Wealthstreet Investment Advisors LLC acquired a new stake in PulteGroup, Inc. (NYSE:PHM) during the 4th quarter, Holdings Channel reports. The firm acquired 16,681 shares of the construction company’s stock, valued at approximately $555,000.
Several other hedge funds have also recently bought and sold shares of the stock. Invictus RG increased its holdings in PulteGroup by 1,473.4% during the 3rd quarter. Invictus RG now owns 4,264 shares of the construction company’s stock worth $117,000 after purchasing an additional 3,993 shares during the period. SeaCrest Wealth Management LLC purchased a new stake in PulteGroup during the 4th quarter worth about $119,000. National Pension Service purchased a new stake in PulteGroup during the 4th quarter worth about $138,000. Fieldpoint Private Securities LLC purchased a new stake in PulteGroup during the 3rd quarter worth about $150,000. Finally, Raymond James Trust N.A. purchased a new stake in PulteGroup during the 4th quarter worth about $200,000. Hedge funds and other institutional investors own 82.96% of the company’s stock.
Several equities research analysts have weighed in on PHM shares. UBS Group started coverage on PulteGroup in a report on Wednesday, October 25th. They set a “buy” rating and a $38.00 price target on the stock. Zacks Investment Research upgraded PulteGroup from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a report on Friday, October 27th. Mizuho upgraded PulteGroup from a “neutral” rating to a “buy” rating in a report on Thursday, January 18th. Citigroup downgraded PulteGroup from a “neutral” rating to a “sell” rating and set a $26.00 price target on the stock. in a report on Friday, October 20th. Finally, Wedbush restated a “neutral” rating and set a $22.00 price target (down previously from $27.00) on shares of PulteGroup in a report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $32.85.
PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, January 30th. The construction company reported $0.85 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.85. The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.82 billion. PulteGroup had a return on equity of 15.52% and a net margin of 5.22%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.67 EPS. research analysts predict that PulteGroup, Inc. will post 3.11 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Friday, March 16th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, March 15th. This represents a $0.36 annualized dividend and a dividend yield of 1.22%. PulteGroup’s dividend payout ratio is currently 25.00%.
PulteGroup declared that its board has initiated a stock buyback program on Tuesday, January 30th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the construction company to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.
In other news, CFO Robert Oshaughnessy sold 92,800 shares of the company’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $33.89, for a total transaction of $3,144,992.00. Following the completion of the transaction, the chief financial officer now directly owns 363,722 shares of the company’s stock, valued at approximately $12,326,538.58. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider James R. Ellinghausen sold 67,490 shares of the company’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $32.35, for a total value of $2,183,301.50. The disclosure for this sale can be found here. Corporate insiders own 0.71% of the company’s stock.
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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