Centiva Capital LP Makes New Investment in PulteGroup, Inc. (NYSE:PHM)

Centiva Capital LP acquired a new position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,337 shares of the construction company's stock, valued at approximately $2,324,000.

Several other hedge funds have also recently bought and sold shares of the company. Hager Investment Management Services LLC bought a new stake in shares of PulteGroup during the fourth quarter worth $29,000. Fortitude Family Office LLC raised its position in PulteGroup by 74.1% in the fourth quarter. Fortitude Family Office LLC now owns 322 shares of the construction company's stock valued at $35,000 after purchasing an additional 137 shares during the last quarter. TD Waterhouse Canada Inc. boosted its stake in shares of PulteGroup by 43.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company's stock valued at $38,000 after purchasing an additional 105 shares in the last quarter. R Squared Ltd bought a new stake in shares of PulteGroup during the fourth quarter worth about $39,000. Finally, Quarry LP acquired a new stake in PulteGroup during the 4th quarter worth about $43,000. 89.90% of the stock is owned by institutional investors.

PulteGroup Price Performance

PulteGroup stock traded up $2.61 during midday trading on Monday, reaching $105.08. 542,115 shares of the stock were exchanged, compared to its average volume of 1,992,831. The company's fifty day moving average is $101.13 and its 200-day moving average is $111.92. 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, Inc. has a 52 week low of $88.07 and a 52 week high of $149.47. The firm has a market cap of $21.06 billion, a PE ratio of 7.14, a PEG ratio of 0.29 and a beta of 1.37.

PulteGroup (NYSE:PHM - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The construction company reported $2.57 EPS for the quarter, topping the consensus estimate of $2.47 by $0.10. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. The business had revenue of $3.89 billion during the quarter, compared to analysts' expectations of $3.86 billion. During the same period in the previous year, the business earned $3.10 earnings per share. On average, sell-side analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 17th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend is Tuesday, June 17th. PulteGroup's dividend payout ratio is currently 6.21%.

PulteGroup announced that its Board of Directors has approved a share buyback plan on Thursday, January 30th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the construction company to reacquire up to 6.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. The Goldman Sachs Group decreased their target price on PulteGroup from $140.00 to $124.00 and set a "neutral" rating for the company in a research note on Tuesday, January 14th. Seaport Res Ptn upgraded shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 6th. Royal Bank of Canada decreased their price target on shares of PulteGroup from $116.00 to $109.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company decreased their price target on shares of PulteGroup from $140.00 to $120.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Finally, UBS Group reduced 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. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $134.69.

Insider Buying and Selling

In other news, EVP Todd N. Sheldon sold 15,191 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $106.50, for a total value of $1,617,841.50. Following the completion of the transaction, the executive vice president now owns 74,758 shares of the company's stock, valued at approximately $7,961,727. This represents a 16.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brien P. O'meara sold 3,500 shares of PulteGroup stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $106.40, for a total value of $372,400.00. Following the sale, the vice president now owns 11,372 shares in the company, valued at $1,209,980.80. This represents a 23.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.76% of the stock is owned by corporate insiders.

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.