Empirical Financial Services LLC d.b.a. Empirical Wealth Management Purchases 7,073 Shares of PulteGroup, Inc. (NYSE:PHM)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in shares of PulteGroup, Inc. (NYSE:PHM) by 16.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 49,214 shares of the construction company’s stock after purchasing an additional 7,073 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in PulteGroup were worth $5,080,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Baystate Wealth Management LLC grew its holdings in shares of PulteGroup by 186.5% in the third quarter. Baystate Wealth Management LLC now owns 490 shares of the construction company’s stock valued at $36,000 after acquiring an additional 319 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new position in PulteGroup in the 3rd quarter valued at $36,000. Rakuten Securities Inc. purchased a new stake in shares of PulteGroup during the 4th quarter valued at $37,000. Lindbrook Capital LLC raised its stake in shares of PulteGroup by 335.6% during the 4th quarter. Lindbrook Capital LLC now owns 379 shares of the construction company’s stock worth $39,000 after purchasing an additional 292 shares during the period. Finally, ORG Partners LLC grew its position in PulteGroup by 3,463.6% during the fourth quarter. ORG Partners LLC now owns 392 shares of the construction company’s stock valued at $40,000 after buying an additional 381 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PHM. Wedbush reaffirmed a “neutral” rating and set a $85.00 price target on shares of PulteGroup in a research report on Wednesday, January 31st. Zelman & Associates upgraded shares of PulteGroup from a “neutral” rating to an “outperform” rating in a research note on Wednesday, April 24th. Barclays raised their price objective on shares of PulteGroup from $126.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. StockNews.com upgraded PulteGroup from a “hold” rating to a “buy” rating in a research note on Wednesday, April 24th. Finally, Jefferies Financial Group increased their target price on shares of PulteGroup from $126.00 to $131.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $111.73.

PulteGroup Stock Down 0.6 %

PHM traded down $0.70 during trading on Tuesday, reaching $116.95. The stock had a trading volume of 1,881,938 shares, compared to its average volume of 1,810,755. PulteGroup, Inc. has a one year low of $65.16 and a one year high of $121.07. The company has a market capitalization of $24.60 billion, a price-to-earnings ratio of 9.36, a P/E/G ratio of 0.52 and a beta of 1.56. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18. The stock’s 50 day moving average is $112.71 and its two-hundred day moving average is $101.88.

PulteGroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 18th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Tuesday, June 18th. PulteGroup’s payout ratio is 6.41%.

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

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.