PulteGroup, Inc. (NYSE:PHM) Stock Position Lessened by Broad Peak Investment Holdings Ltd.

Broad Peak Investment Holdings Ltd. decreased its holdings in PulteGroup, Inc. (NYSE:PHM) by 40.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 44,100 shares of the construction company’s stock after selling 29,900 shares during the quarter. PulteGroup accounts for approximately 0.7% of Broad Peak Investment Holdings Ltd.’s holdings, making the stock its 13th largest position. Broad Peak Investment Holdings Ltd.’s holdings in PulteGroup were worth $4,552,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of PHM. Aprio Wealth Management LLC lifted its holdings in shares of PulteGroup by 3.1% in 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 period. KMG Fiduciary Partners LLC lifted its holdings in shares of PulteGroup by 4.1% in 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 period. DNB Asset Management AS lifted its holdings in shares of PulteGroup by 0.3% in 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 period. Cascade Investment Advisors Inc. lifted its holdings in shares of PulteGroup by 1.6% in 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 period. Finally, Sugarloaf Wealth Management LLC lifted its holdings in shares of PulteGroup by 9.2% in 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 period. Institutional investors own 89.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Citigroup lowered PulteGroup from a “buy” rating to a “neutral” rating and upped their price objective for the company from $87.00 to $113.00 in a report on Monday, January 8th. The Goldman Sachs Group upped their price objective on shares of PulteGroup from $91.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, January 11th. Wedbush reissued a “neutral” rating and issued a $85.00 target price on shares of PulteGroup in a research report on Wednesday, January 31st. Raymond James upped their price target on shares of PulteGroup from $100.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Finally, Royal Bank of Canada raised their price objective on shares of PulteGroup from $103.00 to $106.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 31st. Six investment analysts have rated the stock with a hold rating and nine have issued 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 price target of $105.53.

PulteGroup Trading Down 1.5 %

Shares of PHM stock opened at $113.84 on Friday. PulteGroup, Inc. has a 12 month low of $57.26 and a 12 month high of $121.07. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.19. The business’s 50 day moving average is $109.10 and its two-hundred day moving average is $95.21. The company has a market cap of $24.02 billion, a PE ratio of 9.70, a price-to-earnings-growth ratio of 0.78 and a beta of 1.56.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, January 30th. The construction company reported $3.28 EPS for the quarter, beating the consensus estimate of $3.21 by $0.07. PulteGroup had a return on equity of 25.97% and a net margin of 16.20%. The company had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.47 billion. During the same quarter last year, the company posted $3.63 earnings per share. The company’s revenue for the quarter was down 15.5% compared to the same quarter last year. Equities analysts predict that PulteGroup, Inc. will post 11.78 EPS for the current year.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Friday, March 15th were paid a $0.20 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 0.70%. PulteGroup’s payout ratio is 6.81%.

PulteGroup announced that its Board of Directors has initiated a stock repurchase program on Tuesday, January 30th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 6.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Transactions at PulteGroup

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

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.