Northern Trust Corp now owns 2,425,941 shares of the construction company’s stock worth $264,185,000 after acquiring an additional 315,148 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of PulteGroup by 14.3% in the 4th quarter. Deutsche Bank AG now owns 1,859,029 shares of the construction company’s stock worth $202,448,000 after acquiring an additional 232,939 shares during the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PHM shares. UBS Group lowered their target price on shares of PulteGroup from $151.00 to $141.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Royal Bank of Canada lowered their target price on shares of PulteGroup from $116.00 to $109.00 and set a “sector perform” rating for the company in a report on Wednesday, April 23rd. Seaport Res Ptn upgraded shares of PulteGroup from a “strong sell” rating to a “hold” rating in a report on Thursday, March 6th. Oppenheimer decreased their price objective on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a report on Friday, January 31st. Finally, Evercore ISI lifted their price objective on shares of PulteGroup from $161.00 to $165.00 and gave the company an “outperform” rating in a report on Wednesday, April 23rd. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $134.69.

PulteGroup Price Performance

Shares of PHM opened at $104.34 on Friday. The company has a 50 day moving average price of $100.86 and a 200-day moving average price of $111.12. PulteGroup, Inc. has a fifty-two week low of $88.07 and a fifty-two week high of $149.47. The stock has a market capitalization of $20.91 billion, a PE ratio of 7.09, a PEG ratio of 0.29 and a beta of 1.37. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, April 22nd. The construction company reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.10. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. The firm had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.86 billion. During the same quarter in the prior year, the company earned $3.10 EPS. Equities analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup announced that its Board of Directors has authorized a stock repurchase program on Thursday, January 30th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to buy up to 6.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

PulteGroup Announces Dividend

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

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.