PulteGroup, Inc. (NYSE:PHM) Shares Acquired by Apollon Wealth Management LLC

Apollon Wealth Management LLC grew its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 15.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,152 shares of the construction company’s stock after purchasing an additional 1,779 shares during the period. Apollon Wealth Management LLC’s holdings in PulteGroup were worth $1,358,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PHM. Strs Ohio increased its position in shares of PulteGroup by 1.2% in the 3rd quarter. Strs Ohio now owns 76,791 shares of the construction company’s stock valued at $5,686,000 after acquiring an additional 910 shares during the period. Advisor Partners II LLC boosted its position in PulteGroup by 1.5% in the third quarter. Advisor Partners II LLC now owns 11,998 shares of the construction company’s stock valued at $888,000 after buying an additional 182 shares during the last quarter. Inspire Investing LLC increased its holdings in PulteGroup by 65.4% in the 3rd quarter. Inspire Investing LLC now owns 13,394 shares of the construction company’s stock worth $992,000 after buying an additional 5,295 shares during the period. TD Asset Management Inc raised its position in PulteGroup by 44.1% during the 3rd quarter. TD Asset Management Inc now owns 173,105 shares of the construction company’s stock worth $12,818,000 after buying an additional 52,980 shares during the last quarter. Finally, ING Groep NV lifted its stake in PulteGroup by 351.6% during the 3rd quarter. ING Groep NV now owns 144,009 shares of the construction company’s stock valued at $10,664,000 after acquiring an additional 112,122 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Stock Down 1.0 %

PHM stock opened at $115.81 on Thursday. The stock has a market capitalization of $24.36 billion, a P/E ratio of 9.27, a P/E/G ratio of 0.52 and a beta of 1.56. PulteGroup, Inc. has a 52 week low of $65.16 and a 52 week high of $121.07. The firm has a 50-day simple moving average of $112.90 and a 200-day simple moving average of $101.97. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.18.

PulteGroup announced that its Board of Directors has initiated a share buyback program on Tuesday, January 30th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the construction company to purchase up to 6.5% of its shares through open market purchases. Shares repurchase programs 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 Tuesday, July 2nd. Shareholders of record on Tuesday, June 18th will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, June 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.69%. PulteGroup’s payout ratio is currently 6.41%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Jefferies Financial Group increased their price objective on shares of PulteGroup from $126.00 to $131.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. The Goldman Sachs Group lifted their price objective on PulteGroup from $91.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, January 11th. Raymond James reissued an “outperform” rating and issued a $135.00 price objective (up previously from $120.00) on shares of PulteGroup in a report on Thursday, April 25th. Barclays raised their target price on PulteGroup from $126.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Finally, Oppenheimer boosted their price target on PulteGroup from $138.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $111.73.

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.