Shell Asset Management Co. Has $1.29 Million Holdings in PulteGroup, Inc. (NYSE:PHM)

Shell Asset Management Co. raised its position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 47.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,883 shares of the construction company's stock after buying an additional 3,826 shares during the quarter. Shell Asset Management Co.'s holdings in PulteGroup were worth $1,294,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of PHM. Richardson Financial Services Inc. increased its stake in shares of PulteGroup by 16.7% in the 4th quarter. Richardson Financial Services Inc. now owns 622 shares of the construction company's stock worth $68,000 after acquiring an additional 89 shares during the last quarter. Premier Path Wealth Partners LLC increased its stake in shares of PulteGroup by 3.8% in the 4th quarter. Premier Path Wealth Partners LLC now owns 2,572 shares of the construction company's stock worth $280,000 after acquiring an additional 95 shares during the last quarter. Meridian Wealth Management LLC increased its stake in shares of PulteGroup by 0.7% in the 4th quarter. Meridian Wealth Management LLC now owns 13,224 shares of the construction company's stock worth $1,440,000 after acquiring an additional 95 shares during the last quarter. Fidelis Capital Partners LLC increased its stake in shares of PulteGroup by 2.4% in the 4th quarter. Fidelis Capital Partners LLC now owns 4,384 shares of the construction company's stock worth $479,000 after acquiring an additional 103 shares during the last quarter. Finally, TD Waterhouse Canada Inc. increased its stake in shares of PulteGroup by 43.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company's stock worth $38,000 after acquiring an additional 105 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PHM. Wells Fargo & Company cut their price objective on PulteGroup from $140.00 to $120.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. UBS Group cut their price objective on PulteGroup from $151.00 to $141.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Bank of America cut their price objective on PulteGroup from $135.00 to $134.00 and set a "buy" rating for the company in a research report on Monday, January 27th. Royal Bank of Canada cut their price objective on PulteGroup from $116.00 to $109.00 and set a "sector perform" rating for the company in a research report on Wednesday, April 23rd. Finally, Barclays cut their price objective on PulteGroup from $100.00 to $98.00 and set an "equal weight" rating for the company in a research 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 stock. According to data from MarketBeat.com, PulteGroup currently has a consensus rating of "Moderate Buy" and an average target price of $134.69.

PulteGroup Price Performance

PHM stock traded down $1.90 during trading hours on Tuesday, hitting $101.17. 1,283,288 shares of the stock traded hands, compared to its average volume of 1,998,474. The stock has a 50-day simple moving average of $100.85 and a 200 day simple moving average of $110.74. PulteGroup, Inc. has a one year low of $88.07 and a one year high of $149.47. The company has a market cap of $20.28 billion, a P/E ratio of 6.88, a P/E/G ratio of 0.29 and a beta of 1.37. 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 (NYSE:PHM - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The construction company reported $2.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.47 by $0.10. The business had revenue of $3.89 billion for the quarter, compared to analysts' expectations of $3.86 billion. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. During the same period in the previous year, the firm posted $3.10 EPS. Equities analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Tuesday, June 17th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.87%. PulteGroup's dividend payout ratio is 6.21%.

PulteGroup announced that its board has initiated a share repurchase plan on Thursday, January 30th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the construction company to reacquire up to 6.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's management believes its shares are undervalued.

PulteGroup 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.