Timber Hill LLC Takes $303,000 Position in PulteGroup (PHM)

Timber Hill LLC purchased a new stake in shares of PulteGroup (NYSE:PHM) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,261 shares of the construction company’s stock, valued at approximately $303,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of PulteGroup by 2.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,053 shares of the construction company’s stock valued at $2,196,000 after acquiring an additional 1,760 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of PulteGroup by 28.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 8,808 shares of the construction company’s stock valued at $294,000 after acquiring an additional 1,946 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in shares of PulteGroup by 15.0% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 17,330 shares of the construction company’s stock valued at $576,000 after acquiring an additional 2,263 shares during the period. Meeder Asset Management Inc. lifted its stake in shares of PulteGroup by 2.6% during the fourth quarter. Meeder Asset Management Inc. now owns 92,840 shares of the construction company’s stock valued at $3,087,000 after acquiring an additional 2,336 shares during the period. Finally, Commerzbank Aktiengesellschaft FI lifted its stake in shares of PulteGroup by 3.6% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 70,189 shares of the construction company’s stock valued at $2,070,000 after acquiring an additional 2,442 shares during the period. 87.50% of the stock is currently owned by institutional investors and hedge funds.

In other PulteGroup news, Director Andre J. Hawaux purchased 3,100 shares of the stock in a transaction on Friday, May 11th. The stock was bought at an average cost of $31.31 per share, for a total transaction of $97,061.00. Following the completion of the acquisition, the director now directly owns 48,548 shares of the company’s stock, valued at $1,520,037.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Cheryl W. Grise sold 14,000 shares of the stock in a transaction dated Wednesday, May 2nd. The stock was sold at an average price of $30.74, for a total value of $430,360.00. Following the completion of the sale, the director now owns 15,200 shares of the company’s stock, valued at $467,248. The disclosure for this sale can be found here. Insiders sold 75,438 shares of company stock valued at $2,347,542 over the last 90 days. Corporate insiders own 0.86% of the company’s stock.

PHM has been the topic of several research reports. Credit Suisse Group reaffirmed an “outperform” rating and set a $38.00 price target (up previously from $32.00) on shares of PulteGroup in a research note on Monday, January 22nd. They noted that the move was a valuation call. Raymond James raised PulteGroup from a “market perform” rating to an “outperform” rating in a research note on Thursday, April 26th. Barclays cut their target price on PulteGroup from $35.00 to $33.00 and set a “hold” rating on the stock in a research note on Monday, March 26th. Mizuho reissued a “buy” rating and issued a $36.00 target price on shares of PulteGroup in a research note on Thursday, March 15th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $35.00 target price on shares of PulteGroup in a research note on Monday, March 26th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $35.21.

PulteGroup opened at $29.91 on Friday, Marketbeat.com reports. PulteGroup has a 1-year low of $22.52 and a 1-year high of $35.21. The stock has a market capitalization of $8.45 billion, a price-to-earnings ratio of 13.66, a P/E/G ratio of 0.50 and a beta of 1.03.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, April 24th. The construction company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.15. PulteGroup had a return on equity of 17.48% and a net margin of 5.91%. The company had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the prior year, the company earned $0.31 earnings per share. The company’s revenue for the quarter was up 20.9% compared to the same quarter last year. equities research analysts expect that PulteGroup will post 3.31 EPS for the current fiscal year.

PulteGroup announced that its Board of Directors has initiated a stock repurchase program on Tuesday, January 30th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the construction company to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 5th. Shareholders of record on Thursday, June 7th will be issued a $0.09 dividend. The ex-dividend date is Wednesday, June 6th. This represents a $0.36 annualized dividend and a dividend yield of 1.20%. PulteGroup’s dividend payout ratio (DPR) is currently 16.44%.

PulteGroup Company Profile

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company is involved in the acquisition and development of land primarily for residential purposes; and the construction of housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods names.

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Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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