Concord Wealth Partners Buys 195 Shares of PulteGroup, Inc. (NYSE:PHM)

Concord Wealth Partners increased its position in PulteGroup, Inc. (NYSE:PHM) by 3.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 5,197 shares of the construction company’s stock after acquiring an additional 195 shares during the quarter. Concord Wealth Partners’ holdings in PulteGroup were worth $566,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Fortitude Family Office LLC increased its holdings in shares of PulteGroup by 115.1% in the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock worth $27,000 after purchasing an additional 99 shares during the period. Transcendent Capital Group LLC purchased a new position in PulteGroup during the third quarter worth about $29,000. R Squared Ltd bought a new position in PulteGroup in the 4th quarter worth about $39,000. JNBA Financial Advisors purchased a new stake in shares of PulteGroup in the 3rd quarter valued at about $43,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of PulteGroup by 1,059.3% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 313 shares of the construction company’s stock valued at $45,000 after acquiring an additional 286 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Down 4.0 %

Shares of PulteGroup stock opened at $113.73 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.14. PulteGroup, Inc. has a 12-month low of $100.24 and a 12-month high of $149.47. The company has a market cap of $23.32 billion, a P/E ratio of 8.39, a PEG ratio of 0.49 and a beta of 1.67. The company’s fifty day simple moving average is $118.03 and its two-hundred day simple moving average is $127.42.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.22. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. Research analysts anticipate that PulteGroup, Inc. will post 13.06 EPS for the current year.

PulteGroup announced that its board has authorized a stock repurchase program on Thursday, January 30th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the construction company to reacquire up to 6.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

PulteGroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th were paid a dividend of $0.22 per share. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, December 17th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.77%. PulteGroup’s dividend payout ratio (DPR) is currently 6.49%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Citigroup lowered their target price on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Bank of America cut their target price on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating for the company in a research report on Monday, January 27th. JPMorgan Chase & Co. lowered their price target on PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a research report on Friday, December 13th. The Goldman Sachs Group cut their price objective on PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Finally, Wedbush reissued an “outperform” rating and set a $135.00 price objective on shares of PulteGroup in a report on Friday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, PulteGroup has an average rating of “Moderate Buy” and a consensus price target of $140.86.

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.