Voloridge Investment Management LLC Takes Position in PulteGroup, Inc. (NYSE:PHM)

Voloridge Investment Management LLC purchased a new stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 432,808 shares of the construction company's stock, valued at approximately $47,133,000. Voloridge Investment Management LLC owned 0.21% of PulteGroup as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Hager Investment Management Services LLC acquired a new position in shares of PulteGroup during the fourth quarter valued at $29,000. TD Waterhouse Canada Inc. raised its position in PulteGroup by 43.0% in the fourth quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company's stock worth $38,000 after acquiring an additional 105 shares in the last quarter. R Squared Ltd bought a new stake in PulteGroup in the fourth quarter worth about $39,000. Quarry LP bought a new stake in PulteGroup in the fourth quarter worth about $43,000. Finally, Oakworth Capital Inc. raised its position in PulteGroup by 642.2% in the fourth quarter. Oakworth Capital Inc. now owns 475 shares of the construction company's stock worth $52,000 after acquiring an additional 411 shares in the last quarter. 89.90% of the stock is owned by institutional investors and hedge funds.

PulteGroup Stock Down 0.4%

NYSE:PHM traded down $0.35 on Friday, hitting $98.23. 1,389,728 shares of the company's stock traded hands, compared to its average volume of 2,006,357. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a 1 year low of $88.07 and a 1 year high of $149.47. The firm has a 50-day moving average price of $100.55 and a 200-day moving average price of $110.21. The company has a market cap of $19.69 billion, a PE ratio of 6.68, a price-to-earnings-growth ratio of 0.29 and a beta of 1.37.

PulteGroup (NYSE:PHM - Get Free Report) last released its earnings results on Tuesday, April 22nd. The construction company reported $2.57 earnings per share for the quarter, beating 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 company had revenue of $3.89 billion for the quarter, compared to analysts' expectations of $3.86 billion. During the same quarter in the previous year, the business posted $3.10 EPS. Equities analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup declared that its board has authorized a stock 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 shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.

PulteGroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Tuesday, June 17th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.88 annualized dividend and a yield of 0.90%. PulteGroup's dividend payout ratio (DPR) is presently 6.21%.

Analyst Ratings Changes

Several brokerages have commented on PHM. UBS Group dropped their price target on shares of PulteGroup from $151.00 to $141.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Oppenheimer dropped their price target on shares of PulteGroup from $165.00 to $150.00 and set an "outperform" rating on the stock in a research report on Friday, January 31st. Wells Fargo & Company dropped their price target on shares of PulteGroup from $140.00 to $120.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Bank of America dropped their price target on shares of PulteGroup from $135.00 to $134.00 and set a "buy" rating on the stock in a research report on Monday, January 27th. Finally, Royal Bank of Canada dropped their price target on shares of PulteGroup from $116.00 to $109.00 and set a "sector perform" rating on the stock in a research report on Wednesday, April 23rd. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $134.69.

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.