PulteGroup, Inc. (NYSE:PHM) Shares Acquired by Greenleaf Trust

Greenleaf Trust raised its position in shares of PulteGroup, Inc. (NYSE:PHM) by 4.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,330 shares of the construction company’s stock after buying an additional 173 shares during the period. Greenleaf Trust’s holdings in PulteGroup were worth $472,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Logan Capital Management Inc. increased its position in shares of PulteGroup by 67.7% in the 3rd quarter. Logan Capital Management Inc. now owns 14,797 shares of the construction company’s stock valued at $2,124,000 after purchasing an additional 5,976 shares during the last quarter. Sanctuary Advisors LLC increased its position in PulteGroup by 38.1% during the third quarter. Sanctuary Advisors LLC now owns 121,299 shares of the construction company’s stock worth $17,410,000 after buying an additional 33,472 shares during the period. Trustmark National Bank Trust Department grew its position in PulteGroup by 39.8% during the 3rd quarter. Trustmark National Bank Trust Department now owns 39,589 shares of the construction company’s stock worth $5,682,000 after purchasing an additional 11,269 shares during the last quarter. Systematic Financial Management LP increased its stake in PulteGroup by 3.9% in the third quarter. Systematic Financial Management LP now owns 130,257 shares of the construction company’s stock valued at $18,696,000 after purchasing an additional 4,840 shares during the period. Finally, New Millennium Group LLC grew its stake in shares of PulteGroup by 10,625.8% in the 3rd quarter. New Millennium Group LLC now owns 9,546 shares of the construction company’s stock valued at $1,370,000 after purchasing an additional 9,457 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Citigroup cut their target price on PulteGroup from $146.00 to $119.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Oppenheimer cut their price target on PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. Seaport Res Ptn cut shares of PulteGroup from a “hold” rating to a “strong sell” rating in a research note on Monday, January 27th. The Goldman Sachs Group dropped their price objective on PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Finally, Wedbush restated an “outperform” rating and issued a $135.00 target price on shares of PulteGroup in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.86.

PulteGroup Price Performance

PHM opened at $110.44 on Wednesday. The company has a quick ratio of 0.73, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a 52-week low of $100.24 and a 52-week high of $149.47. The company has a 50 day moving average of $117.15 and a two-hundred day moving average of $127.35. The company has a market cap of $22.65 billion, a P/E ratio of 7.51, a P/E/G ratio of 0.49 and a beta of 1.68.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.22. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. On average, analysts expect that PulteGroup, Inc. will post 13.34 earnings per share for the current year.

PulteGroup Increases Dividend

The business also recently disclosed 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 represents a $0.88 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date was Tuesday, December 17th. This is a boost from PulteGroup’s previous quarterly dividend of $0.20. PulteGroup’s payout ratio is currently 5.98%.

PulteGroup declared that its Board of Directors has approved a share buyback program on Thursday, January 30th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to buy up to 6.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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.