Prana Capital Management LP Buys 134,263 Shares of PulteGroup, Inc. (NYSE:PHM)

Prana Capital Management LP raised its position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 295.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 179,685 shares of the construction company's stock after purchasing an additional 134,263 shares during the period. Prana Capital Management LP owned 0.09% of PulteGroup worth $19,568,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Franklin Resources Inc. raised its stake in PulteGroup by 6.1% during the 4th quarter. Franklin Resources Inc. now owns 11,937,866 shares of the construction company's stock valued at $1,300,034,000 after acquiring an additional 683,592 shares in the last quarter. Geode Capital Management LLC raised its holdings in PulteGroup by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 5,120,878 shares of the construction company's stock worth $556,465,000 after purchasing an additional 64,947 shares in the last quarter. Norges Bank bought a new position in PulteGroup during the 4th quarter valued at $427,562,000. Northern Trust Corp increased its position in shares of PulteGroup by 14.9% during the 4th quarter. Northern Trust Corp now owns 2,425,941 shares of the construction company's stock valued at $264,185,000 after purchasing an additional 315,148 shares during the period. Finally, Deutsche Bank AG raised its stake in shares of PulteGroup by 14.3% in the 4th quarter. Deutsche Bank AG now owns 1,859,029 shares of the construction company's stock worth $202,448,000 after buying an additional 232,939 shares in the last quarter. Institutional investors own 89.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PHM shares. Bank of America lowered their price objective on shares of PulteGroup from $135.00 to $134.00 and set a "buy" rating on the stock in a research note on Monday, January 27th. Barclays reduced their target price on shares of PulteGroup from $100.00 to $98.00 and set an "equal weight" rating for the company in a report on Wednesday, April 23rd. Oppenheimer dropped their price target on PulteGroup from $165.00 to $150.00 and set an "outperform" rating on the stock in a report on Friday, January 31st. Seaport Res Ptn upgraded PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 6th. Finally, Wells Fargo & Company decreased their target price on PulteGroup from $140.00 to $120.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $134.69.

PulteGroup Stock Performance

Shares of PHM traded down $0.86 on Tuesday, reaching $102.21. 341,081 shares of the stock traded hands, compared to its average volume of 2,203,455. The stock's 50-day moving average price is $100.85 and its 200-day moving average price is $110.81. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market cap of $20.49 billion, a price-to-earnings ratio of 6.95, a P/E/G ratio of 0.29 and a beta of 1.37. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The construction company reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.10. The firm had revenue of $3.89 billion for the quarter, compared to analyst estimates 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 previous year, the firm posted $3.10 EPS. Equities analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup announced that its board has authorized a share repurchase plan on Thursday, January 30th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 6.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

PulteGroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 17th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.86%. The ex-dividend date is Tuesday, June 17th. PulteGroup's dividend payout ratio (DPR) is presently 6.21%.

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.