Myriad Asset Management US LP Buys New Position in PulteGroup, Inc. (NYSE:PHM)

Myriad Asset Management US LP bought a new stake in shares of PulteGroup, Inc. (NYSE:PHM) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 21,064 shares of the construction company’s stock, valued at approximately $2,294,000. PulteGroup accounts for 1.5% of Myriad Asset Management US LP’s holdings, making the stock its 12th biggest holding.

A number of other hedge funds have also modified their holdings of the company. Fortitude Family Office LLC increased its stake in shares of PulteGroup by 115.1% in the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock worth $27,000 after purchasing an additional 99 shares in the last quarter. Transcendent Capital Group LLC bought a new position in PulteGroup during the third quarter valued at $29,000. Hager Investment Management Services LLC purchased a new stake in shares of PulteGroup in the fourth quarter valued at $29,000. R Squared Ltd purchased a new stake in shares of PulteGroup in the fourth quarter valued at $39,000. Finally, JNBA Financial Advisors purchased a new stake in shares of PulteGroup in the third quarter valued at $43,000. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Trading Up 0.7 %

Shares of PHM opened at $107.45 on Friday. PulteGroup, Inc. has a 52-week low of $100.24 and a 52-week high of $149.47. The company has a quick ratio of 0.73, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. The firm’s fifty day moving average is $113.02 and its two-hundred day moving average is $126.35. The stock has a market cap of $22.04 billion, a PE ratio of 7.30, a price-to-earnings-growth ratio of 0.29 and a beta of 1.68.

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

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

PulteGroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be given 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 0.82%. PulteGroup’s payout ratio is currently 5.98%.

Insider Buying and Selling at PulteGroup

In related news, Director Brian P. Anderson sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $106.45, for a total transaction of $266,125.00. Following the sale, the director now directly owns 56,617 shares in the company, valued at approximately $6,026,879.65. This represents a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Todd N. Sheldon sold 15,191 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $106.50, for a total transaction of $1,617,841.50. Following the sale, the executive vice president now owns 74,758 shares in the company, valued at $7,961,727. The trade was a 16.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,191 shares of company stock valued at $2,256,367 over the last 90 days. 0.83% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Seaport Res Ptn downgraded shares of PulteGroup from a “hold” rating to a “strong sell” rating in a research note on Monday, January 27th. Wedbush restated an “outperform” rating and issued a $135.00 price target on shares of PulteGroup in a report on Friday, January 31st. BTIG Research raised their price target on shares of PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. StockNews.com cut shares of PulteGroup from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Finally, Barclays lowered their target price on shares of PulteGroup from $125.00 to $117.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.