PulteGroup, Inc. (NYSE:PHM) Shares Acquired by Prana Capital Management LP

Prana Capital Management LP grew its holdings in PulteGroup, Inc. (NYSE:PHM) by 295.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 179,685 shares of the construction company’s stock after purchasing an additional 134,263 shares during the period. Prana Capital Management LP owned approximately 0.09% of PulteGroup worth $19,568,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of PHM. Harbor Capital Advisors Inc. raised its holdings in shares of PulteGroup by 3.2% in the 4th quarter. Harbor Capital Advisors Inc. now owns 4,559 shares of the construction company’s stock valued at $496,000 after buying an additional 143 shares during the period. Czech National Bank boosted its position in shares of PulteGroup by 5.2% during the 4th quarter. Czech National Bank now owns 44,466 shares of the construction company’s stock worth $4,842,000 after acquiring an additional 2,192 shares in the last quarter. Fiduciary Alliance LLC acquired a new position in shares of PulteGroup during the 4th quarter worth about $450,000. Capital Investment Advisors LLC boosted its position in shares of PulteGroup by 11.0% during the 4th quarter. Capital Investment Advisors LLC now owns 3,381 shares of the construction company’s stock worth $368,000 after acquiring an additional 335 shares in the last quarter. Finally, Wedmont Private Capital boosted its position in shares of PulteGroup by 3.7% during the 4th quarter. Wedmont Private Capital now owns 3,050 shares of the construction company’s stock worth $328,000 after acquiring an additional 110 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Performance

NYSE PHM opened at $102.21 on Thursday. PulteGroup, Inc. has a 1-year low of $88.07 and a 1-year high of $149.47. The company has a market capitalization of $20.49 billion, a P/E ratio of 6.95, a PEG ratio of 0.29 and a beta of 1.37. The business has a 50 day moving average price of $100.98 and a 200 day moving average price of $111.64. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86.

PulteGroup (NYSE:PHM) last released its quarterly earnings results 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. The company had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.86 billion. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. During the same quarter last year, the business posted $3.10 earnings per share. Sell-side analysts expect that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup declared that its board has approved a stock repurchase plan on Thursday, January 30th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 6.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

PulteGroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 17th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Tuesday, June 17th. PulteGroup’s payout ratio is currently 6.21%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wells Fargo & Company decreased their target price on PulteGroup from $140.00 to $120.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Seaport Res Ptn raised PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 6th. Bank of America decreased their target price on PulteGroup from $135.00 to $134.00 and set a “buy” rating for the company in a research report on Monday, January 27th. Evercore ISI lifted their target price on PulteGroup from $161.00 to $165.00 and gave the company an “outperform” rating in a research note on Wednesday, April 23rd. Finally, Wedbush restated an “outperform” rating and set a $135.00 price target on shares of PulteGroup in a research note on Tuesday, April 22nd. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.69.

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.