FORA Capital LLC Purchases New Stake in PulteGroup, Inc. (NYSE:PHM)

FORA Capital LLC purchased a new position in PulteGroup, Inc. (NYSE:PHM - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 11,983 shares of the construction company's stock, valued at approximately $1,305,000.

Other large investors have also recently made changes to their positions in the company. Richardson Financial Services Inc. lifted its position 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 purchasing an additional 89 shares during the period. Premier Path Wealth Partners LLC lifted its holdings in PulteGroup by 3.8% during the fourth quarter. Premier Path Wealth Partners LLC now owns 2,572 shares of the construction company's stock worth $280,000 after buying an additional 95 shares during the period. Meridian Wealth Management LLC lifted its stake in shares of PulteGroup by 0.7% during the 4th quarter. Meridian Wealth Management LLC now owns 13,224 shares of the construction company's stock worth $1,440,000 after purchasing an additional 95 shares during the last quarter. Fidelis Capital Partners LLC lifted its stake in shares of PulteGroup by 2.4% during the 4th quarter. Fidelis Capital Partners LLC now owns 4,384 shares of the construction company's stock worth $479,000 after purchasing an additional 103 shares during the last quarter. Finally, TD Waterhouse Canada Inc. lifted its stake in shares of PulteGroup by 43.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company's stock worth $38,000 after purchasing an additional 105 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. Barclays decreased their price target on shares of PulteGroup from $100.00 to $98.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 23rd. Royal Bank of Canada decreased their price target on PulteGroup from $116.00 to $109.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 23rd. Evercore ISI raised their price objective on PulteGroup from $161.00 to $165.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 23rd. Bank of America reduced their price objective on PulteGroup from $135.00 to $134.00 and set a "buy" rating for the company in a research note on Monday, January 27th. Finally, Wells Fargo & Company decreased their price objective on shares of PulteGroup from $140.00 to $120.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, PulteGroup has a consensus rating of "Moderate Buy" and a consensus target price of $134.69.

PulteGroup Stock Down 2.7%

Shares of NYSE PHM traded down $2.91 during midday trading on Wednesday, reaching $103.54. 774,643 shares of the company's stock were exchanged, compared to its average volume of 1,996,613. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $149.47. The stock has a market capitalization of $20.75 billion, a PE ratio of 7.04, a price-to-earnings-growth ratio of 0.29 and a beta of 1.37. 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 business's fifty day moving average price is $101.10 and its two-hundred day moving average price is $111.70.

PulteGroup (NYSE:PHM - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The construction company reported $2.57 EPS for the quarter, topping analysts' consensus estimates of $2.47 by $0.10. The business had revenue of $3.89 billion during 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 period last year, the firm earned $3.10 earnings per share. Analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current year.

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 issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Tuesday, June 17th. PulteGroup's payout ratio is currently 6.21%.

PulteGroup announced that its Board of Directors has authorized a share repurchase plan on Thursday, January 30th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the construction company to purchase up to 6.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, EVP Todd N. Sheldon sold 15,191 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $106.50, for a total value of $1,617,841.50. Following the completion of the transaction, the executive vice president now owns 74,758 shares in the company, valued at $7,961,727. This trade represents a 16.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Brien P. O'meara sold 3,500 shares of the firm's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $106.40, for a total value of $372,400.00. Following the completion of the sale, the vice president now directly owns 11,372 shares of the company's stock, valued at approximately $1,209,980.80. This trade represents a 23.53% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.76% of the company's stock.

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.