Bristlecone Advisors LLC Buys 799 Shares of PulteGroup, Inc. (NYSE:PHM)

Bristlecone Advisors LLC increased its stake in PulteGroup, Inc. (NYSE:PHM) by 47.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,479 shares of the construction company’s stock after purchasing an additional 799 shares during the period. Bristlecone Advisors LLC’s holdings in PulteGroup were worth $270,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Entropy Technologies LP bought a new position in shares of PulteGroup in the fourth quarter worth approximately $1,299,000. Vest Financial LLC increased its position in shares of PulteGroup by 111.5% in the fourth quarter. Vest Financial LLC now owns 22,159 shares of the construction company’s stock worth $2,413,000 after purchasing an additional 11,682 shares during the last quarter. NatWest Group plc grew its position in PulteGroup by 0.8% during the fourth quarter. NatWest Group plc now owns 62,547 shares of the construction company’s stock valued at $6,811,000 after acquiring an additional 525 shares during the last quarter. Generate Investment Management Ltd grew its position in PulteGroup by 13.2% during the fourth quarter. Generate Investment Management Ltd now owns 113,497 shares of the construction company’s stock valued at $12,360,000 after acquiring an additional 13,203 shares during the last quarter. Finally, Lecap Asset Management Ltd. bought a new position in PulteGroup during the fourth quarter valued at approximately $2,257,000. 89.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Seaport Res Ptn cut shares of PulteGroup from a “hold” rating to a “strong sell” rating in a research report on Monday, January 27th. Evercore ISI reduced their price target on shares of PulteGroup from $198.00 to $195.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Oppenheimer reduced their price target on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday, January 31st. BTIG Research increased their price target on shares of PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Barclays reduced their price target on shares of PulteGroup from $125.00 to $117.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, PulteGroup currently has an average rating of “Moderate Buy” and a consensus target price of $140.86.

PulteGroup Stock Performance

Shares of PHM stock opened at $106.55 on Tuesday. The stock has a fifty day moving average of $115.02 and a 200 day moving average of $126.92. PulteGroup, Inc. has a 52 week low of $100.24 and a 52 week high of $149.47. The firm has a market capitalization of $21.85 billion, a price-to-earnings ratio of 7.24, a PEG ratio of 0.29 and a beta of 1.68. The company has a quick ratio of 0.73, a current ratio of 0.86 and a debt-to-equity ratio of 0.13.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, topping analysts’ consensus estimates of $3.28 by $0.22. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. As a group, research analysts expect that PulteGroup, Inc. will post 12.43 earnings per share for the current year.

PulteGroup declared that its board has initiated a share repurchase program on Thursday, January 30th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the construction company to reacquire up to 6.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

PulteGroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be issued a $0.22 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a yield of 0.83%. PulteGroup’s dividend payout ratio (DPR) is 5.98%.

PulteGroup Company 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.