Bristlecone Advisors LLC Boosts Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Bristlecone Advisors LLC grew its position in shares of PulteGroup, Inc. (NYSE:PHM) by 47.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,479 shares of the construction company’s stock after acquiring an additional 799 shares during the quarter. Bristlecone Advisors LLC’s holdings in PulteGroup were worth $270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Entropy Technologies LP purchased a new position in PulteGroup during the 4th quarter worth $1,299,000. Vest Financial LLC boosted its holdings in PulteGroup by 111.5% during the 4th quarter. Vest Financial LLC now owns 22,159 shares of the construction company’s stock worth $2,413,000 after acquiring an additional 11,682 shares during the last quarter. NatWest Group plc boosted its holdings in PulteGroup by 0.8% during the 4th quarter. NatWest Group plc now owns 62,547 shares of the construction company’s stock worth $6,811,000 after acquiring an additional 525 shares during the last quarter. Generate Investment Management Ltd boosted its holdings in PulteGroup by 13.2% during the 4th quarter. Generate Investment Management Ltd now owns 113,497 shares of the construction company’s stock worth $12,360,000 after acquiring an additional 13,203 shares during the last quarter. Finally, Lecap Asset Management Ltd. purchased a new position in shares of PulteGroup in the 4th quarter worth about $2,257,000. 89.90% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Trading Up 0.6 %

Shares of PHM opened at $106.55 on Tuesday. The business’s 50-day moving average price is $115.02 and its 200-day moving average price is $126.92. PulteGroup, Inc. has a twelve month low of $100.24 and a twelve month high of $149.47. The stock has a market cap of $21.85 billion, a PE ratio of 7.24, a P/E/G ratio of 0.29 and a beta of 1.68. The company has a quick ratio of 0.73, a current ratio of 0.86 and a debt-to-equity ratio of 0.13.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share for the quarter, beating 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%. On average, equities analysts forecast that PulteGroup, Inc. will post 12.43 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.83%. The ex-dividend date is Tuesday, March 18th. PulteGroup’s dividend payout ratio is presently 5.98%.

PulteGroup announced that its Board of Directors has authorized a stock buyback plan on Thursday, January 30th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 6.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PHM shares. The Goldman Sachs Group cut their price target on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Wedbush reissued an “outperform” rating and issued a $135.00 price target on shares of PulteGroup in a report on Friday, January 31st. JPMorgan Chase & Co. cut their price target on shares of PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a report on Friday, December 13th. Oppenheimer cut their price target on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. Finally, Seaport Res Ptn downgraded shares of PulteGroup from a “hold” rating to a “strong sell” rating in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $140.86.

PulteGroup Company Profile

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.