Elo Mutual Pension Insurance Co Grows Stock Position in PulteGroup, Inc. (NYSE:PHM)

Elo Mutual Pension Insurance Co boosted its position in PulteGroup, Inc. (NYSE:PHM) by 21.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,618 shares of the construction company’s stock after buying an additional 3,991 shares during the period. Elo Mutual Pension Insurance Co’s holdings in PulteGroup were worth $2,463,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of PulteGroup by 2.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 316,252 shares of the construction company’s stock worth $34,804,000 after acquiring an additional 8,996 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new position in PulteGroup during the fourth quarter worth about $730,000. Florida Financial Advisors LLC lifted its position in PulteGroup by 24.0% in the fourth quarter. Florida Financial Advisors LLC now owns 3,703 shares of the construction company’s stock valued at $403,000 after purchasing an additional 716 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in PulteGroup by 4.7% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 32,647 shares of the construction company’s stock valued at $3,555,000 after purchasing an additional 1,473 shares in the last quarter. Finally, LPL Financial LLC raised its stake in shares of PulteGroup by 11.2% during the 4th quarter. LPL Financial LLC now owns 390,579 shares of the construction company’s stock worth $42,534,000 after buying an additional 39,321 shares in the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

PulteGroup Trading Down 3.1 %

Shares of PulteGroup stock opened at $101.76 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. The firm has a market cap of $20.60 billion, a PE ratio of 6.92, a P/E/G ratio of 0.29 and a beta of 1.71. The business’s fifty day moving average is $107.58 and its two-hundred day moving average is $121.31. PulteGroup, Inc. has a fifty-two week low of $100.35 and a fifty-two week high of $149.47.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, topping the consensus estimate of $3.28 by $0.22. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. Analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup declared that its Board of Directors has authorized a share buyback program on Thursday, January 30th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 6.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

PulteGroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Tuesday, March 18th. PulteGroup’s payout ratio is 5.98%.

Insider Activity

In other PulteGroup news, Director Brian P. Anderson sold 2,500 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $106.45, for a total value of $266,125.00. Following the transaction, the director now owns 56,617 shares of the company’s stock, valued at approximately $6,026,879.65. This represents a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Brien P. O’meara sold 3,500 shares of PulteGroup stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $106.40, for a total value of $372,400.00. Following the completion of the transaction, the vice president now owns 11,372 shares in the company, valued at $1,209,980.80. The trade was a 23.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,191 shares of company stock worth $2,256,367. Corporate insiders own 0.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PHM. JPMorgan Chase & Co. decreased their price target on PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a research note on Friday, December 13th. Citigroup decreased their target price on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Oppenheimer cut their price target on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a report on Friday, January 31st. Wedbush reissued an “outperform” rating and set a $135.00 price objective on shares of PulteGroup in a report on Friday, January 31st. Finally, Wells Fargo & Company dropped their target price on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $140.86.

About PulteGroup

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.