Headlands Technologies LLC Takes $200,000 Position in PulteGroup, Inc. (NYSE:PHM)

Headlands Technologies LLC acquired a new stake in shares of PulteGroup, Inc. (NYSE:PHM) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,940 shares of the construction company’s stock, valued at approximately $200,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Pacer Advisors Inc. raised its stake in PulteGroup by 54.6% during the 4th quarter. Pacer Advisors Inc. now owns 3,003,713 shares of the construction company’s stock valued at $310,043,000 after purchasing an additional 1,060,466 shares during the period. Hsbc Holdings PLC raised its stake in PulteGroup by 63.6% during the 3rd quarter. Hsbc Holdings PLC now owns 1,748,119 shares of the construction company’s stock valued at $129,354,000 after purchasing an additional 679,582 shares during the period. Jupiter Asset Management Ltd. acquired a new stake in PulteGroup during the 3rd quarter valued at $47,762,000. Invesco Ltd. raised its stake in PulteGroup by 13.3% during the 3rd quarter. Invesco Ltd. now owns 4,432,965 shares of the construction company’s stock valued at $328,261,000 after purchasing an additional 522,032 shares during the period. Finally, QRG Capital Management Inc. acquired a new stake in PulteGroup during the 3rd quarter valued at $27,738,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

Insider Buying and Selling at PulteGroup

In related news, VP Brien P. O’meara sold 2,000 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total value of $206,180.00. Following the completion of the sale, the vice president now owns 15,389 shares in the company, valued at $1,586,452.01. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.75% of the company’s stock.

Wall Street Analyst Weigh In

PHM has been the topic of several recent analyst reports. Wedbush reissued a “neutral” rating and set a $85.00 target price on shares of PulteGroup in a research note on Wednesday, January 31st. Oppenheimer upped their price target on shares of PulteGroup from $138.00 to $143.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Royal Bank of Canada upped their price target on shares of PulteGroup from $106.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 24th. StockNews.com raised shares of PulteGroup from a “hold” rating to a “buy” rating in a research note on Wednesday, April 24th. Finally, Jefferies Financial Group upped their price target on shares of PulteGroup from $126.00 to $131.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, PulteGroup currently has an average rating of “Moderate Buy” and an average price target of $111.73.

PulteGroup Trading Up 2.2 %

Shares of NYSE:PHM opened at $113.80 on Monday. The stock has a market capitalization of $23.94 billion, a PE ratio of 9.11, a P/E/G ratio of 0.51 and a beta of 1.56. PulteGroup, Inc. has a 1 year low of $64.70 and a 1 year high of $121.07. The firm has a fifty day moving average price of $111.28 and a 200 day moving average price of $99.76. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18.

PulteGroup (NYSE:PHM) last released its quarterly earnings results 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 16.63% and a return on equity of 25.81%. The company had revenue of $4.29 billion during the quarter, compared to analysts’ expectations of $4.47 billion. During the same period in the prior year, the company earned $3.63 earnings per share. The business’s quarterly revenue was down 15.5% compared to the same quarter last year. Analysts expect that PulteGroup, Inc. will post 12.66 EPS for the current fiscal year.

PulteGroup announced that its board has authorized a share repurchase program on Tuesday, January 30th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the construction company to repurchase up to 6.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

PulteGroup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Friday, March 15th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend was Thursday, March 14th. PulteGroup’s dividend payout ratio (DPR) is 6.41%.

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.