FORA Capital LLC Invests $1.31 Million in PulteGroup, Inc. (NYSE:PHM)

FORA Capital LLC acquired a new position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 11,983 shares of the construction company's stock, valued at approximately $1,305,000.

A number of other institutional investors have also recently added to or reduced their stakes in PHM. Fortitude Family Office LLC grew its stake in PulteGroup by 74.1% during the 4th quarter. Fortitude Family Office LLC now owns 322 shares of the construction company's stock worth $35,000 after buying an additional 137 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of PulteGroup by 3.2% in the fourth quarter. Harbor Capital Advisors Inc. now owns 4,559 shares of the construction company's stock worth $496,000 after purchasing an additional 143 shares in the last quarter. Sugarloaf Wealth Management LLC grew its stake in shares of PulteGroup by 10.9% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 1,913 shares of the construction company's stock worth $208,000 after purchasing an additional 188 shares in the last quarter. West Oak Capital LLC grew its stake in shares of PulteGroup by 1,876.5% in the fourth quarter. West Oak Capital LLC now owns 1,680 shares of the construction company's stock worth $183,000 after purchasing an additional 1,595 shares in the last quarter. Finally, Czech National Bank grew its stake in shares of PulteGroup by 5.2% in the fourth quarter. Czech National Bank now owns 44,466 shares of the construction company's stock worth $4,842,000 after purchasing an additional 2,192 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PHM shares. Wells Fargo & Company decreased their price target on PulteGroup from $140.00 to $120.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. The Goldman Sachs Group decreased their price target on PulteGroup from $140.00 to $124.00 and set a "neutral" rating for the company in a research note on Tuesday, January 14th. Oppenheimer decreased their price target on PulteGroup from $165.00 to $150.00 and set an "outperform" rating for the company in a research note on Friday, January 31st. UBS Group decreased their price target on PulteGroup from $151.00 to $141.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Finally, Evercore ISI upped their price objective on PulteGroup from $161.00 to $165.00 and gave the company an "outperform" rating 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, PulteGroup presently has an average rating of "Moderate Buy" and an average target price of $134.69.

PulteGroup Trading Down 0.8%

Shares of NYSE PHM traded down $0.79 during mid-day trading on Friday, hitting $102.57. 1,157,169 shares of the company traded hands, compared to its average volume of 1,998,551. PulteGroup, Inc. has a 1 year low of $88.07 and a 1 year high of $149.47. The stock has a market capitalization of $20.56 billion, a price-to-earnings ratio of 6.97, a PEG ratio of 0.29 and a beta of 1.37. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average of $101.13 and a two-hundred day moving average of $111.92.

PulteGroup (NYSE:PHM - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The construction company reported $2.57 EPS for the quarter, beating the consensus estimate of $2.47 by $0.10. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. The business had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.86 billion. During the same period in the prior year, the business posted $3.10 earnings per share. On average, sell-side analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The business also recently announced 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. This represents a $0.88 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Tuesday, June 17th. PulteGroup's dividend payout ratio is 6.21%.

PulteGroup announced that its Board of Directors has initiated a stock repurchase program on Thursday, January 30th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to purchase up to 6.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its shares are undervalued.

Insider Activity

In related news, VP Brien P. O'meara sold 3,500 shares of the stock in a transaction dated 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 represents a 23.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brian P. Anderson sold 2,500 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $106.45, for a total value of $266,125.00. Following the completion of the sale, the director now directly owns 56,617 shares of the company's stock, valued at approximately $6,026,879.65. This represents a 4.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,191 shares of company stock valued at $2,256,367 over the last three months. Insiders own 0.76% of the company's stock.

About PulteGroup

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.