Signaturefd LLC purchased a new stake in PulteGroup (NYSE:PHM) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 3,601 shares of the construction company’s stock, valued at approximately $106,000.
Other large investors have also bought and sold shares of the company. Focused Wealth Management Inc bought a new stake in shares of PulteGroup in the 4th quarter valued at about $113,000. SeaCrest Wealth Management LLC bought a new stake in shares of PulteGroup in the 4th quarter valued at about $119,000. National Pension Service bought a new stake in shares of PulteGroup in the 4th quarter valued at about $138,000. Raymond James Trust N.A. bought a new stake in shares of PulteGroup in the 4th quarter valued at about $200,000. Finally, First Republic Investment Management Inc. bought a new stake in shares of PulteGroup in the 4th quarter valued at about $205,000. Institutional investors and hedge funds own 84.63% of the company’s stock.
Several research analysts recently commented on PHM shares. Credit Suisse Group set a $35.00 price objective on shares of PulteGroup and gave the stock a “buy” rating in a research note on Tuesday, April 24th. Royal Bank of Canada reiterated a “buy” rating and set a $35.00 price objective on shares of PulteGroup in a research note on Monday, March 26th. JPMorgan Chase boosted their price objective on shares of PulteGroup from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, April 26th. ValuEngine lowered shares of PulteGroup from a “buy” rating to a “hold” rating in a research note on Wednesday, May 16th. Finally, Zacks Investment Research lowered shares of PulteGroup from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $35.21.
NYSE:PHM opened at $29.48 on Wednesday. The company has a market cap of $8.54 billion, a price-to-earnings ratio of 13.46, a P/E/G ratio of 0.50 and a beta of 1.03. PulteGroup has a twelve month low of $22.52 and a twelve month high of $35.21.
PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, April 24th. The construction company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.15. The company had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.84 billion. PulteGroup had a net margin of 5.91% and a return on equity of 17.48%. PulteGroup’s revenue was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.31 EPS. equities analysts expect that PulteGroup will post 3.31 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 5th. Shareholders of record on Thursday, June 7th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.22%. The ex-dividend date is Wednesday, June 6th. PulteGroup’s dividend payout ratio is presently 16.44%.
PulteGroup announced that its board has authorized a stock repurchase program on Tuesday, January 30th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the construction company to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company is involved in the acquisition and development of land primarily for residential purposes; and the construction of housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods names.
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