PulteGroup, Inc. (NYSE:PHM) Stock Position Increased by National Bank of Canada FI

National Bank of Canada FI grew its position in PulteGroup, Inc. (NYSE:PHM) by 5.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 95,580 shares of the construction company’s stock after purchasing an additional 4,729 shares during the period. National Bank of Canada FI’s holdings in PulteGroup were worth $9,705,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Greenhaven Associates Inc. grew its stake in shares of PulteGroup by 0.4% in the fourth quarter. Greenhaven Associates Inc. now owns 5,726,368 shares of the construction company’s stock worth $591,076,000 after purchasing an additional 24,350 shares in the last quarter. FMR LLC grew its position in PulteGroup by 1.8% in the 3rd quarter. FMR LLC now owns 5,484,469 shares of the construction company’s stock valued at $406,125,000 after buying an additional 95,945 shares in the last quarter. Invesco Ltd. increased its stake in PulteGroup by 13.3% during the 3rd quarter. Invesco Ltd. now owns 4,432,965 shares of the construction company’s stock valued at $328,261,000 after buying an additional 522,032 shares during the period. Morgan Stanley raised its position in shares of PulteGroup by 2.0% during the 3rd quarter. Morgan Stanley now owns 3,115,877 shares of the construction company’s stock worth $230,731,000 after buying an additional 61,953 shares in the last quarter. Finally, Pacer Advisors Inc. increased its stake in shares of PulteGroup by 54.6% during the fourth quarter. Pacer Advisors Inc. now owns 3,003,713 shares of the construction company’s stock valued at $310,043,000 after acquiring an additional 1,060,466 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PHM. Oppenheimer lifted their target price on PulteGroup from $138.00 to $143.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Raymond James reiterated an “outperform” rating and issued a $135.00 target price (up from $120.00) on shares of PulteGroup in a report on Thursday, April 25th. Jefferies Financial Group raised their target price on shares of PulteGroup from $126.00 to $131.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. StockNews.com raised PulteGroup from a “hold” rating to a “buy” rating in a report on Wednesday, April 24th. Finally, Wedbush reissued a “neutral” rating and set a $85.00 price objective on shares of PulteGroup in a research note on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, PulteGroup presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.73.

PulteGroup Trading Down 1.0 %

Shares of NYSE:PHM opened at $115.81 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $24.36 billion, a PE ratio of 9.27, a P/E/G ratio of 0.52 and a beta of 1.56. PulteGroup, Inc. has a 1 year low of $65.16 and a 1 year high of $121.07. The firm has a fifty day moving average price of $112.90 and a 200 day moving average price of $101.97.

PulteGroup Dividend Announcement

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 Tuesday, June 18th. This represents a $0.80 annualized dividend and a dividend yield of 0.69%. PulteGroup’s dividend payout ratio (DPR) is presently 6.41%.

PulteGroup declared that its Board of Directors has initiated a share repurchase 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 purchase up to 6.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

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.