Adage Capital Partners GP L.L.C. increased its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 21.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 61,600 shares of the construction company's stock after buying an additional 11,000 shares during the period. Adage Capital Partners GP L.L.C.'s holdings in PulteGroup were worth $6,708,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Coppell Advisory Solutions LLC grew its position in PulteGroup by 10.0% in the fourth quarter. Coppell Advisory Solutions LLC now owns 1,271 shares of the construction company's stock worth $138,000 after acquiring an additional 116 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its position in PulteGroup by 14.9% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 15,380 shares of the construction company's stock worth $1,675,000 after acquiring an additional 1,990 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in PulteGroup by 15.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,303,715 shares of the construction company's stock worth $141,976,000 after acquiring an additional 177,801 shares in the last quarter. Aldebaran Financial Inc. grew its position in PulteGroup by 12.9% in the fourth quarter. Aldebaran Financial Inc. now owns 6,055 shares of the construction company's stock worth $659,000 after acquiring an additional 690 shares in the last quarter. Finally, Harvest Investment Services LLC grew its position in PulteGroup by 125.5% in the fourth quarter. Harvest Investment Services LLC now owns 32,265 shares of the construction company's stock worth $3,514,000 after acquiring an additional 17,955 shares in the last quarter. Institutional investors own 89.90% of the company's stock.
PulteGroup Price Performance
NYSE:PHM opened at $102.51 on Tuesday. The company has a 50-day moving average of $101.33 and a 200-day moving average of $114.39. The company has a market capitalization of $20.55 billion, a price-to-earnings ratio of 6.97, a PEG ratio of 0.29 and a beta of 1.44. PulteGroup, Inc. has a 52 week low of $88.07 and a 52 week high of $149.47. 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 - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The construction company reported $2.57 EPS for the quarter, topping analysts' consensus estimates of $2.47 by $0.10. The company had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.86 billion. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. During the same period last year, the firm earned $3.10 EPS. As a group, equities research analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.
PulteGroup Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date was Tuesday, March 18th. PulteGroup's dividend payout ratio (DPR) is currently 6.21%.
PulteGroup announced that its board has authorized a stock repurchase plan on Thursday, January 30th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the construction company to reacquire up to 6.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.
Analysts Set New Price Targets
Several analysts recently issued reports on PHM shares. Bank of America decreased their price objective on shares of PulteGroup from $135.00 to $134.00 and set a "buy" rating for the company in a report on Monday, January 27th. UBS Group decreased their price objective 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. Wedbush reaffirmed an "outperform" rating and set a $135.00 price objective on shares of PulteGroup in a report on Tuesday, April 22nd. The Goldman Sachs Group decreased their price objective on shares of PulteGroup from $140.00 to $124.00 and set a "neutral" rating for the company in a report on Tuesday, January 14th. Finally, Wells Fargo & Company decreased their price objective on shares of PulteGroup from $140.00 to $120.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $134.69.
Check Out Our Latest Research Report on PHM
Insider Buying and Selling
In related news, Director Brian P. Anderson sold 2,500 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $106.45, for a total transaction of $266,125.00. Following the completion of the sale, the director now owns 56,617 shares in the company, valued at $6,026,879.65. This trade represents a 4.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Todd N. Sheldon sold 15,191 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $106.50, for a total transaction of $1,617,841.50. Following the sale, the executive vice president now owns 74,758 shares of the company's stock, valued at $7,961,727. This trade represents a 16.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,191 shares of company stock worth $2,256,367 in the last quarter. 0.76% of the stock is owned by corporate insiders.
About PulteGroup
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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, John Wieland Homes and Neighborhoods, and American West brand names.
Further Reading
Want to see what other hedge funds are holding PHM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PulteGroup, Inc. (NYSE:PHM - Free Report).
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