PFG Investments LLC Purchases Shares of 14,815 PulteGroup, Inc. (NYSE:PHM)

PFG Investments LLC bought a new position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 14,815 shares of the construction company's stock, valued at approximately $1,787,000.

Several other hedge funds have also recently added to or reduced their stakes in PHM. Raymond James & Associates grew its stake in shares of PulteGroup by 4.8% during the first quarter. Raymond James & Associates now owns 302,922 shares of the construction company's stock worth $36,538,000 after purchasing an additional 13,769 shares in the last quarter. Marshall Financial Group LLC lifted its holdings in PulteGroup by 6.0% during the 1st quarter. Marshall Financial Group LLC now owns 10,182 shares of the construction company's stock worth $1,228,000 after buying an additional 579 shares during the last quarter. FCG Investment Co boosted its position in shares of PulteGroup by 86.3% during the 1st quarter. FCG Investment Co now owns 5,139 shares of the construction company's stock worth $620,000 after acquiring an additional 2,381 shares in the last quarter. First Trust Direct Indexing L.P. increased its holdings in shares of PulteGroup by 2.1% in the 1st quarter. First Trust Direct Indexing L.P. now owns 7,502 shares of the construction company's stock valued at $905,000 after acquiring an additional 152 shares during the last quarter. Finally, Norden Group LLC acquired a new stake in shares of PulteGroup during the 1st quarter worth about $1,040,000. Institutional investors and hedge funds own 89.90% of the company's stock.

PulteGroup Stock Performance

NYSE:PHM traded up $2.44 during midday trading on Friday, reaching $113.80. The stock had a trading volume of 1,747,255 shares, compared to its average volume of 1,741,133. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.18. The stock has a market cap of $23.94 billion, a P/E ratio of 9.11, a P/E/G ratio of 0.51 and a beta of 1.56. The firm has a fifty day simple moving average of $111.28 and a two-hundred day simple moving average of $99.59. PulteGroup, Inc. has a 12-month low of $64.70 and a 12-month high of $121.07.

PulteGroup (NYSE:PHM - Get Free Report) last released its earnings results on Tuesday, January 30th. The construction company reported $3.28 EPS for the quarter, topping the consensus estimate of $3.21 by $0.07. The company had revenue of $4.29 billion during the quarter, compared to analysts' expectations of $4.47 billion. PulteGroup had a net margin of 16.63% and a return on equity of 25.81%. The business's revenue was down 15.5% on a year-over-year basis. During the same quarter last year, the business earned $3.63 EPS. On average, equities analysts expect that PulteGroup, Inc. will post 12.28 EPS for the current year.

PulteGroup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Friday, March 15th were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 0.70%. PulteGroup's dividend payout ratio is currently 6.41%.

PulteGroup declared that its Board of Directors has initiated a stock repurchase program on Tuesday, January 30th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the construction company to purchase up to 6.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PHM shares. UBS Group downgraded PulteGroup from a "buy" rating to a "neutral" rating and upped their price target for the company from $93.00 to $120.00 in a report on Thursday, January 4th. Wedbush reiterated a "neutral" rating and set a $85.00 price target on shares of PulteGroup in a research note on Wednesday, January 31st. StockNews.com upgraded shares of PulteGroup from a "hold" rating to a "buy" rating in a research note on Wednesday. Citigroup lifted their target price on PulteGroup from $116.00 to $127.00 and gave the stock a "neutral" rating in a research report on Friday, April 5th. Finally, Zelman & Associates raised PulteGroup from a "neutral" rating to an "outperform" rating in a report on Wednesday. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $111.73.

Insider Activity at PulteGroup

In other news, VP Brien P. O'meara sold 2,000 shares of the company's stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total transaction of $206,180.00. Following the transaction, the vice president now directly owns 15,389 shares of the company's stock, valued at approximately $1,586,452.01. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.83% 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.

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