BTC Capital Management Inc. Increases Stock Position in PulteGroup, Inc. (NYSE:PHM)

BTC Capital Management Inc. raised its holdings in PulteGroup, Inc. (NYSE:PHM) by 0.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,670 shares of the construction company’s stock after purchasing an additional 410 shares during the quarter. BTC Capital Management Inc.’s holdings in PulteGroup were worth $6,825,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Franklin Resources Inc. boosted its holdings in PulteGroup by 5.5% in the 3rd quarter. Franklin Resources Inc. now owns 11,254,274 shares of the construction company’s stock valued at $1,647,364,000 after purchasing an additional 585,735 shares in the last quarter. FMR LLC boosted its holdings in PulteGroup by 102.3% in the 3rd quarter. FMR LLC now owns 9,040,828 shares of the construction company’s stock valued at $1,297,630,000 after purchasing an additional 4,571,757 shares in the last quarter. Greenhaven Associates Inc. boosted its holdings in PulteGroup by 0.3% in the 3rd quarter. Greenhaven Associates Inc. now owns 5,593,179 shares of the construction company’s stock valued at $802,789,000 after purchasing an additional 16,871 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in PulteGroup by 7.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,864,040 shares of the construction company’s stock valued at $267,546,000 after purchasing an additional 135,391 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of PulteGroup by 10.0% during the 4th quarter. Nordea Investment Management AB now owns 1,424,119 shares of the construction company’s stock valued at $155,856,000 after acquiring an additional 129,975 shares during the period. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Up 4.8 %

Shares of PulteGroup stock opened at $118.47 on Friday. The company has a fifty day moving average price of $118.23 and a 200 day moving average price of $127.48. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.14. PulteGroup, Inc. has a twelve month low of $100.24 and a twelve month high of $149.47. The stock has a market cap of $24.30 billion, a price-to-earnings ratio of 8.74, a price-to-earnings-growth ratio of 0.49 and a beta of 1.67.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $3.28 by $0.22. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. Equities research analysts forecast that PulteGroup, Inc. will post 13.06 earnings per share for the current fiscal year.

PulteGroup declared that its Board of Directors has approved a share repurchase program on Thursday, January 30th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the construction company to buy up to 6.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

PulteGroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th were issued 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 0.74%. This is a positive change from PulteGroup’s previous quarterly dividend of $0.20. PulteGroup’s payout ratio is currently 6.49%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PHM shares. Citigroup reduced their price target on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. JPMorgan Chase & Co. reduced their price target on shares of PulteGroup from $162.00 to $155.00 and set an “overweight” rating for the company in a research report on Friday, December 13th. Seaport Res Ptn downgraded shares of PulteGroup from a “hold” rating to a “strong sell” rating in a research report on Monday. The Goldman Sachs Group reduced their price target on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Finally, Wells Fargo & Company reduced their price target on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $142.29.

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.