PulteGroup, Inc. (NYSE:PHM) Shares Acquired by Woodline Partners LP

Woodline Partners LP increased its position in shares of PulteGroup, Inc. (NYSE:PHM) by 261.3% in the fourth quarter, HoldingsChannel reports. The firm owned 199,519 shares of the construction company’s stock after acquiring an additional 144,300 shares during the quarter. Woodline Partners LP’s holdings in PulteGroup were worth $21,728,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Franklin Resources Inc. increased its holdings in 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 buying an additional 683,592 shares during the period. Geode Capital Management LLC boosted 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 valued at $556,465,000 after acquiring an additional 64,947 shares during the last quarter. Norges Bank acquired a new stake in shares of PulteGroup in the fourth quarter worth $427,562,000. Northern Trust Corp raised its holdings in shares of PulteGroup by 14.9% during the fourth quarter. Northern Trust Corp now owns 2,425,941 shares of the construction company’s stock worth $264,185,000 after purchasing an additional 315,148 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in PulteGroup by 14.3% during the fourth quarter. Deutsche Bank AG now owns 1,859,029 shares of the construction company’s stock valued at $202,448,000 after purchasing an additional 232,939 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Stock Down 1.8%

PulteGroup stock opened at $101.17 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $20.28 billion, a PE ratio of 6.88, a price-to-earnings-growth ratio of 0.29 and a beta of 1.37. The business has a 50 day simple moving average of $100.85 and a 200-day simple moving average of $110.74. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $149.47.

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

PulteGroup announced that its board has approved a share repurchase program on Thursday, January 30th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the construction company to reacquire up to 6.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

PulteGroup Dividend Announcement

The business also recently announced 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 is Tuesday, June 17th. This represents a $0.88 annualized dividend and a dividend yield of 0.87%. PulteGroup’s dividend payout ratio (DPR) is 6.21%.

Analysts Set New Price Targets

Several brokerages have weighed in on PHM. Seaport Res Ptn raised PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 6th. Wells Fargo & Company lowered their target price on PulteGroup from $140.00 to $120.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. UBS Group dropped their target price on PulteGroup from $151.00 to $141.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Bank of America decreased their price target on PulteGroup from $135.00 to $134.00 and set a “buy” rating for the company in a report on Monday, January 27th. Finally, Evercore ISI upped their price objective on PulteGroup from $161.00 to $165.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 23rd. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, PulteGroup presently has a consensus rating of “Moderate Buy” and an average target price of $134.69.

About PulteGroup

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.