Y Intercept Hong Kong Ltd Purchases New Holdings in PulteGroup, Inc. (NYSE:PHM)

Y Intercept Hong Kong Ltd acquired a new position in PulteGroup, Inc. (NYSE:PHM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 29,253 shares of the construction company’s stock, valued at approximately $3,186,000.

A number of other institutional investors and hedge funds have also made changes to their positions in PHM. Fortitude Family Office LLC boosted its position in shares of PulteGroup by 115.1% in the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock worth $27,000 after purchasing an additional 99 shares in the last quarter. Transcendent Capital Group LLC purchased a new position in PulteGroup during the third quarter valued at $29,000. Hager Investment Management Services LLC bought a new stake in PulteGroup in the fourth quarter worth $29,000. R Squared Ltd purchased a new stake in shares of PulteGroup in the fourth quarter worth $39,000. Finally, JNBA Financial Advisors bought a new position in shares of PulteGroup during the third quarter valued at $43,000. Institutional investors own 89.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on PHM. Bank of America dropped their price target on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. JPMorgan Chase & Co. dropped their target price on shares of PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a research note on Friday, December 13th. Oppenheimer reduced their price target on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a research report on Friday, January 31st. Citigroup lowered their price objective on PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Finally, The Goldman Sachs Group reduced their target price on PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $140.86.

PulteGroup Trading Down 1.4 %

Shares of NYSE:PHM opened at $101.64 on Tuesday. PulteGroup, Inc. has a 52-week low of $100.54 and a 52-week high of $149.47. The stock has a market capitalization of $20.58 billion, a price-to-earnings ratio of 6.91, a PEG ratio of 0.29 and a beta of 1.68. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86. The stock’s 50-day simple moving average is $110.56 and its two-hundred day simple moving average is $125.25.

PulteGroup (NYSE:PHM) last announced its earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share (EPS) for the quarter, beating 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%. Analysts expect that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Tuesday, March 18th. PulteGroup’s payout ratio is 5.98%.

PulteGroup declared that its board has authorized a share repurchase plan on Thursday, January 30th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the construction company to buy up to 6.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Insider Transactions at PulteGroup

In related news, Director Brian P. Anderson sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $106.45, for a total transaction of $266,125.00. Following the completion of the transaction, the director now directly owns 56,617 shares in the company, valued at approximately $6,026,879.65. The trade was a 4.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Todd N. Sheldon sold 15,191 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $106.50, for a total transaction of $1,617,841.50. Following the sale, the executive vice president now owns 74,758 shares in the company, valued at approximately $7,961,727. The trade was a 16.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,191 shares of company stock worth $2,256,367 in the last three months. Corporate insiders own 0.75% of the company’s stock.

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.