NEOS Investment Management LLC Has $1.20 Million Stock Position in PulteGroup, Inc. (NYSE:PHM)

NEOS Investment Management LLC grew its holdings in PulteGroup, Inc. (NYSE:PHM) by 29.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,985 shares of the construction company’s stock after purchasing an additional 2,485 shares during the period. NEOS Investment Management LLC’s holdings in PulteGroup were worth $1,196,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Elo Mutual Pension Insurance Co increased its stake in PulteGroup by 21.4% in the 4th quarter. Elo Mutual Pension Insurance Co now owns 22,618 shares of the construction company’s stock valued at $2,463,000 after buying an additional 3,991 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of PulteGroup by 2.9% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 316,252 shares of the construction company’s stock valued at $34,804,000 after acquiring an additional 8,996 shares in the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new stake in shares of PulteGroup during the fourth quarter worth $730,000. Florida Financial Advisors LLC boosted its position in PulteGroup by 24.0% during the fourth quarter. Florida Financial Advisors LLC now owns 3,703 shares of the construction company’s stock valued at $403,000 after purchasing an additional 716 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. grew its stake in PulteGroup by 4.7% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 32,647 shares of the construction company’s stock valued at $3,555,000 after purchasing an additional 1,473 shares in the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PHM shares. UBS Group raised their price target on PulteGroup from $148.00 to $151.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Seaport Res Ptn upgraded shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. reduced their price objective on shares of PulteGroup from $162.00 to $155.00 and set an “overweight” rating for the company in a research note on Friday, December 13th. Wedbush reissued an “outperform” rating and set a $135.00 target price on shares of PulteGroup in a research report on Friday, January 31st. Finally, Oppenheimer reduced their target price on PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a report on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, PulteGroup currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.86.

Insider Buying and Selling

In other PulteGroup news, EVP Todd N. Sheldon sold 15,191 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $106.50, for a total transaction of $1,617,841.50. Following the completion of the transaction, the executive vice president now directly owns 74,758 shares in the company, valued at $7,961,727. This represents a 16.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Brian P. Anderson sold 2,500 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $106.45, for a total transaction of $266,125.00. Following the completion of the sale, the director now owns 56,617 shares in the company, valued at $6,026,879.65. This represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,191 shares of company stock worth $2,256,367 in the last 90 days. 0.76% of the stock is owned by company insiders.

PulteGroup Stock Performance

Shares of NYSE PHM opened at $101.76 on Friday. The firm has a market capitalization of $20.60 billion, a price-to-earnings ratio of 6.92, a PEG ratio of 0.29 and a beta of 1.71. PulteGroup, Inc. has a one year low of $100.35 and a one year high of $149.47. The business has a fifty day simple moving average of $107.58 and a 200 day simple moving average of $121.31. 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 (NYSE:PHM) last released its quarterly earnings data 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 net margin of 17.18% and a return on equity of 24.43%. Sell-side analysts expect that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be paid a $0.22 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 annualized dividend and a dividend yield of 0.86%. PulteGroup’s dividend payout ratio is currently 5.98%.

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

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.