Inceptionr LLC Buys 6,906 Shares of PulteGroup, Inc. $PHM

Inceptionr LLC lifted its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 137.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,927 shares of the construction company’s stock after acquiring an additional 6,906 shares during the quarter. Inceptionr LLC’s holdings in PulteGroup were worth $1,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in PHM. Norges Bank bought a new position in shares of PulteGroup during the fourth quarter worth about $466,653,000. American Century Companies Inc. raised its position in shares of PulteGroup by 120.4% during the third quarter. American Century Companies Inc. now owns 1,703,049 shares of the construction company’s stock worth $225,024,000 after acquiring an additional 930,287 shares during the last quarter. Franklin Resources Inc. grew its stake in PulteGroup by 5.1% during the fourth quarter. Franklin Resources Inc. now owns 13,555,304 shares of the construction company’s stock worth $1,589,495,000 after purchasing an additional 655,033 shares during the period. First Trust Advisors LP grew its stake in PulteGroup by 13.3% during the third quarter. First Trust Advisors LP now owns 3,623,917 shares of the construction company’s stock worth $478,828,000 after purchasing an additional 424,011 shares during the period. Finally, PFA Pension Forsikringsaktieselskab acquired a new stake in PulteGroup during the fourth quarter worth approximately $40,739,000. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Trading Down 3.3%

NYSE PHM opened at $118.74 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.94 and a quick ratio of 0.94. PulteGroup, Inc. has a one year low of $98.27 and a one year high of $144.49. The business has a 50 day simple moving average of $119.36 and a 200 day simple moving average of $124.16. The stock has a market capitalization of $22.62 billion, a P/E ratio of 11.48, a P/E/G ratio of 1.56 and a beta of 1.20.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Thursday, April 23rd. The construction company reported $1.79 EPS for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.01). PulteGroup had a net margin of 12.14% and a return on equity of 16.41%. The firm had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.40 billion. During the same period last year, the business posted $2.57 EPS. The company’s revenue was down 12.4% on a year-over-year basis. Research analysts expect that PulteGroup, Inc. will post 10 earnings per share for the current year.

PulteGroup announced that its Board of Directors has approved a share buyback plan on Thursday, April 23rd that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the construction company to buy up to 6.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

PulteGroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Tuesday, June 16th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 16th. PulteGroup’s dividend payout ratio (DPR) is 10.06%.

Insider Buying and Selling

In other PulteGroup news, Director Lila Snyder sold 3,339 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $117.18, for a total value of $391,264.02. Following the completion of the sale, the director owned 3,540 shares of the company’s stock, valued at approximately $414,817.20. This trade represents a 48.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Matthew William Koart sold 7,457 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $120.00, for a total value of $894,840.00. Following the completion of the sale, the chief operating officer directly owned 28,100 shares of the company’s stock, valued at $3,372,000. This trade represents a 20.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.75% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PHM shares. Seaport Research Partners reaffirmed a “sell” rating and set a $100.00 target price (down from $155.00) on shares of PulteGroup in a research note on Tuesday, April 7th. UBS Group raised their target price on PulteGroup from $159.00 to $162.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Wells Fargo & Company raised their target price on PulteGroup from $132.00 to $140.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. Citigroup raised their target price on PulteGroup from $136.00 to $138.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Finally, Zacks Research raised PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Ten analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, PulteGroup presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.71.

About PulteGroup

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.