PulteGroup, Inc. (NYSE:PHM) Holdings Raised by Bayview Asset Management LLC

Bayview Asset Management LLC increased its stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 103.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,688 shares of the construction company's stock after buying an additional 5,938 shares during the quarter. PulteGroup comprises approximately 1.0% of Bayview Asset Management LLC's investment portfolio, making the stock its 7th biggest holding. Bayview Asset Management LLC's holdings in PulteGroup were worth $1,273,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Hager Investment Management Services LLC purchased a new stake in PulteGroup during the 4th quarter valued at about $29,000. Fortitude Family Office LLC boosted its position in PulteGroup by 74.1% in the fourth quarter. Fortitude Family Office LLC now owns 322 shares of the construction company's stock valued at $35,000 after buying an additional 137 shares during the last quarter. TD Waterhouse Canada Inc. increased its holdings in 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 buying an additional 105 shares during the period. R Squared Ltd purchased a new position in PulteGroup during the 4th quarter worth approximately $39,000. Finally, Quarry LP acquired a new stake in PulteGroup during the 4th quarter valued at approximately $43,000. 89.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on PHM. Bank of America decreased their target price on shares of PulteGroup from $135.00 to $134.00 and set a "buy" rating for the company in a research report on Monday, January 27th. Barclays lowered their target price on PulteGroup from $100.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 23rd. The Goldman Sachs Group reduced their price target on PulteGroup from $140.00 to $124.00 and set a "neutral" rating for the company in a research report on Tuesday, January 14th. UBS Group dropped their price objective on shares of PulteGroup from $151.00 to $141.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Finally, Royal Bank of Canada decreased their target price on shares of PulteGroup from $116.00 to $109.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 23rd. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $134.69.

PulteGroup Price Performance

Shares of NYSE PHM traded up $0.51 during mid-day trading on Wednesday, reaching $101.35. The company's stock had a trading volume of 1,652,835 shares, compared to its average volume of 1,996,568. The stock has a 50-day moving average of $101.15 and a two-hundred day moving average of $112.81. 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 has a market capitalization of $20.31 billion, a P/E ratio of 6.89, a P/E/G ratio of 0.29 and a beta of 1.37. PulteGroup, Inc. has a 1-year low of $88.07 and a 1-year high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The construction company reported $2.57 EPS for the quarter, beating analysts' consensus estimates of $2.47 by $0.10. The company had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.86 billion. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. During the same quarter in the prior year, the firm earned $3.10 EPS. On average, equities research analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Tuesday, June 17th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Tuesday, June 17th. PulteGroup's payout ratio is currently 6.21%.

PulteGroup declared that its board has authorized 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 purchase up to 6.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Brian P. Anderson sold 2,500 shares of the firm's stock in a transaction dated 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 sale, the director now directly owns 56,617 shares in the company, valued at approximately $6,026,879.65. This trade represents a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Todd N. Sheldon sold 15,191 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $106.50, for a total transaction of $1,617,841.50. Following the completion of the sale, the executive vice president now directly owns 74,758 shares of the company's stock, valued at approximately $7,961,727. This trade represents a 16.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,191 shares of company stock valued at $2,256,367 in the last three months. 0.76% of the stock is currently owned by insiders.

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.