Myriad Asset Management Advisors LLC Buys Shares of 15,163 PulteGroup, Inc. $PHM

Myriad Asset Management Advisors LLC bought a new stake in shares of PulteGroup, Inc. (NYSE:PHM) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 15,163 shares of the construction company’s stock, valued at approximately $1,778,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Franklin Resources Inc. raised its stake in PulteGroup by 5.1% during the 4th quarter. Franklin Resources Inc. now owns 13,555,304 shares of the construction company’s stock valued at $1,589,495,000 after buying an additional 655,033 shares during the last quarter. Norges Bank purchased a new stake in PulteGroup during the 4th quarter valued at $466,653,000. First Trust Advisors LP raised its stake in PulteGroup by 13.3% during the 3rd quarter. First Trust Advisors LP now owns 3,623,917 shares of the construction company’s stock valued at $478,828,000 after buying an additional 424,011 shares during the last quarter. Bank of America Corp DE raised its stake in PulteGroup by 13.1% during the 2nd quarter. Bank of America Corp DE now owns 1,755,241 shares of the construction company’s stock valued at $185,108,000 after buying an additional 202,870 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in PulteGroup by 120.4% during the 3rd quarter. American Century Companies Inc. now owns 1,703,049 shares of the construction company’s stock valued at $225,024,000 after buying an additional 930,287 shares during the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other PulteGroup news, Director Lila Snyder sold 3,339 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $117.18, for a total value of $391,264.02. Following the completion of the sale, the director owned 3,540 shares in the company, valued at approximately $414,817.20. This represents a 48.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Matthew William Koart sold 7,457 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $120.00, for a total value of $894,840.00. Following the completion of the sale, the chief operating officer owned 28,100 shares of the company’s stock, valued at $3,372,000. The trade was a 20.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.75% of the company’s stock.

PulteGroup Trading Down 3.3%

NYSE:PHM opened at $118.74 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market capitalization of $22.62 billion, a price-to-earnings ratio of 11.48, a price-to-earnings-growth ratio of 1.56 and a beta of 1.20. PulteGroup, Inc. has a one year low of $98.27 and a one year high of $144.49. The business has a fifty day moving average price of $119.36 and a 200-day moving average price of $124.16.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Thursday, April 23rd. The construction company reported $1.79 EPS for the quarter, missing the consensus estimate of $1.80 by ($0.01). The company had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.40 billion. PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.The company’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter last year, the company earned $2.57 earnings per share. Sell-side analysts forecast that PulteGroup, Inc. will post 10 EPS for the current year.

PulteGroup announced that its Board of Directors has initiated a share buyback program on Thursday, April 23rd that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to buy up to 6.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.

PulteGroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Tuesday, June 16th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, June 16th. PulteGroup’s dividend payout ratio is presently 10.06%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PHM. Citigroup boosted their target price on shares of PulteGroup from $136.00 to $138.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. The Goldman Sachs Group boosted their target price on shares of PulteGroup from $133.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Evercore upped their price objective on PulteGroup from $146.00 to $151.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Bank of America reduced their price objective on PulteGroup from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Finally, Zacks Research upgraded PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Ten investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, PulteGroup presently has an average rating of “Moderate Buy” and an average price target of $140.71.

PulteGroup Company Profile

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.