Lecap Asset Management Ltd. Invests $2.26 Million in PulteGroup, Inc. (NYSE:PHM)

Lecap Asset Management Ltd. bought a new position in PulteGroup, Inc. (NYSE:PHM) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 20,728 shares of the construction company’s stock, valued at approximately $2,257,000.

Other institutional investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC bought a new stake in shares of PulteGroup in the 4th quarter valued at approximately $85,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of PulteGroup by 1.2% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 22,458 shares of the construction company’s stock valued at $2,446,000 after purchasing an additional 277 shares during the last quarter. Measured Wealth Private Client Group LLC increased its stake in shares of PulteGroup by 70.5% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 2,893 shares of the construction company’s stock worth $315,000 after purchasing an additional 1,196 shares during the period. Oakworth Capital Inc. lifted its position in shares of PulteGroup by 642.2% during the 4th quarter. Oakworth Capital Inc. now owns 475 shares of the construction company’s stock worth $52,000 after purchasing an additional 411 shares during the last quarter. Finally, Caitlin John LLC boosted its stake in PulteGroup by 4.3% during the 4th quarter. Caitlin John LLC now owns 15,775 shares of the construction company’s stock valued at $1,718,000 after purchasing an additional 651 shares during the period. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on PHM. StockNews.com downgraded PulteGroup from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. BTIG Research raised their price target on shares of PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group cut their price objective on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Oppenheimer decreased their target price on PulteGroup from $165.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. cut their price target on PulteGroup from $162.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, December 13th. 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $140.86.

PulteGroup Stock Down 1.3 %

Shares of NYSE:PHM opened at $109.89 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. The firm has a market cap of $22.54 billion, a P/E ratio of 7.47, a P/E/G ratio of 0.49 and a beta of 1.68. PulteGroup, Inc. has a 12 month low of $100.24 and a 12 month high of $149.47. The company’s 50-day moving average price is $116.14 and its two-hundred day moving average price is $127.14.

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, 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%. As a group, research analysts forecast that PulteGroup, Inc. will post 13.34 EPS for the current fiscal year.

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

PulteGroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend is Tuesday, March 18th. PulteGroup’s dividend payout ratio (DPR) is presently 5.98%.

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.