Harvest Fund Management Co. Ltd Has $579,000 Holdings in PulteGroup, Inc. (NYSE:PHM)

Harvest Fund Management Co. Ltd lifted its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 12.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,612 shares of the construction company’s stock after purchasing an additional 615 shares during the period. Harvest Fund Management Co. Ltd’s holdings in PulteGroup were worth $579,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Nordea Investment Management AB lifted its holdings in PulteGroup by 4.0% in the fourth quarter. Nordea Investment Management AB now owns 753,768 shares of the construction company’s stock valued at $78,030,000 after buying an additional 28,833 shares during the period. Illinois Municipal Retirement Fund increased its stake in PulteGroup by 24.9% in the third quarter. Illinois Municipal Retirement Fund now owns 26,341 shares of the construction company’s stock valued at $1,951,000 after purchasing an additional 5,257 shares in the last quarter. American Century Companies Inc. increased its stake in PulteGroup by 65.0% in the third quarter. American Century Companies Inc. now owns 224,978 shares of the construction company’s stock valued at $16,660,000 after purchasing an additional 88,638 shares in the last quarter. International Assets Investment Management LLC bought a new stake in PulteGroup in the fourth quarter valued at $6,111,000. Finally, Louisiana State Employees Retirement System bought a new stake in PulteGroup in the fourth quarter valued at $1,342,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Price Performance

Shares of PHM stock traded down $0.50 during mid-day trading on Wednesday, hitting $112.26. 2,044,803 shares of the stock traded hands, compared to its average volume of 1,827,987. The firm has a market cap of $23.69 billion, a price-to-earnings ratio of 9.54, a price-to-earnings-growth ratio of 0.52 and a beta of 1.56. The company’s 50-day simple moving average is $110.73 and its 200-day simple moving average is $98.96. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.86 and a current ratio of 0.86. PulteGroup, Inc. has a twelve month low of $64.41 and a twelve month high of $121.07.

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

PulteGroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Friday, March 15th were issued a $0.20 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.71%. PulteGroup’s dividend payout ratio is presently 6.81%.

PulteGroup declared that its Board of Directors has initiated a stock repurchase program on Tuesday, January 30th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the construction company to purchase up to 6.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have recently commented on PHM. Jefferies Financial Group boosted their target price on shares of PulteGroup from $126.00 to $131.00 and gave the stock a “buy” rating in a research report on Wednesday. Wedbush reissued a “neutral” rating and set a $85.00 price target on shares of PulteGroup in a research report on Wednesday, January 31st. UBS Group cut shares of PulteGroup from a “buy” rating to a “neutral” rating and raised their target price for the stock from $93.00 to $120.00 in a research report on Thursday, January 4th. The Goldman Sachs Group lifted their price target on shares of PulteGroup from $91.00 to $105.00 and gave the company a “neutral” rating in a research report on Thursday, January 11th. Finally, StockNews.com lowered shares of PulteGroup from a “buy” rating to a “hold” rating in a research note on Saturday, March 2nd. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $110.73.

Insider Buying and Selling

In other PulteGroup news, VP Brien P. O’meara sold 2,000 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total value of $206,180.00. Following the sale, the vice president now directly owns 15,389 shares in the company, 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 company insiders.

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.