PulteGroup, Inc. (NYSE:PHM) Shares Purchased by 1858 Wealth Management LLC

1858 Wealth Management LLC lifted its stake in PulteGroup, Inc. (NYSE:PHM) by 5.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,349 shares of the construction company’s stock after acquiring an additional 112 shares during the period. 1858 Wealth Management LLC’s holdings in PulteGroup were worth $256,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Fortitude Family Office LLC boosted its stake in PulteGroup by 115.1% during the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock valued at $27,000 after purchasing an additional 99 shares in the last quarter. Transcendent Capital Group LLC acquired a new stake in shares of PulteGroup in the third quarter valued at $29,000. R Squared Ltd bought a new position in PulteGroup during the fourth quarter valued at about $39,000. JNBA Financial Advisors acquired a new position in PulteGroup during the third quarter worth about $43,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in PulteGroup by 1,059.3% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 313 shares of the construction company’s stock worth $45,000 after acquiring an additional 286 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

Wall Street Analysts Forecast Growth

PHM has been the subject of several research reports. StockNews.com lowered shares of PulteGroup from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Evercore ISI reduced their target price on shares of PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. UBS Group upped their price target on PulteGroup from $148.00 to $151.00 and gave the company a “buy” rating in a report on Friday, January 31st. Wedbush reissued an “outperform” rating and set a $135.00 price objective on shares of PulteGroup in a research note on Friday, January 31st. Finally, Citigroup decreased their target price on PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $140.86.

PulteGroup Price Performance

NYSE PHM opened at $110.44 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.73. The firm has a market capitalization of $22.65 billion, a price-to-earnings ratio of 7.51, a price-to-earnings-growth ratio of 0.49 and a beta of 1.68. The company has a 50 day simple moving average of $117.15 and a 200-day simple moving average of $127.35. PulteGroup, Inc. has a 52-week low of $100.24 and a 52-week high of $149.47.

PulteGroup (NYSE:PHM) last released its earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts predict that PulteGroup, Inc. will post 13.34 earnings per share for the current fiscal year.

PulteGroup Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th were paid a $0.22 dividend. The ex-dividend date was Tuesday, December 17th. This represents a $0.88 dividend on an annualized basis and a yield of 0.80%. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. PulteGroup’s payout ratio is 5.98%.

PulteGroup announced that its board has authorized a share buyback program on Thursday, January 30th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the construction company to repurchase up to 6.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

About PulteGroup

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.