432,808 Shares in PulteGroup, Inc. (NYSE:PHM) Acquired by Voloridge Investment Management LLC

Voloridge Investment Management LLC purchased a new stake in PulteGroup, Inc. (NYSE:PHM) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 432,808 shares of the construction company’s stock, valued at approximately $47,133,000. Voloridge Investment Management LLC owned 0.21% of PulteGroup at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Hager Investment Management Services LLC acquired a new position in PulteGroup during the fourth quarter valued at approximately $29,000. TD Waterhouse Canada Inc. boosted its holdings in shares of PulteGroup by 43.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company’s stock worth $38,000 after acquiring an additional 105 shares during the period. R Squared Ltd bought a new stake in PulteGroup in the 4th quarter valued at $39,000. Quarry LP acquired a new position in shares of PulteGroup in the fourth quarter valued at about $43,000. Finally, Oakworth Capital Inc. increased its position in PulteGroup by 642.2% during the fourth quarter. Oakworth Capital Inc. now owns 475 shares of the construction company’s stock worth $52,000 after acquiring an additional 411 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PHM shares. Wedbush reaffirmed an “outperform” rating and set a $135.00 target price on shares of PulteGroup in a report on Tuesday, April 22nd. Oppenheimer cut their target price on PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. Barclays dropped their target price on shares of PulteGroup from $100.00 to $98.00 and set an “equal weight” rating for the company in a report on Wednesday, April 23rd. UBS Group dropped their price target on PulteGroup from $151.00 to $141.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Finally, Royal Bank of Canada lowered their price objective on PulteGroup from $116.00 to $109.00 and set a “sector perform” rating for the company in a research note on Wednesday, April 23rd. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, PulteGroup presently has an average rating of “Moderate Buy” and an average target price of $134.69.

PulteGroup Price Performance

Shares of NYSE PHM opened at $101.17 on Wednesday. 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 company has a market capitalization of $20.28 billion, a PE ratio of 6.88, a P/E/G ratio of 0.29 and a beta of 1.37. The firm has a fifty day simple moving average of $100.85 and a 200 day simple moving average of $110.74. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month high of $149.47.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Tuesday, April 22nd. The construction company reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.10. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. The firm had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.86 billion. During the same period last year, the company posted $3.10 EPS. On average, sell-side analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 17th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.87%. The ex-dividend date is Tuesday, June 17th. PulteGroup’s dividend payout ratio is presently 6.21%.

PulteGroup declared that its Board of Directors has initiated a stock repurchase program on Thursday, January 30th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the construction company to buy up to 6.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

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.