Icon Advisers Inc. Co. raised its position in PulteGroup, Inc. (NYSE:PHM) by 132.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 673,770 shares of the construction company’s stock after purchasing an additional 383,900 shares during the period. PulteGroup accounts for approximately 1.5% of Icon Advisers Inc. Co.’s portfolio, making the stock its 7th largest position. Icon Advisers Inc. Co.’s holdings in PulteGroup were worth $22,403,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in PHM. PNC Financial Services Group Inc. lifted its position in shares of PulteGroup by 10.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 17,717 shares of the construction company’s stock valued at $433,000 after acquiring an additional 1,692 shares during the period. Thrivent Financial For Lutherans increased its stake in PulteGroup by 2.2% during the 2nd quarter. Thrivent Financial For Lutherans now owns 10,722 shares of the construction company’s stock valued at $263,000 after purchasing an additional 230 shares in the last quarter. Stifel Financial Corp increased its stake in PulteGroup by 103.7% during the 2nd quarter. Stifel Financial Corp now owns 78,286 shares of the construction company’s stock valued at $1,923,000 after purchasing an additional 39,859 shares in the last quarter. Balyasny Asset Management LLC increased its stake in PulteGroup by 84.6% during the 2nd quarter. Balyasny Asset Management LLC now owns 79,800 shares of the construction company’s stock valued at $1,957,000 after purchasing an additional 36,563 shares in the last quarter. Finally, HighTower Advisors LLC bought a new stake in PulteGroup during the 2nd quarter valued at $690,000. Institutional investors own 83.83% of the company’s stock.
PulteGroup, Inc. (NYSE:PHM) opened at $28.67 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.17 and a quick ratio of 0.25. The firm has a market cap of $8,568.17, a P/E ratio of 19.91, a P/E/G ratio of 0.48 and a beta of 1.03. PulteGroup, Inc. has a 52-week low of $21.13 and a 52-week high of $35.21.
PulteGroup declared that its Board of Directors has initiated a stock repurchase program on Tuesday, January 30th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the construction company to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 3rd. Shareholders of record on Friday, March 16th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.26%. PulteGroup’s payout ratio is currently 25.00%.
In other PulteGroup news, insider James R. Ellinghausen sold 67,490 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $32.35, for a total transaction of $2,183,301.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Robert Oshaughnessy sold 92,800 shares of the stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $33.89, for a total transaction of $3,144,992.00. Following the transaction, the chief financial officer now owns 363,722 shares in the company, valued at $12,326,538.58. The disclosure for this sale can be found here. 0.71% of the stock is owned by company insiders.
A number of analysts have commented on the stock. B. Riley restated a “buy” rating on shares of PulteGroup in a research note on Wednesday, November 1st. Zacks Investment Research lowered shares of PulteGroup from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Credit Suisse Group upgraded shares of PulteGroup to a “buy” rating and set a $38.00 price target for the company in a research note on Wednesday, January 31st. Bank of America set a $34.00 price target on shares of PulteGroup and gave the company a “buy” rating in a research note on Wednesday, October 25th. Finally, Wedbush restated a “neutral” rating and set a $22.00 price target (down previously from $27.00) on shares of PulteGroup in a research note on Tuesday, October 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $32.38.
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PulteGroup, Inc is a homebuilder in the United States. The Company’s segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land.
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