Barings LLC Increases Stake in PulteGroup, Inc. (PHM)

Barings LLC lifted its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 40.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 86,247 shares of the construction company’s stock after acquiring an additional 24,700 shares during the period. Barings LLC’s holdings in PulteGroup were worth $2,868,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its position in PulteGroup by 0.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 10,574,407 shares of the construction company’s stock valued at $288,984,000 after buying an additional 67,782 shares during the last quarter. Greenhaven Associates Inc. grew its position in PulteGroup by 0.3% in the 4th quarter. Greenhaven Associates Inc. now owns 5,749,401 shares of the construction company’s stock valued at $191,168,000 after buying an additional 14,853 shares during the last quarter. American Century Companies Inc. grew its position in PulteGroup by 1.0% in the 3rd quarter. American Century Companies Inc. now owns 4,774,847 shares of the construction company’s stock valued at $130,497,000 after buying an additional 45,977 shares during the last quarter. LSV Asset Management grew its position in PulteGroup by 3.2% in the 4th quarter. LSV Asset Management now owns 2,517,922 shares of the construction company’s stock valued at $83,720,000 after buying an additional 78,392 shares during the last quarter. Finally, Capital Growth Management LP grew its position in PulteGroup by 90.0% in the 3rd quarter. Capital Growth Management LP now owns 1,900,000 shares of the construction company’s stock valued at $51,927,000 after buying an additional 900,000 shares during the last quarter. Hedge funds and other institutional investors own 82.96% of the company’s stock.

A number of equities analysts recently weighed in on PHM shares. Zacks Investment Research upgraded shares of PulteGroup from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research report on Friday, October 27th. Credit Suisse Group reiterated an “outperform” rating and issued a $38.00 price objective (up from $32.00) on shares of PulteGroup in a research report on Monday, January 22nd. They noted that the move was a valuation call. Citigroup lowered shares of PulteGroup from a “neutral” rating to a “sell” rating and set a $26.00 price objective on the stock. in a research report on Friday, October 20th. B. Riley lowered shares of PulteGroup from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $31.00 to $36.00 in a research report on Wednesday, January 3rd. Finally, UBS Group lifted their price objective on shares of PulteGroup from $38.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $32.85.

Shares of PulteGroup, Inc. (NYSE PHM) opened at $29.74 on Friday. PulteGroup, Inc. has a fifty-two week low of $21.13 and a fifty-two week high of $35.21. The company has a market capitalization of $8,740.00, a price-to-earnings ratio of 20.23, a price-to-earnings-growth ratio of 0.46 and a beta of 1.03.

PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, January 30th. The construction company reported $0.85 EPS for the quarter, meeting analysts’ consensus estimates of $0.85. PulteGroup had a return on equity of 15.52% and a net margin of 5.22%. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter last year, the company earned $0.67 earnings per share. PulteGroup’s quarterly revenue was up 12.1% compared to the same quarter last year. research analysts anticipate that PulteGroup, Inc. will post 3.11 earnings per share for the current fiscal year.

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. This represents a $0.36 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Thursday, March 15th. PulteGroup’s dividend payout ratio (DPR) is currently 24.49%.

PulteGroup declared that its board has initiated a stock repurchase program on Tuesday, January 30th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the construction company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

In other news, insider James R. Ellinghausen sold 67,490 shares of PulteGroup stock in a transaction on Monday, November 20th. The stock was sold at an average price of $32.35, for a total transaction of $2,183,301.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert Oshaughnessy sold 92,800 shares of PulteGroup stock in a transaction on Friday, December 8th. The stock was sold at an average price of $33.89, for a total value of $3,144,992.00. Following the transaction, 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. 0.71% of the stock is currently owned by company insiders.

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PulteGroup 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.

Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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