Gabelli Funds LLC Reduces Holdings in PulteGroup, Inc. (PHM)

Gabelli Funds LLC cut its position in PulteGroup, Inc. (NYSE:PHM) by 1.8% in the 4th quarter, Holdings Channel reports. The firm owned 335,000 shares of the construction company’s stock after selling 6,000 shares during the period. Gabelli Funds LLC’s holdings in PulteGroup were worth $11,139,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its position in shares of PulteGroup by 0.6% during the third quarter. Dimensional Fund Advisors LP now owns 10,574,407 shares of the construction company’s stock worth $288,984,000 after acquiring an additional 67,782 shares during the last quarter. Greenhaven Associates Inc. raised its position in shares of PulteGroup by 0.3% during the fourth quarter. Greenhaven Associates Inc. now owns 5,749,401 shares of the construction company’s stock worth $191,168,000 after acquiring an additional 14,853 shares during the last quarter. American Century Companies Inc. raised its position in shares of PulteGroup by 1.0% during the third quarter. American Century Companies Inc. now owns 4,774,847 shares of the construction company’s stock worth $130,497,000 after acquiring an additional 45,977 shares during the last quarter. LSV Asset Management raised its position in shares of PulteGroup by 3.2% during the fourth quarter. LSV Asset Management now owns 2,517,922 shares of the construction company’s stock worth $83,720,000 after acquiring an additional 78,392 shares during the last quarter. Finally, Capital Growth Management LP raised its position in shares of PulteGroup by 90.0% during the third quarter. Capital Growth Management LP now owns 1,900,000 shares of the construction company’s stock worth $51,927,000 after acquiring an additional 900,000 shares during the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Shares of PulteGroup, Inc. (NYSE:PHM) opened at $28.71 on Friday. The firm has a market capitalization of $8,212.95, a P/E ratio of 12.86, a price-to-earnings-growth ratio of 0.46 and a beta of 1.03. PulteGroup, Inc. has a 1-year low of $21.13 and a 1-year high of $35.21.

PulteGroup (NYSE:PHM) last issued its earnings results on Tuesday, January 30th. The construction company reported $0.85 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.85. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.82 billion. PulteGroup had a return on equity of 15.52% and a net margin of 5.22%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.67 earnings per share. equities analysts expect that PulteGroup, Inc. will post 3.06 EPS for the current fiscal year.

PulteGroup announced that its Board of Directors has approved a share buyback plan on Tuesday, January 30th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the construction company to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 3rd. Shareholders of record on Friday, March 16th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Thursday, March 15th. This represents a $0.36 dividend on an annualized basis and a yield of 1.25%. PulteGroup’s payout ratio is currently 25.00%.

In other PulteGroup news, insider James R. Ellinghausen sold 67,490 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $32.35, for a total value of $2,183,301.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert Oshaughnessy sold 92,800 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $33.89, for a total value of $3,144,992.00. Following the completion of the sale, the chief financial officer now directly owns 363,722 shares of the company’s stock, valued at approximately $12,326,538.58. The disclosure for this sale can be found here. Insiders own 0.71% of the company’s stock.

A number of equities analysts have recently issued reports on PHM shares. UBS Group started coverage on PulteGroup in a research report on Wednesday, October 25th. They set a “buy” rating and a $38.00 price objective for the company. Zacks Investment Research upgraded PulteGroup from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research report on Friday, October 27th. Mizuho upgraded PulteGroup from a “neutral” rating to a “buy” rating in a research report on Thursday, January 18th. Citigroup downgraded PulteGroup from a “neutral” rating to a “sell” rating and set a $26.00 price objective for the company. in a research report on Friday, October 20th. Finally, Buckingham Research downgraded PulteGroup from a “buy” rating to a “neutral” rating and set a $33.00 price objective for the company. in a research report on Tuesday, November 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $32.38.

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PulteGroup Company Profile

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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Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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