Caisse Des Depots ET Consignations Makes New Investment in PulteGroup, Inc. (NYSE:PHM)

Caisse Des Depots ET Consignations acquired a new stake in PulteGroup, Inc. (NYSE:PHM) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 11,342 shares of the construction company’s stock, valued at approximately $1,235,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Homestead Advisers Corp increased its stake in PulteGroup by 4.0% in the fourth quarter. Homestead Advisers Corp now owns 455,800 shares of the construction company’s stock valued at $49,637,000 after purchasing an additional 17,400 shares during the last quarter. NEOS Investment Management LLC grew its position in shares of PulteGroup by 29.2% in the 4th quarter. NEOS Investment Management LLC now owns 10,985 shares of the construction company’s stock valued at $1,196,000 after buying an additional 2,485 shares during the last quarter. Elo Mutual Pension Insurance Co raised its stake in PulteGroup by 21.4% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 22,618 shares of the construction company’s stock worth $2,463,000 after acquiring an additional 3,991 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in PulteGroup by 2.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 316,252 shares of the construction company’s stock valued at $34,804,000 after acquiring an additional 8,996 shares during the last quarter. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in PulteGroup in the fourth quarter valued at $730,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

Insider Activity at PulteGroup

In other news, VP Brien P. O’meara sold 3,500 shares of PulteGroup stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $106.40, for a total value of $372,400.00. Following the transaction, the vice president now directly owns 11,372 shares of the company’s stock, valued at $1,209,980.80. The trade was a 23.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Todd N. Sheldon sold 15,191 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $106.50, for a total transaction of $1,617,841.50. Following the sale, the executive vice president now directly owns 74,758 shares of the company’s stock, valued at approximately $7,961,727. This trade represents a 16.89 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,191 shares of company stock worth $2,256,367. 0.83% of the stock is owned by company insiders.

PulteGroup Stock Down 0.1 %

Shares of NYSE PHM opened at $105.12 on Friday. The firm has a market cap of $21.28 billion, a P/E ratio of 7.15, a price-to-earnings-growth ratio of 0.29 and a beta of 1.71. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86. PulteGroup, Inc. has a 1 year low of $100.35 and a 1 year high of $149.47. The firm’s 50 day moving average price is $107.89 and its 200 day moving average price is $121.60.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, beating analysts’ consensus estimates of $3.28 by $0.22. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. As a group, sell-side analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup announced that its board has initiated a stock repurchase program on Thursday, January 30th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to reacquire up to 6.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

PulteGroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be given a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.88 annualized dividend and a dividend yield of 0.84%. PulteGroup’s dividend payout ratio is presently 5.98%.

Analyst Ratings Changes

PHM has been the topic of a number of research analyst reports. UBS Group lifted their target price on PulteGroup from $148.00 to $151.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Bank of America cut their price target on PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. The Goldman Sachs Group decreased their price objective on PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Wedbush restated an “outperform” rating and issued a $135.00 price objective on shares of PulteGroup in a research note on Friday, January 31st. Finally, Wells Fargo & Company cut their price target on PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently 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.