Ruffer LLP Makes New $3.17 Million Investment in PulteGroup, Inc. (NYSE:PHM)

Ruffer LLP bought a new stake in PulteGroup, Inc. (NYSE:PHM) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 29,132 shares of the construction company’s stock, valued at approximately $3,173,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC acquired a new stake in shares of PulteGroup during the third quarter worth $29,000. Hager Investment Management Services LLC acquired a new stake in PulteGroup during the 4th quarter worth about $29,000. Fortitude Family Office LLC boosted its stake in PulteGroup by 74.1% during the fourth quarter. Fortitude Family Office LLC now owns 322 shares of the construction company’s stock worth $35,000 after acquiring an additional 137 shares in the last quarter. R Squared Ltd bought a new position in shares of PulteGroup in the 4th quarter worth $39,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of PulteGroup by 41.9% in the fourth 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 during the last quarter. 89.90% of the stock is owned by institutional investors.

PulteGroup Stock Down 0.2 %

Shares of PulteGroup stock opened at $108.06 on Friday. The company’s fifty day simple moving average is $109.48 and its two-hundred day simple moving average is $124.09. The company has a market cap of $21.88 billion, a P/E ratio of 7.35, a PEG ratio of 0.29 and a beta of 1.71. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a 12-month low of $100.54 and a 12-month high of $149.47.

PulteGroup (NYSE:PHM) last announced its earnings results on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, beating analysts’ consensus estimates of $3.28 by $0.22. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. Research analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend is Tuesday, March 18th. PulteGroup’s payout ratio is currently 5.98%.

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

Analyst Upgrades and Downgrades

PHM has been the topic of several analyst reports. Wells Fargo & Company cut their price target on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Barclays reduced their target price on PulteGroup from $125.00 to $117.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Wedbush reiterated an “outperform” rating and set a $135.00 price target on shares of PulteGroup in a report on Friday, January 31st. UBS Group upped their price objective on PulteGroup from $148.00 to $151.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Finally, Bank of America lowered their target price on PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $140.86.

Insider Buying and Selling at PulteGroup

In other news, EVP Todd N. Sheldon sold 15,191 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $106.50, for a total value of $1,617,841.50. Following the completion of the sale, the executive vice president now owns 74,758 shares of the company’s stock, valued at $7,961,727. This trade represents a 16.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brian P. Anderson sold 2,500 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $106.45, for a total value of $266,125.00. Following the completion of the transaction, the director now owns 56,617 shares of the company’s stock, valued at approximately $6,026,879.65. The trade was a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,191 shares of company stock valued at $2,256,367 in the last three months. Company insiders own 0.75% of the company’s stock.

PulteGroup 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.