11,924 Shares in PulteGroup, Inc. (NYSE:PHM) Purchased by Entropy Technologies LP

Entropy Technologies LP acquired a new position in shares of PulteGroup, Inc. (NYSE:PHM) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,924 shares of the construction company’s stock, valued at approximately $1,299,000.

Other hedge funds have also added to or reduced their stakes in the company. Fortitude Family Office LLC grew its position in shares of PulteGroup by 115.1% during the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock valued at $27,000 after acquiring an additional 99 shares during the period. Transcendent Capital Group LLC bought a new position in PulteGroup during the third quarter valued at $29,000. Hager Investment Management Services LLC bought a new position in PulteGroup during the fourth quarter valued at $29,000. R Squared Ltd purchased a new stake in PulteGroup in the fourth quarter worth $39,000. Finally, JNBA Financial Advisors bought a new stake in shares of PulteGroup in the third quarter valued at $43,000. Institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Performance

Shares of PHM opened at $106.55 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.73 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average price of $115.02 and a 200-day moving average price of $126.92. The company has a market cap of $21.85 billion, a PE ratio of 7.24, a price-to-earnings-growth ratio of 0.29 and a beta of 1.68. PulteGroup, Inc. has a 12-month low of $100.24 and a 12-month high of $149.47.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, topping analysts’ consensus estimates of $3.28 by $0.22. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. As a group, equities analysts forecast that PulteGroup, Inc. will post 12.43 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a yield of 0.83%. PulteGroup’s dividend payout ratio is presently 5.98%.

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PHM. The Goldman Sachs Group decreased their price objective on PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Seaport Res Ptn downgraded shares of PulteGroup from a “hold” rating to a “strong sell” rating in a research note on Monday, January 27th. Evercore ISI dropped their price target on shares of PulteGroup from $198.00 to $195.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Wells Fargo & Company reduced their price objective on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Finally, Bank of America dropped their target price on PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $140.86.

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.