Canada Pension Plan Investment Board Has $7.29 Million Stock Position in PulteGroup, Inc. (NYSE:PHM)

Canada Pension Plan Investment Board grew its holdings in PulteGroup, Inc. (NYSE:PHMFree Report) by 42.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 98,400 shares of the construction company’s stock after purchasing an additional 29,400 shares during the period. Canada Pension Plan Investment Board’s holdings in PulteGroup were worth $7,287,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of PHM. Clear Street Markets LLC raised its position in shares of PulteGroup by 90.9% in the first quarter. Clear Street Markets LLC now owns 441 shares of the construction company’s stock valued at $26,000 after purchasing an additional 210 shares during the period. Coppell Advisory Solutions Corp. bought a new stake in PulteGroup during the 4th quarter worth approximately $26,000. Coppell Advisory Solutions LLC bought a new stake in PulteGroup during the 2nd quarter worth approximately $29,000. West Tower Group LLC bought a new stake in PulteGroup during the 2nd quarter worth approximately $30,000. Finally, Arlington Trust Co LLC bought a new stake in PulteGroup during the 3rd quarter worth approximately $33,000. Institutional investors own 89.84% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on PHM. Wedbush reaffirmed a “neutral” rating and set a $85.00 target price on shares of PulteGroup in a report on Wednesday, January 31st. Royal Bank of Canada upped their target price on shares of PulteGroup from $103.00 to $106.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 31st. JPMorgan Chase & Co. decreased their target price on shares of PulteGroup from $120.00 to $117.00 and set an “overweight” rating on the stock in a report on Wednesday, October 25th. lowered shares of PulteGroup from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Finally, The Goldman Sachs Group boosted their price target on shares of PulteGroup from $91.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, January 11th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $102.31.

View Our Latest Stock Report on PHM

PulteGroup Price Performance

Shares of PulteGroup stock opened at $105.68 on Tuesday. PulteGroup, Inc. has a 52-week low of $52.24 and a 52-week high of $110.75. The stock has a market capitalization of $22.42 billion, a price-to-earnings ratio of 9.00, a price-to-earnings-growth ratio of 0.70 and a beta of 1.56. The company has a fifty day moving average of $102.58 and a 200-day moving average of $87.63. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.86 and a current ratio of 0.86.

PulteGroup (NYSE:PHMGet Free Report) last announced its quarterly earnings data on Tuesday, January 30th. The construction company reported $3.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $4.47 billion. During the same quarter in the prior year, the company earned $3.63 EPS. The firm’s revenue was down 15.5% on a year-over-year basis. Equities research analysts expect that PulteGroup, Inc. will post 11.72 EPS for the current year.

PulteGroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 2nd. Stockholders of record on Friday, March 15th will be paid a $0.20 dividend. The ex-dividend date is Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.76%. PulteGroup’s dividend payout ratio (DPR) is 6.81%.

PulteGroup announced that its Board of Directors has authorized a stock buyback plan on Tuesday, January 30th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the construction company to buy up to 6.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In other PulteGroup news, VP Brien P. O’meara sold 2,000 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total transaction of $206,180.00. Following the completion of the sale, the vice president now owns 15,389 shares of the company’s stock, valued at approximately $1,586,452.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.83% of the stock is owned by corporate insiders.

About PulteGroup

(Free Report)

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, American West, and John Wieland Homes and Neighborhoods brand names.

See Also

Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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