Price T Rowe Associates Inc. MD Acquires 177,801 Shares of PulteGroup, Inc. (NYSE:PHM)

Price T Rowe Associates Inc. MD raised its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 15.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,303,715 shares of the construction company's stock after purchasing an additional 177,801 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.64% of PulteGroup worth $141,976,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Hager Investment Management Services LLC purchased a new stake in shares of PulteGroup in the 4th quarter valued at about $29,000. Fortitude Family Office LLC lifted its position in shares of PulteGroup by 74.1% in the 4th quarter. Fortitude Family Office LLC now owns 322 shares of the construction company's stock worth $35,000 after purchasing an additional 137 shares during the period. TD Waterhouse Canada Inc. grew its stake in PulteGroup by 43.0% in the fourth quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company's stock worth $38,000 after purchasing an additional 105 shares during the period. R Squared Ltd purchased a new position in shares of PulteGroup during the fourth quarter valued at approximately $39,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its stake in PulteGroup by 41.9% in the 4th 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 in the last quarter. Hedge funds and other institutional investors own 89.90% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PHM shares. Barclays lowered their price objective on shares of PulteGroup from $100.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 23rd. Bank of America decreased their target price on PulteGroup from $135.00 to $134.00 and set a "buy" rating for the company in a research report on Monday, January 27th. Evercore ISI boosted their price target on PulteGroup from $161.00 to $165.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 23rd. Seaport Res Ptn raised shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research note on Thursday, March 6th. Finally, Wedbush reissued an "outperform" rating and issued a $135.00 price objective on shares of PulteGroup in a research note on Tuesday, April 22nd. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $134.69.

Insider Activity

In other PulteGroup news, EVP Todd N. Sheldon sold 15,191 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $106.50, for a total value of $1,617,841.50. Following the transaction, the executive vice president now owns 74,758 shares in the company, valued at approximately $7,961,727. This represents a 16.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brien P. O'meara sold 3,500 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $106.40, for a total transaction of $372,400.00. Following the transaction, the vice president now directly owns 11,372 shares in the company, valued at $1,209,980.80. The trade was a 23.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,191 shares of company stock valued at $2,256,367. Insiders own 0.76% of the company's stock.

PulteGroup Stock Up 2.2 %

NYSE:PHM traded up $2.29 on Friday, reaching $104.18. The stock had a trading volume of 456,498 shares, compared to its average volume of 1,994,084. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-month high of $149.47. The stock has a market cap of $20.88 billion, a P/E ratio of 7.08, a price-to-earnings-growth ratio of 0.29 and a beta of 1.44. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average of $101.24 and a 200 day moving average of $113.94.

PulteGroup (NYSE:PHM - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The construction company reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.10. The firm had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.86 billion. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. During the same period in the previous year, the company earned $3.10 earnings per share. On average, research analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current 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 paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.84%. PulteGroup's payout ratio is 6.21%.

PulteGroup declared that its board has approved 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 reacquire up to 6.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its stock is undervalued.

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.