Hsbc Holdings PLC Has $149.93 Million Stake in PulteGroup, Inc. (NYSE:PHM)

Hsbc Holdings PLC raised its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 14.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,376,331 shares of the construction company's stock after buying an additional 170,498 shares during the quarter. Hsbc Holdings PLC owned approximately 0.67% of PulteGroup worth $149,925,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PHM. Hager Investment Management Services LLC acquired a new position in shares of PulteGroup during the fourth quarter worth approximately $29,000. Fortitude Family Office LLC raised its position in shares of 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 in the last quarter. TD Waterhouse Canada Inc. lifted 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 period. R Squared Ltd acquired a new position in shares of PulteGroup during the fourth quarter valued at approximately $39,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted 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 worth $48,000 after purchasing an additional 131 shares during the period. Institutional investors own 89.90% of the company's stock.

PulteGroup Trading Down 0.1 %

Shares of NYSE PHM traded down $0.07 during midday trading on Monday, hitting $101.82. The stock had a trading volume of 391,831 shares, compared to its average volume of 1,991,727. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. PulteGroup, Inc. has a fifty-two week low of $88.07 and a fifty-two week high of $149.47. The firm has a market cap of $20.61 billion, a P/E ratio of 6.90, a price-to-earnings-growth ratio of 0.29 and a beta of 1.44. The company's 50-day simple moving average is $101.37 and its 200 day simple moving average is $114.65.

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. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. The firm had revenue of $3.89 billion for the quarter, compared to analysts' expectations of $3.86 billion. During the same quarter last year, the business earned $3.10 earnings per share. Research analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup announced that its board has initiated a stock buyback program on Thursday, January 30th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the construction company to reacquire up to 6.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its stock is undervalued.

PulteGroup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th were paid a dividend of $0.22 per share. The ex-dividend date was Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a yield of 0.86%. PulteGroup's payout ratio is 6.21%.

Insiders Place Their Bets

In other news, VP Brien P. O'meara sold 3,500 shares of the firm's 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 transaction, the vice president now owns 11,372 shares in the company, valued at $1,209,980.80. This trade represents a 23.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian P. Anderson sold 2,500 shares of the company's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $106.45, for a total transaction of $266,125.00. Following the completion of the transaction, the director now owns 56,617 shares in the company, 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. In the last three months, insiders have sold 21,191 shares of company stock worth $2,256,367. Company insiders own 0.76% of the company's stock.

Analyst Ratings Changes

PHM has been the subject of a number of research analyst reports. Evercore ISI upped their price target on shares of PulteGroup from $161.00 to $165.00 and gave the company an "outperform" rating in a report on Wednesday, April 23rd. Wells Fargo & Company dropped their price target on PulteGroup from $140.00 to $120.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. 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. Oppenheimer decreased their price target on PulteGroup from $165.00 to $150.00 and set an "outperform" rating for the company in a research report on Friday, January 31st. Finally, Barclays decreased their price objective on shares of PulteGroup from $100.00 to $98.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 23rd. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average 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.