Quantum Private Wealth LLC Makes New Investment in PulteGroup, Inc. (NYSE:PHM)

Quantum Private Wealth LLC purchased a new stake in shares of PulteGroup, Inc. (NYSE:PHM) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 2,308 shares of the construction company’s stock, valued at approximately $238,000.

Several other institutional investors have also modified their holdings of the company. Clear Street Markets LLC raised its holdings in PulteGroup by 90.9% during the first quarter. Clear Street Markets LLC now owns 441 shares of the construction company’s stock worth $26,000 after purchasing an additional 210 shares during the last quarter. Coppell Advisory Solutions Corp. purchased a new position in shares of PulteGroup in the fourth quarter valued at $26,000. Coppell Advisory Solutions LLC acquired a new position in shares of PulteGroup during the 2nd quarter worth $29,000. Arlington Trust Co LLC purchased a new stake in shares of PulteGroup in the 3rd quarter worth about $33,000. Finally, Baystate Wealth Management LLC boosted its position in shares of PulteGroup by 186.5% in the 3rd quarter. Baystate Wealth Management LLC now owns 490 shares of the construction company’s stock worth $36,000 after buying an additional 319 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Trading Down 1.8 %

Shares of NYSE PHM traded down $1.93 on Wednesday, reaching $106.86. 1,577,056 shares of the company traded hands, compared to its average volume of 1,475,342. The company has a 50 day moving average of $110.32 and a 200 day moving average of $97.71. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19. PulteGroup, Inc. has a fifty-two week low of $59.95 and a fifty-two week high of $121.07. The stock has a market capitalization of $22.55 billion, a PE ratio of 9.10, a P/E/G ratio of 0.53 and a beta of 1.56.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, January 30th. The construction company reported $3.28 earnings per share for the quarter, topping analysts’ consensus estimates of $3.21 by $0.07. PulteGroup had a net margin of 16.20% and a return on equity of 25.97%. The company had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.47 billion. During the same quarter last year, the firm posted $3.63 earnings per share. PulteGroup’s revenue was down 15.5% on a year-over-year basis. On average, equities research analysts forecast that PulteGroup, Inc. will post 11.79 earnings per share for the current fiscal year.

PulteGroup declared that its Board of Directors has authorized a share repurchase plan on Tuesday, January 30th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the construction company to purchase up to 6.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

PulteGroup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Friday, March 15th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date was Thursday, March 14th. PulteGroup’s dividend payout ratio (DPR) is presently 6.81%.

Insiders Place Their Bets

In other news, VP Brien P. O’meara sold 2,000 shares of PulteGroup stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $103.09, for a total value of $206,180.00. Following the transaction, the vice president now directly owns 15,389 shares of the company’s stock, valued at approximately $1,586,452.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.75% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PHM shares. The Goldman Sachs Group lifted their target price on shares of PulteGroup from $91.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, January 11th. Royal Bank of Canada lifted their price objective on PulteGroup from $103.00 to $106.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 31st. UBS Group lowered PulteGroup from a “buy” rating to a “neutral” rating and upped their target price for the company from $93.00 to $120.00 in a research note on Thursday, January 4th. Citigroup raised their price target on PulteGroup from $116.00 to $127.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Finally, StockNews.com downgraded PulteGroup from a “buy” rating to a “hold” rating in a research report on Saturday, March 2nd. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PulteGroup presently has an average rating of “Moderate Buy” and an average price target of $106.47.

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.