Centiva Capital LP Makes New $2.32 Million Investment in PulteGroup, Inc. (NYSE:PHM)

Centiva Capital LP purchased a new stake in PulteGroup, Inc. (NYSE:PHM) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 21,337 shares of the construction company’s stock, valued at approximately $2,324,000.

A number of other hedge funds have also recently made changes to their positions in PHM. Richardson Financial Services Inc. lifted its position in PulteGroup by 16.7% during the fourth quarter. Richardson Financial Services Inc. now owns 622 shares of the construction company’s stock valued at $68,000 after purchasing an additional 89 shares during the last quarter. Premier Path Wealth Partners LLC raised its holdings in PulteGroup by 3.8% in the fourth quarter. Premier Path Wealth Partners LLC now owns 2,572 shares of the construction company’s stock worth $280,000 after buying an additional 95 shares during the last quarter. Meridian Wealth Management LLC increased its holdings in PulteGroup by 0.7% in the 4th quarter. Meridian Wealth Management LLC now owns 13,224 shares of the construction company’s stock worth $1,440,000 after buying an additional 95 shares in the last quarter. Fidelis Capital Partners LLC raised its stake in PulteGroup by 2.4% during the 4th quarter. Fidelis Capital Partners LLC now owns 4,384 shares of the construction company’s stock valued at $479,000 after buying an additional 103 shares during the last quarter. Finally, TD Waterhouse Canada Inc. increased its position in shares of PulteGroup by 43.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company’s stock valued at $38,000 after purchasing an additional 105 shares during the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

PulteGroup Stock Performance

Shares of PHM stock opened at $100.98 on Wednesday. The business’s 50 day moving average is $101.15 and its two-hundred day moving average is $112.81. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-month high of $149.47. The company has a market capitalization of $20.24 billion, a P/E ratio of 6.86, a P/E/G ratio of 0.29 and a beta of 1.37. 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 announced its quarterly earnings data on Tuesday, April 22nd. The construction company reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.10. The company had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.86 billion. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. During the same quarter last year, the firm posted $3.10 EPS. Analysts expect that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Tuesday, June 17th will be issued a dividend of $0.22 per share. The ex-dividend date is Tuesday, June 17th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.87%. PulteGroup’s dividend payout ratio is currently 6.21%.

PulteGroup declared that its board has approved a stock buyback program on Thursday, January 30th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes 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 stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PHM shares. Oppenheimer reduced their target price on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a report on Friday, January 31st. Barclays reduced their target price on PulteGroup from $100.00 to $98.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 23rd. Royal Bank of Canada dropped their price target on PulteGroup from $116.00 to $109.00 and set a “sector perform” rating for the company in a research note on Wednesday, April 23rd. Wedbush reaffirmed an “outperform” rating and set a $135.00 price objective on shares of PulteGroup in a report on Tuesday, April 22nd. Finally, The Goldman Sachs Group reduced their price target on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, PulteGroup currently has an average rating of “Moderate Buy” and a consensus target price of $134.69.

Insider Buying and Selling at PulteGroup

In other news, Director Brian P. Anderson sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $106.45, for a total value of $266,125.00. Following the completion of the transaction, the director now owns 56,617 shares of the company’s stock, valued at approximately $6,026,879.65. This trade represents a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Todd N. Sheldon sold 15,191 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were 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 of the company’s stock, valued at $7,961,727. This represents a 16.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,191 shares of company stock worth $2,256,367 over the last quarter. 0.76% of the stock is currently owned by company insiders.

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.