Vest Financial LLC Buys 11,682 Shares of PulteGroup, Inc. (NYSE:PHM)

Vest Financial LLC raised its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 111.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,159 shares of the construction company’s stock after acquiring an additional 11,682 shares during the period. Vest Financial LLC’s holdings in PulteGroup were worth $2,413,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Grove Bank & Trust grew its position in PulteGroup by 18.4% in the 3rd quarter. Grove Bank & Trust now owns 463 shares of the construction company’s stock worth $66,000 after purchasing an additional 72 shares in the last quarter. Cromwell Holdings LLC grew its holdings in shares of PulteGroup by 17.2% in the third quarter. Cromwell Holdings LLC now owns 565 shares of the construction company’s stock valued at $81,000 after acquiring an additional 83 shares in the last quarter. Concord Wealth Partners increased its position in shares of PulteGroup by 1.7% during the third quarter. Concord Wealth Partners now owns 5,002 shares of the construction company’s stock valued at $718,000 after acquiring an additional 83 shares during the last quarter. Ashton Thomas Private Wealth LLC lifted its holdings in PulteGroup by 3.0% during the third quarter. Ashton Thomas Private Wealth LLC now owns 3,054 shares of the construction company’s stock worth $438,000 after acquiring an additional 88 shares during the period. Finally, Richardson Financial Services Inc. boosted its position in PulteGroup by 16.7% in the fourth quarter. Richardson Financial Services Inc. now owns 622 shares of the construction company’s stock worth $68,000 after purchasing an additional 89 shares during the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PHM has been the topic of a number of recent analyst reports. Oppenheimer lowered their target price on PulteGroup from $165.00 to $150.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. Evercore ISI decreased their price target on shares of PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Wedbush reiterated an “outperform” rating and issued a $135.00 price objective on shares of PulteGroup in a research note on Friday, January 31st. Barclays decreased their target price on PulteGroup from $125.00 to $117.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Finally, Bank of America dropped their price target on PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.86.

PulteGroup Stock Down 3.8 %

Shares of NYSE:PHM opened at $105.85 on Friday. The company has a market cap of $21.71 billion, a price-to-earnings ratio of 7.20, a PEG ratio of 0.29 and a beta of 1.68. PulteGroup, Inc. has a one year low of $100.24 and a one year high of $149.47. The firm has a fifty day moving average price of $115.02 and a two-hundred day moving average price of $126.88. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.73.

PulteGroup (NYSE:PHM) last posted its earnings results on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, topping the consensus estimate of $3.28 by $0.22. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. Analysts anticipate that PulteGroup, Inc. will post 12.43 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.88 annualized dividend and a yield of 0.83%. PulteGroup’s payout ratio is presently 5.98%.

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

About PulteGroup

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.