AlphaQuest LLC Acquires 9,714 Shares of PulteGroup, Inc. $PHM

Key Points

• AlphaQuest LLC boosted its PulteGroup stake by 384.7% in the fourth quarter, buying 9,714 additional shares and bringing its total holdings to 12,239 shares worth about $1.435 million.
• PulteGroup’s latest quarterly results were mixed: it reported $1.79 EPS, missing estimates by a penny, while revenue of $3.41 billion came in slightly ahead of expectations but was down 12.4% year over year.
• The company’s board approved a $1.5 billion share repurchase program and it also declared a quarterly dividend of $0.26 per share, underscoring ongoing capital returns to shareholders.

AlphaQuest LLC lifted its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 384.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,239 shares of the construction company's stock after acquiring an additional 9,714 shares during the quarter. AlphaQuest LLC's holdings in PulteGroup were worth $1,435,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PHM. Rachor Investment Advisory Services LLC bought a new position in shares of PulteGroup during the fourth quarter valued at approximately $31,000. Lloyd Advisory Services LLC. bought a new position in shares of PulteGroup during the fourth quarter valued at approximately $33,000. High Point Wealth Management LLC bought a new position in shares of PulteGroup during the fourth quarter valued at approximately $38,000. Beacon Financial Strategies CORP bought a new position in shares of PulteGroup during the fourth quarter valued at approximately $40,000. Finally, Elyxium Wealth LLC bought a new position in shares of PulteGroup during the fourth quarter valued at approximately $41,000. Institutional investors own 89.90% of the company's stock.

Insider Activity

In related news, COO Matthew William Koart sold 7,457 shares of PulteGroup stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $120.00, for a total value of $894,840.00. Following the completion of the sale, the chief operating officer directly owned 28,100 shares in the company, valued at approximately $3,372,000. This trade represents a 20.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lila Snyder sold 3,339 shares of PulteGroup stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $117.18, for a total value of $391,264.02. Following the completion of the sale, the director owned 3,540 shares of the company's stock, valued at $414,817.20. The trade was a 48.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.75% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PHM has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their target price on PulteGroup from $132.00 to $140.00 and gave the company an "overweight" rating in a report on Friday, April 24th. The Goldman Sachs Group raised their price objective on PulteGroup from $133.00 to $142.00 and gave the company a "neutral" rating in a research report on Friday, April 24th. Royal Bank Of Canada raised their price objective on PulteGroup from $111.00 to $115.00 and gave the company a "sector perform" rating in a research report on Friday, January 30th. Oppenheimer reissued an "outperform" rating on shares of PulteGroup in a research report on Tuesday. Finally, Zacks Research raised PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Monday, April 13th. Ten investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, PulteGroup currently has a consensus rating of "Moderate Buy" and a consensus price target of $140.71.

PulteGroup Price Performance

Shares of NYSE:PHM opened at $119.06 on Thursday. PulteGroup, Inc. has a 1-year low of $95.20 and a 1-year high of $144.49. The business has a fifty day moving average price of $119.08 and a 200-day moving average price of $124.07. The company has a market capitalization of $22.68 billion, a PE ratio of 11.51, a PEG ratio of 1.49 and a beta of 1.23. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.94 and a quick ratio of 0.94.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The construction company reported $1.79 EPS for the quarter, missing the consensus estimate of $1.80 by ($0.01). PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.The business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the previous year, the business posted $2.57 earnings per share. PulteGroup's quarterly revenue was down 12.4% compared to the same quarter last year. As a group, equities analysts expect that PulteGroup, Inc. will post 10 EPS for the current fiscal year.

PulteGroup announced that its board has approved a stock repurchase program on Thursday, April 23rd that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to purchase up to 6.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board believes its shares are undervalued.

PulteGroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Tuesday, June 16th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, June 16th. PulteGroup's dividend payout ratio (DPR) is presently 10.06%.

PulteGroup Profile

PulteGroup, Inc NYSE: PHM is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.