Machina Capital S.A.S. Takes Position in PulteGroup, Inc. (NYSE:PHM)

Machina Capital S.A.S. purchased a new stake in PulteGroup, Inc. (NYSE:PHM) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 6,022 shares of the construction company’s stock, valued at approximately $622,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. First Horizon Advisors Inc. grew its position in PulteGroup by 2.9% during the 4th quarter. First Horizon Advisors Inc. now owns 3,594 shares of the construction company’s stock worth $371,000 after acquiring an additional 100 shares during the last quarter. Aprio Wealth Management LLC lifted its stake in shares of PulteGroup by 3.1% in the 4th quarter. Aprio Wealth Management LLC now owns 3,583 shares of the construction company’s stock valued at $370,000 after purchasing an additional 107 shares during the period. KMG Fiduciary Partners LLC lifted its stake in shares of PulteGroup by 4.1% in the 4th quarter. KMG Fiduciary Partners LLC now owns 3,102 shares of the construction company’s stock valued at $320,000 after purchasing an additional 121 shares during the period. DNB Asset Management AS lifted its stake in shares of PulteGroup by 0.3% in the 4th quarter. DNB Asset Management AS now owns 43,391 shares of the construction company’s stock valued at $4,479,000 after purchasing an additional 123 shares during the period. Finally, Cascade Investment Advisors Inc. lifted its stake in shares of PulteGroup by 1.6% in the 4th quarter. Cascade Investment Advisors Inc. now owns 8,165 shares of the construction company’s stock valued at $843,000 after purchasing an additional 125 shares during the period. Institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Up 0.9 %

NYSE:PHM traded up $1.01 on Monday, hitting $117.65. The stock had a trading volume of 1,653,157 shares, compared to its average volume of 1,809,873. PulteGroup, Inc. has a 52 week low of $65.16 and a 52 week high of $121.07. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.18. The business’s fifty day moving average is $112.51 and its 200 day moving average is $101.54. The company has a market cap of $24.75 billion, a PE ratio of 9.42, a P/E/G ratio of 0.52 and a beta of 1.56.

PulteGroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 18th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.68%. PulteGroup’s dividend payout ratio is presently 6.41%.

PulteGroup announced that its Board of Directors has approved a share buyback plan on Tuesday, January 30th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to repurchase up to 6.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Citigroup boosted their price objective on PulteGroup from $116.00 to $127.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. StockNews.com raised PulteGroup from a “hold” rating to a “buy” rating in a research note on Wednesday, April 24th. Raymond James reissued an “outperform” rating and issued a $135.00 price objective (up from $120.00) on shares of PulteGroup in a research note on Thursday, April 25th. Royal Bank of Canada boosted their price objective on PulteGroup from $106.00 to $113.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 24th. Finally, Jefferies Financial Group upped their price target on PulteGroup from $126.00 to $131.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $111.73.

Insider Activity

In other news, VP Brien P. O’meara sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $103.09, for a total value of $206,180.00. Following the transaction, the vice president now owns 15,389 shares in the company, valued at $1,586,452.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.75% of the company’s stock.

About PulteGroup

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.