Holocene Advisors LP increased its position in shares of PulteGroup, Inc. (NYSE:PHM) by 3.7% during the first quarter, Holdings Channel.com reports. The fund owned 79,045 shares of the construction company’s stock after acquiring an additional 2,797 shares during the quarter. Holocene Advisors LP’s holdings in PulteGroup were worth $4,145,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in PulteGroup by 10.4% during the 1st quarter. BlackRock Inc. now owns 26,216,724 shares of the construction company’s stock worth $1,374,805,000 after acquiring an additional 2,476,016 shares during the period. Dimensional Fund Advisors LP boosted its position in PulteGroup by 2.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,431,874 shares of the construction company’s stock worth $337,305,000 after acquiring an additional 181,316 shares during the period. Putnam Investments LLC boosted its position in PulteGroup by 8.4% during the 1st quarter. Putnam Investments LLC now owns 6,272,633 shares of the construction company’s stock worth $328,937,000 after acquiring an additional 486,461 shares during the period. Geode Capital Management LLC boosted its position in PulteGroup by 2.2% during the 1st quarter. Geode Capital Management LLC now owns 5,736,427 shares of the construction company’s stock worth $300,203,000 after acquiring an additional 123,658 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in shares of PulteGroup by 22.4% during the 1st quarter. Alliancebernstein L.P. now owns 5,265,360 shares of the construction company’s stock valued at $276,115,000 after buying an additional 963,338 shares during the last quarter. Institutional investors and hedge funds own 85.18% of the company’s stock.
PHM opened at $52.85 on Thursday. The company has a market capitalization of $13.90 billion, a PE ratio of 9.93 and a beta of 1.44. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.30. PulteGroup, Inc. has a 1 year low of $37.71 and a 1 year high of $63.90. The company’s 50 day moving average price is $54.93.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 2nd. Stockholders of record on Friday, June 11th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend was Thursday, June 10th. PulteGroup’s dividend payout ratio is presently 11.89%.
PulteGroup announced that its Board of Directors has approved a stock buyback plan on Tuesday, April 27th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the construction company to reacquire up to 6.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
PHM has been the subject of several research reports. BTIG Research reduced their price target on PulteGroup from $76.00 to $72.00 and set a “buy” rating for the company in a report on Monday. Seaport Res Ptn reiterated a “neutral” rating on shares of PulteGroup in a report on Monday. The Goldman Sachs Group lowered PulteGroup from a “buy” rating to a “neutral” rating and reduced their price target for the company from $69.00 to $62.00 in a report on Wednesday, June 30th. Wells Fargo & Company assumed coverage on PulteGroup in a research note on Wednesday, April 21st. They issued an “equal weight” rating and a $55.00 price objective on the stock. Finally, Zacks Investment Research downgraded PulteGroup from a “strong-buy” rating to a “hold” rating and set a $57.00 price objective on the stock. in a research note on Tuesday, June 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $59.21.
In other news, Director Brian P. Anderson sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, April 30th. The stock was sold at an average price of $59.29, for a total transaction of $88,935.00. Following the sale, the director now directly owns 64,881 shares in the company, valued at $3,846,794.49. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.61% of the company’s stock.
PulteGroup Company Profile
PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company acquires and develops land primarily for residential purposes; and constructs 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, American West, and John Wieland Homes and Neighborhoods brand names.
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