Apollon Wealth Management LLC Purchases 1,779 Shares of PulteGroup, Inc. (NYSE:PHM)

Apollon Wealth Management LLC increased its holdings in PulteGroup, Inc. (NYSE:PHM) by 15.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,152 shares of the construction company’s stock after purchasing an additional 1,779 shares during the quarter. Apollon Wealth Management LLC’s holdings in PulteGroup were worth $1,358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of PHM. Machina Capital S.A.S. purchased a new position in shares of PulteGroup during the fourth quarter valued at approximately $622,000. W.H. Cornerstone Investments Inc. purchased a new position in PulteGroup during the 4th quarter valued at $329,000. National Bank of Canada FI raised its holdings in PulteGroup by 5.2% in the 4th quarter. National Bank of Canada FI now owns 95,580 shares of the construction company’s stock worth $9,705,000 after purchasing an additional 4,729 shares in the last quarter. Vestmark Advisory Solutions Inc. purchased a new stake in shares of PulteGroup in the 4th quarter worth about $407,000. Finally, Axxcess Wealth Management LLC bought a new stake in shares of PulteGroup during the 4th quarter valued at about $310,000. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PHM shares. Royal Bank of Canada increased their price target on shares of PulteGroup from $106.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 24th. StockNews.com upgraded PulteGroup from a “hold” rating to a “buy” rating in a research report on Wednesday, April 24th. Citigroup increased their price objective on PulteGroup from $116.00 to $127.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Barclays boosted their target price on shares of PulteGroup from $126.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Finally, The Goldman Sachs Group increased their price target on shares of PulteGroup from $91.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, January 11th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $111.73.

PulteGroup Stock Performance

Shares of PHM opened at $115.81 on Thursday. The company has a market cap of $24.36 billion, a price-to-earnings ratio of 9.27, a P/E/G ratio of 0.52 and a beta of 1.56. The business’s fifty day simple moving average is $112.90 and its two-hundred day simple moving average is $101.97. PulteGroup, Inc. has a 12 month low of $65.16 and a 12 month high of $121.07. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18.

PulteGroup declared that its board has initiated a stock buyback plan on Tuesday, January 30th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 6.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

PulteGroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Tuesday, June 18th will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, June 18th. This represents a $0.80 annualized dividend and a dividend yield of 0.69%. PulteGroup’s dividend payout ratio (DPR) is presently 6.41%.

PulteGroup 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.