Panagora Asset Management Inc. boosted its holdings in PulteGroup, Inc. (NYSE:PHM) by 9.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,487,230 shares of the construction company’s stock after purchasing an additional 127,168 shares during the quarter. Panagora Asset Management Inc. owned approximately 0.57% of PulteGroup worth $77,990,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. DB Wealth Management Group LLC acquired a new position in PulteGroup in the fourth quarter valued at $36,000. Arkadios Wealth Advisors grew its position in PulteGroup by 149.6% during the first quarter. Arkadios Wealth Advisors now owns 836 shares of the construction company’s stock valued at $43,000 after acquiring an additional 501 shares during the period. Jacobi Capital Management LLC grew its position in PulteGroup by 285.3% during the first quarter. Jacobi Capital Management LLC now owns 1,129 shares of the construction company’s stock valued at $59,000 after acquiring an additional 836 shares during the period. Alpha DNA Investment Management LLC purchased a new stake in PulteGroup during the fourth quarter valued at about $53,000. Finally, CWM LLC grew its position in PulteGroup by 68.7% during the first quarter. CWM LLC now owns 1,297 shares of the construction company’s stock valued at $68,000 after acquiring an additional 528 shares during the period. Hedge funds and other institutional investors own 85.18% of the company’s stock.
In other PulteGroup news, Director Brian P. Anderson sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, April 30th. The stock was sold at an average price of $59.29, for a total transaction of $88,935.00. Following the sale, the director now owns 64,881 shares in the company, valued at $3,846,794.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.61% of the company’s stock.
PHM traded up $0.75 on Friday, reaching $54.74. The company’s stock had a trading volume of 18,131 shares, compared to its average volume of 2,997,580. The firm has a market cap of $14.39 billion, a PE ratio of 9.81 and a beta of 1.44. PulteGroup, Inc. has a 1 year low of $31.55 and a 1 year high of $63.90. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a 50 day moving average of $56.48.
PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Tuesday, April 27th. The construction company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.06. The firm had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.89 billion. PulteGroup had a return on equity of 22.42% and a net margin of 13.14%. PulteGroup’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.74 earnings per share. Research analysts anticipate that PulteGroup, Inc. will post 7.68 earnings per share for the current year.
PulteGroup announced that its Board of Directors has initiated a stock buyback plan on Tuesday, April 27th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the construction company to buy up to 6.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 2nd. Shareholders of record on Friday, June 11th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.02%. The ex-dividend date is Thursday, June 10th. PulteGroup’s payout ratio is currently 11.89%.
PulteGroup Company Profile
PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company acquires and develops land primarily for residential purposes; and constructs housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, American West, and John Wieland Homes and Neighborhoods brand names.
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