Bank of New York Mellon Corp grew its stake in PulteGroup, Inc. (NYSE:PHM) by 26.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,562,243 shares of the construction company’s stock after buying an additional 735,368 shares during the quarter. Bank of New York Mellon Corp owned 1.24% of PulteGroup worth $118,444,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in PHM. Janus Henderson Group PLC boosted its stake in shares of PulteGroup by 747.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,323,075 shares of the construction company’s stock valued at $36,159,000 after buying an additional 1,166,885 shares during the period. Cornerstone Capital Management Holdings LLC. boosted its stake in shares of PulteGroup by 2,015.5% in the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 1,046,201 shares of the construction company’s stock valued at $28,591,000 after buying an additional 996,747 shares during the period. Hennessy Advisors Inc. purchased a new position in shares of PulteGroup in the 4th quarter valued at about $32,668,000. Todd Asset Management LLC boosted its stake in shares of PulteGroup by 117.0% in the 3rd quarter. Todd Asset Management LLC now owns 1,680,010 shares of the construction company’s stock valued at $45,915,000 after buying an additional 905,952 shares during the period. Finally, Capital Growth Management LP boosted its stake in shares of PulteGroup by 90.0% in the 3rd quarter. Capital Growth Management LP now owns 1,900,000 shares of the construction company’s stock valued at $51,927,000 after buying an additional 900,000 shares during the period. Institutional investors and hedge funds own 85.54% of the company’s stock.
In related news, Director Patrick J. Oleary sold 8,677 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $30.03, for a total transaction of $260,570.31. Following the transaction, the director now owns 90,687 shares of the company’s stock, valued at $2,723,330.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.71% of the company’s stock.
PulteGroup, Inc. (PHM) opened at $30.44 on Wednesday. The stock has a market capitalization of $8,605.41, a P/E ratio of 21.14, a PEG ratio of 0.47 and a beta of 1.12. PulteGroup, Inc. has a twelve month low of $21.41 and a twelve month high of $35.21.
PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, January 30th. The construction company reported $0.85 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.85. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.82 billion. PulteGroup had a return on equity of 15.52% and a net margin of 5.22%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 earnings per share. research analysts anticipate that PulteGroup, Inc. will post 3.11 earnings per share for the current fiscal year.
PulteGroup declared that its Board of Directors has authorized a share buyback program on Tuesday, January 30th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the construction company to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 3rd. Investors of record on Friday, March 16th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Thursday, March 15th. PulteGroup’s dividend payout ratio is presently 25.00%.
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PulteGroup, Inc is a homebuilder in the United States. The Company’s segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land.
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