Twinbeech Capital LP Acquires New Shares in PulteGroup, Inc. (NYSE:PHM)

Twinbeech Capital LP acquired a new position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 277,741 shares of the construction company's stock, valued at approximately $30,246,000. Twinbeech Capital LP owned about 0.14% of PulteGroup as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Nilsine Partners LLC increased its holdings in PulteGroup by 929.2% during the 4th quarter. Nilsine Partners LLC now owns 20,574 shares of the construction company's stock worth $2,240,000 after purchasing an additional 18,575 shares during the period. Argyle Capital Management LLC lifted its holdings in shares of PulteGroup by 1.5% in the 4th quarter. Argyle Capital Management LLC now owns 42,241 shares of the construction company's stock valued at $4,600,000 after buying an additional 641 shares during the period. Merit Financial Group LLC increased its stake in PulteGroup by 416.0% in the 4th quarter. Merit Financial Group LLC now owns 12,775 shares of the construction company's stock valued at $1,391,000 after purchasing an additional 10,299 shares in the last quarter. Wayfinding Financial LLC purchased a new position in PulteGroup in the 4th quarter valued at approximately $275,000. Finally, Impact Partnership Wealth LLC purchased a new position in PulteGroup during the fourth quarter worth $464,000. Hedge funds and other institutional investors own 89.90% of the company's stock.

PulteGroup Stock Performance

Shares of NYSE:PHM traded down $0.35 during midday trading on Friday, hitting $98.23. The company's stock had a trading volume of 1,389,728 shares, compared to its average volume of 2,006,357. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86. The stock's 50 day simple moving average is $100.55 and its 200 day simple moving average is $110.21. PulteGroup, Inc. has a fifty-two week low of $88.07 and a fifty-two week high of $149.47. The stock has a market capitalization of $19.69 billion, a price-to-earnings ratio of 6.68, a PEG ratio of 0.29 and a beta of 1.37.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The construction company reported $2.57 earnings per share for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $3.86 billion. During the same period in the previous year, the business earned $3.10 earnings per share. As a group, research analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup announced that its board has approved a share repurchase program on Thursday, January 30th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to reacquire up to 6.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

PulteGroup Announces Dividend

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

Wall Street Analysts Forecast Growth

PHM has been the topic of several analyst reports. Royal Bank of Canada decreased their price objective on PulteGroup from $116.00 to $109.00 and set a "sector perform" rating on the stock in a report on Wednesday, April 23rd. Oppenheimer lowered their price objective on PulteGroup from $165.00 to $150.00 and set an "outperform" rating for the company in a report on Friday, January 31st. Evercore ISI boosted their price objective on PulteGroup from $161.00 to $165.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 23rd. Wells Fargo & Company cut their target price on PulteGroup from $140.00 to $120.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Finally, Barclays dropped their price target on PulteGroup from $100.00 to $98.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 23rd. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average 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.