HAP Trading LLC Grows Holdings in PulteGroup, Inc. (PHM)

HAP Trading LLC grew its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 124.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 320,252 shares of the construction company’s stock after purchasing an additional 177,739 shares during the period. HAP Trading LLC’s holdings in PulteGroup were worth $10,648,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. grew its stake in PulteGroup by 3.0% during the fourth quarter. BlackRock Inc. now owns 22,912,891 shares of the construction company’s stock worth $761,852,000 after buying an additional 658,662 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of PulteGroup by 0.6% in the third quarter. Dimensional Fund Advisors LP now owns 10,574,407 shares of the construction company’s stock valued at $288,984,000 after purchasing an additional 67,782 shares during the period. Greenhaven Associates Inc. boosted its stake in shares of PulteGroup by 0.3% in the fourth quarter. Greenhaven Associates Inc. now owns 5,749,401 shares of the construction company’s stock valued at $191,168,000 after purchasing an additional 14,853 shares during the period. American Century Companies Inc. boosted its stake in shares of PulteGroup by 1.0% in the third quarter. American Century Companies Inc. now owns 4,774,847 shares of the construction company’s stock valued at $130,497,000 after purchasing an additional 45,977 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of PulteGroup by 26.0% in the fourth quarter. Bank of New York Mellon Corp now owns 3,562,243 shares of the construction company’s stock valued at $118,444,000 after purchasing an additional 735,368 shares during the period. Institutional investors own 83.80% of the company’s stock.

PHM has been the subject of several analyst reports. Wedbush restated a “neutral” rating and issued a $22.00 target price (down from $27.00) on shares of PulteGroup in a research note on Tuesday, October 24th. Credit Suisse Group set a $35.00 target price on shares of PulteGroup and gave the company a “buy” rating in a research note on Tuesday, October 24th. UBS Group initiated coverage on shares of PulteGroup in a research note on Wednesday, October 25th. They issued a “buy” rating and a $38.00 target price for the company. Royal Bank of Canada upped their target price on shares of PulteGroup from $28.00 to $33.00 and gave the company an “outperform” rating in a research note on Wednesday, October 25th. Finally, FBR & Co restated a “buy” rating and issued a $31.00 target price (up from $28.00) on shares of PulteGroup in a research note on Wednesday, October 25th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $32.85.

Shares of PulteGroup, Inc. (NYSE:PHM) opened at $29.74 on Monday. The stock has a market cap of $8,519.47, a price-to-earnings ratio of 13.34, a P/E/G ratio of 0.47 and a beta of 1.03. PulteGroup, Inc. has a twelve month low of $21.13 and a twelve month high of $35.21.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, January 30th. The construction company reported $0.85 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.85. The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.82 billion. PulteGroup had a net margin of 5.22% and a return on equity of 15.52%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.67 earnings per share. research analysts predict that PulteGroup, Inc. will post 3.11 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 3rd. Investors of record on Friday, March 16th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Thursday, March 15th. This represents a $0.36 annualized dividend and a yield of 1.21%. PulteGroup’s dividend payout ratio is presently 25.00%.

PulteGroup announced that its board has initiated a stock repurchase plan on Tuesday, January 30th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the construction company to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

In related news, CFO Robert Oshaughnessy sold 92,800 shares of the company’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $33.89, for a total value of $3,144,992.00. Following the sale, the chief financial officer now directly owns 363,722 shares of the company’s stock, valued at $12,326,538.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.71% of the company’s stock.

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About PulteGroup

PulteGroup, Inc is a homebuilder in the United States. The Company’s segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land.

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Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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