PulteGroup, Inc. (NYSE:PHM) Shares Bought by Montag A & Associates Inc.

Montag A & Associates Inc. increased its position in PulteGroup, Inc. (NYSE:PHM) by 6.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 35,903 shares of the construction company’s stock after acquiring an additional 2,327 shares during the period. Montag A & Associates Inc.’s holdings in PulteGroup were worth $3,712,000 at the end of the most recent quarter.

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

PulteGroup Price Performance

Shares of NYSE:PHM traded up $1.27 during midday trading on Thursday, reaching $117.06. The company’s stock had a trading volume of 1,277,525 shares, compared to its average volume of 1,799,080. PulteGroup, Inc. has a fifty-two week low of $65.16 and a fifty-two week high of $121.07. The business’s fifty day simple moving average is $113.07 and its 200-day simple moving average is $102.08. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market capitalization of $24.62 billion, a P/E ratio of 9.37, a P/E/G ratio of 0.52 and a beta of 1.56.

PulteGroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 18th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.68%. PulteGroup’s payout ratio is currently 6.41%.

PulteGroup announced that its board has approved a share repurchase program on Tuesday, January 30th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to reacquire up to 6.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Jefferies Financial Group raised their target price on PulteGroup from $126.00 to $131.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. StockNews.com upgraded shares of PulteGroup from a “hold” rating to a “buy” rating in a report on Wednesday, April 24th. Wedbush restated a “neutral” rating and set a $85.00 target price on shares of PulteGroup in a research note on Wednesday, January 31st. Citigroup raised their price objective on shares of PulteGroup from $116.00 to $127.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Finally, Royal Bank of Canada raised their price target on shares of PulteGroup from $106.00 to $113.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.