PulteGroup, Inc. (NYSE:PHM) Shares Acquired by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC lifted its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 6.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,532 shares of the construction company’s stock after purchasing an additional 202 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in PulteGroup were worth $365,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its stake in PulteGroup by 54.6% in the fourth quarter. Pacer Advisors Inc. now owns 3,003,713 shares of the construction company’s stock valued at $310,043,000 after buying an additional 1,060,466 shares in the last quarter. Hsbc Holdings PLC lifted its stake in PulteGroup by 63.6% during the third quarter. Hsbc Holdings PLC now owns 1,748,119 shares of the construction company’s stock worth $129,354,000 after purchasing an additional 679,582 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in PulteGroup in the third quarter valued at approximately $47,762,000. Invesco Ltd. increased its stake in PulteGroup by 13.3% in the third quarter. Invesco Ltd. now owns 4,432,965 shares of the construction company’s stock valued at $328,261,000 after purchasing an additional 522,032 shares during the last quarter. Finally, QRG Capital Management Inc. acquired a new stake in PulteGroup during the third quarter worth approximately $27,738,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Trading Up 1.3 %

Shares of PHM traded up $1.52 during midday trading on Thursday, hitting $117.31. The stock had a trading volume of 556,267 shares, compared to its average volume of 1,790,294. The firm has a market cap of $24.67 billion, a P/E ratio of 9.27, a price-to-earnings-growth ratio of 0.52 and a beta of 1.56. The business has a 50-day simple moving average of $112.90 and a two-hundred day simple moving average of $101.97. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18. PulteGroup, Inc. has a fifty-two week low of $65.16 and a fifty-two week high of $121.07.

PulteGroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 18th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, June 14th. This represents a $0.80 annualized dividend and a dividend yield of 0.68%. PulteGroup’s dividend payout ratio (DPR) is presently 6.41%.

PulteGroup announced that its board has authorized a stock repurchase plan on Tuesday, January 30th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the construction company to reacquire up to 6.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

PHM has been the subject of several research analyst reports. Oppenheimer upped their target price on shares of PulteGroup from $138.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Barclays raised their price target on shares of PulteGroup from $126.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. The Goldman Sachs Group upped their price objective on shares of PulteGroup from $91.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, January 11th. Zelman & Associates raised shares of PulteGroup from a “neutral” rating to an “outperform” rating in a research note on Wednesday, April 24th. Finally, Raymond James reissued an “outperform” rating and issued a $135.00 price target (up from $120.00) on shares of PulteGroup in a research note on Thursday, April 25th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, PulteGroup currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.73.

PulteGroup Company 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.