Lecap Asset Management Ltd. Purchases Shares of 18,619 PulteGroup, Inc. $PHM

Key Points

• Lecap Asset Management bought a new stake of 18,619 PulteGroup shares (~$2.18M) in Q4, representing about 0.9% of its portfolio and its 11th-largest holding.
• Analyst sentiment is broadly positive: 11 Buys vs. 6 Holds, giving a MarketBeat consensus rating of "Moderate Buy" and a consensus price target of $138.79.
• Institutional investors own about 89.9% of PHM while insiders sold ~149,952 shares (~$20.16M) in the past 90 days; PulteGroup trades at a P/E of 11.36 and pays a $0.26 quarterly dividend (≈0.8% yield).

Lecap Asset Management Ltd. purchased a new stake in PulteGroup, Inc. (NYSE:PHM - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 18,619 shares of the construction company's stock, valued at approximately $2,183,000. PulteGroup comprises approximately 0.9% of Lecap Asset Management Ltd.'s portfolio, making the stock its 11th biggest holding.

A number of other large investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its stake in PulteGroup by 5.0% in the third quarter. Franklin Resources Inc. now owns 12,900,271 shares of the construction company's stock valued at $1,704,513,000 after acquiring an additional 609,640 shares during the last quarter. First Trust Advisors LP lifted its stake in PulteGroup by 13.3% in the third quarter. First Trust Advisors LP now owns 3,623,917 shares of the construction company's stock valued at $478,828,000 after acquiring an additional 424,011 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in PulteGroup in the third quarter valued at $315,883,000. Bank of America Corp DE lifted its stake in PulteGroup by 13.1% in the second quarter. Bank of America Corp DE now owns 1,755,241 shares of the construction company's stock valued at $185,108,000 after acquiring an additional 202,870 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of PulteGroup by 120.4% in the third quarter. American Century Companies Inc. now owns 1,703,049 shares of the construction company's stock valued at $225,024,000 after purchasing an additional 930,287 shares during the period. Institutional investors and hedge funds own 89.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Barclays decreased their price target on shares of PulteGroup from $115.00 to $112.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 8th. UBS Group reissued a "buy" rating on shares of PulteGroup in a report on Thursday, March 12th. Evercore raised PulteGroup from an "in-line" rating to an "outperform" rating and set a $146.00 target price for the company in a report on Monday, April 13th. Royal Bank Of Canada raised their price target on shares of PulteGroup from $111.00 to $115.00 and gave the stock a "sector perform" rating in a research report on Friday, January 30th. Finally, The Goldman Sachs Group cut their price objective on shares of PulteGroup from $150.00 to $133.00 and set a "neutral" rating for the company in a report on Friday, April 10th. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $138.79.

PulteGroup Stock Performance

NYSE PHM opened at $126.29 on Friday. The firm's 50 day simple moving average is $126.54 and its 200 day simple moving average is $124.87. The firm has a market capitalization of $24.20 billion, a price-to-earnings ratio of 11.36, a P/E/G ratio of 1.41 and a beta of 1.33. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a 1 year low of $91.76 and a 1 year high of $144.49.

PulteGroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Tuesday, March 17th were paid a $0.26 dividend. The ex-dividend date was Tuesday, March 17th. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. PulteGroup's dividend payout ratio (DPR) is presently 9.35%.

Insider Buying and Selling

In related news, EVP Kevin A. Henry sold 5,173 shares of the company's stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $141.03, for a total transaction of $729,548.19. Following the completion of the sale, the executive vice president directly owned 14,673 shares in the company, valued at $2,069,333.19. This represents a 26.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ryan Marshall sold 111,250 shares of PulteGroup stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $133.86, for a total value of $14,891,925.00. Following the completion of the transaction, the insider owned 659,392 shares in the company, valued at approximately $88,266,213.12. This represents a 14.44% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 149,952 shares of company stock worth $20,162,165. 0.75% of the stock is owned by company insiders.

PulteGroup Company 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.