Lindbrook Capital LLC Boosts Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Lindbrook Capital LLC increased its position in shares of PulteGroup, Inc. (NYSE:PHM) by 335.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 379 shares of the construction company’s stock after purchasing an additional 292 shares during the period. Lindbrook Capital LLC’s holdings in PulteGroup were worth $39,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. abrdn plc raised its holdings in PulteGroup by 52.4% during the fourth quarter. abrdn plc now owns 117,734 shares of the construction company’s stock worth $12,153,000 after purchasing an additional 40,469 shares in the last quarter. J.W. Cole Advisors Inc. grew its position in PulteGroup by 7.2% during the fourth quarter. J.W. Cole Advisors Inc. now owns 3,040 shares of the construction company’s stock worth $314,000 after buying an additional 204 shares during the period. Fidelis Capital Partners LLC acquired a new position in PulteGroup during the fourth quarter worth about $294,000. AIA Group Ltd acquired a new position in PulteGroup during the fourth quarter worth about $375,000. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its position in PulteGroup by 0.4% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 62,894 shares of the construction company’s stock worth $6,492,000 after buying an additional 246 shares during the period. 89.90% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other PulteGroup news, VP Brien P. O’meara sold 2,000 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total transaction of $206,180.00. Following the transaction, the vice president now owns 15,389 shares of the company’s stock, valued at $1,586,452.01. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.83% of the stock is currently owned by insiders.

PulteGroup Stock Performance

NYSE:PHM opened at $111.36 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.18. The company has a market cap of $23.42 billion, a P/E ratio of 8.92, a P/E/G ratio of 0.54 and a beta of 1.56. PulteGroup, Inc. has a fifty-two week low of $64.41 and a fifty-two week high of $121.07. The firm’s 50 day moving average is $111.04 and its two-hundred day moving average is $99.13.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, January 30th. The construction company reported $3.28 earnings per share for the quarter, topping analysts’ consensus estimates of $3.21 by $0.07. The company had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.47 billion. PulteGroup had a net margin of 16.63% and a return on equity of 25.81%. PulteGroup’s revenue was down 15.5% on a year-over-year basis. During the same quarter last year, the firm posted $3.63 earnings per share. Analysts expect that PulteGroup, Inc. will post 11.96 EPS for the current year.

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

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Friday, March 15th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date was Thursday, March 14th. PulteGroup’s dividend payout ratio is currently 6.41%.

Wall Street Analyst Weigh In

PHM has been the topic of several recent analyst reports. Zelman & Associates upgraded shares of PulteGroup from a “neutral” rating to an “outperform” rating in a research report on Wednesday. Oppenheimer increased their price target on shares of PulteGroup from $138.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday. Raymond James reiterated an “outperform” rating and issued a $135.00 price target (up from $120.00) on shares of PulteGroup in a research report on Thursday. Jefferies Financial Group increased their price target on shares of PulteGroup from $126.00 to $131.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Barclays increased their price target on shares of PulteGroup from $126.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, PulteGroup presently has a consensus 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.