Twin Capital Management Inc. Increases Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Twin Capital Management Inc. boosted its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 0.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 44,467 shares of the construction company’s stock after acquiring an additional 148 shares during the period. Twin Capital Management Inc.’s holdings in PulteGroup were worth $4,842,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Norges Bank purchased a new position in shares of PulteGroup in the fourth quarter valued at approximately $427,562,000. Amundi boosted its position in PulteGroup by 77.9% during the fourth quarter. Amundi now owns 1,636,562 shares of the construction company’s stock worth $180,775,000 after acquiring an additional 716,716 shares during the last quarter. Franklin Resources Inc. grew its stake in PulteGroup by 6.1% during the 4th quarter. Franklin Resources Inc. now owns 11,937,866 shares of the construction company’s stock valued at $1,300,034,000 after acquiring an additional 683,592 shares in the last quarter. Lord Abbett & CO. LLC grew its position in shares of PulteGroup by 3,118.4% in the third quarter. Lord Abbett & CO. LLC now owns 376,717 shares of the construction company’s stock valued at $54,070,000 after purchasing an additional 365,012 shares in the last quarter. Finally, Tidal Investments LLC boosted its stake in PulteGroup by 837.9% during the third quarter. Tidal Investments LLC now owns 173,727 shares of the construction company’s stock worth $24,935,000 after buying an additional 155,204 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on PHM shares. JPMorgan Chase & Co. dropped their price objective on shares of PulteGroup from $162.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, December 13th. StockNews.com lowered PulteGroup from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Citigroup cut their price objective on PulteGroup from $146.00 to $119.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Barclays dropped their price target on shares of 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, Wells Fargo & Company lowered their price target on PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, PulteGroup has an average rating of “Moderate Buy” and a consensus price target of $140.86.

PulteGroup Stock Performance

NYSE PHM opened at $101.05 on Monday. The business’s 50 day moving average is $106.12 and its two-hundred day moving average is $119.92. The stock has a market capitalization of $20.46 billion, a price-to-earnings ratio of 6.87, a PEG ratio of 0.29 and a beta of 1.44. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a 12-month low of $95.14 and a 12-month high of $149.47.

PulteGroup (NYSE:PHM) last issued its earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.28 by $0.22. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. Research analysts expect that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.87%. The ex-dividend date was Tuesday, March 18th. PulteGroup’s dividend payout ratio (DPR) is 5.98%.

PulteGroup declared that its Board of Directors has initiated a share buyback plan on Thursday, January 30th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 6.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other PulteGroup news, Director Brian P. Anderson sold 2,500 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $106.45, for a total transaction of $266,125.00. Following the transaction, the director now owns 56,617 shares in the company, valued at $6,026,879.65. The trade was a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Todd N. Sheldon sold 15,191 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $106.50, for a total transaction of $1,617,841.50. Following the completion of the transaction, the executive vice president now owns 74,758 shares of the company’s stock, valued at $7,961,727. This trade represents a 16.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,191 shares of company stock valued at $2,256,367. Insiders own 0.76% 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.