Shell Asset Management Co. Acquires 3,826 Shares of PulteGroup, Inc. (NYSE:PHM)

Shell Asset Management Co. grew its holdings in PulteGroup, Inc. (NYSE:PHM - Free Report) by 47.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PHM. Fifth Third Wealth Advisors LLC raised its holdings in shares of PulteGroup by 41.5% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 3,433 shares of the construction company's stock worth $374,000 after buying an additional 1,007 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its position in PulteGroup by 41.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 444 shares of the construction company's stock valued at $48,000 after acquiring an additional 131 shares during the period. Avanza Fonder AB acquired a new position in PulteGroup during the fourth quarter worth $2,502,000. Merit Financial Group LLC lifted its holdings in shares of PulteGroup by 416.0% during the fourth quarter. Merit Financial Group LLC now owns 12,775 shares of the construction company's stock valued at $1,391,000 after acquiring an additional 10,299 shares during the period. Finally, Brooklyn Investment Group boosted its stake in shares of PulteGroup by 18.0% in the 4th quarter. Brooklyn Investment Group now owns 1,217 shares of the construction company's stock valued at $131,000 after purchasing an additional 186 shares in the last quarter. 89.90% of the stock is owned by institutional investors.

PulteGroup Price Performance

Shares of PHM traded down $0.69 during mid-day trading on Friday, hitting $97.89. 409,299 shares of the company traded hands, compared to its average volume of 2,201,395. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $19.62 billion, a price-to-earnings ratio of 6.66, a PEG ratio of 0.29 and a beta of 1.37. The business has a 50-day moving average of $100.66 and a 200 day moving average of $110.45. PulteGroup, Inc. has a one year low of $88.07 and a one year high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The construction company reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.10. The firm had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.86 billion. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. During the same quarter in the prior year, the business earned $3.10 EPS. As a group, equities analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

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

PulteGroup announced that its Board of Directors has approved a share buyback program on Thursday, January 30th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the construction company to repurchase up to 6.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Barclays lowered their target price on shares of PulteGroup from $100.00 to $98.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 23rd. Royal Bank of Canada decreased their price objective on shares of PulteGroup from $116.00 to $109.00 and set a "sector perform" rating on the stock in a research note on Wednesday, April 23rd. Seaport Res Ptn upgraded shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research note on Thursday, March 6th. Wedbush reissued an "outperform" rating and issued a $135.00 target price on shares of PulteGroup in a report on Tuesday, April 22nd. Finally, Evercore ISI increased their price target on PulteGroup from $161.00 to $165.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 23rd. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, PulteGroup currently has a consensus rating of "Moderate Buy" and an average price target of $134.69.

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.