Bryce Point Capital LLC Invests $444,000 in PulteGroup, Inc. (NYSE:PHM)

Bryce Point Capital LLC bought a new stake in shares of PulteGroup, Inc. (NYSE:PHM) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,080 shares of the construction company’s stock, valued at approximately $444,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Richardson Financial Services Inc. grew its position in shares of PulteGroup by 16.7% during the 4th quarter. Richardson Financial Services Inc. now owns 622 shares of the construction company’s stock valued at $68,000 after acquiring an additional 89 shares during the period. Premier Path Wealth Partners LLC grew its holdings in PulteGroup by 3.8% during the fourth quarter. Premier Path Wealth Partners LLC now owns 2,572 shares of the construction company’s stock valued at $280,000 after purchasing an additional 95 shares during the period. Meridian Wealth Management LLC increased its position in PulteGroup by 0.7% in the fourth quarter. Meridian Wealth Management LLC now owns 13,224 shares of the construction company’s stock worth $1,440,000 after buying an additional 95 shares in the last quarter. Fidelis Capital Partners LLC raised its stake in shares of PulteGroup by 2.4% in the fourth quarter. Fidelis Capital Partners LLC now owns 4,384 shares of the construction company’s stock worth $479,000 after buying an additional 103 shares during the period. Finally, Wedmont Private Capital lifted its position in shares of PulteGroup by 3.7% during the 4th quarter. Wedmont Private Capital now owns 3,050 shares of the construction company’s stock valued at $328,000 after buying an additional 110 shares in the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PHM has been the topic of a number of recent analyst reports. Bank of America decreased their target price on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. Barclays lowered their target price on shares of PulteGroup from $125.00 to $117.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Oppenheimer cut their price target on PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. Seaport Res Ptn raised PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 6th. Finally, Wedbush reiterated an “outperform” rating and set a $135.00 target price on shares of PulteGroup in a research report on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $140.86.

PulteGroup Trading Up 3.4 %

Shares of PHM opened at $101.05 on Friday. PulteGroup, Inc. has a fifty-two week low of $95.14 and a fifty-two week high of $149.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86. The company’s fifty day moving average is $106.12 and its 200 day moving average is $120.21. The stock has a market capitalization of $20.46 billion, a PE ratio of 6.87, a P/E/G ratio of 0.29 and a beta of 1.44.

PulteGroup (NYSE:PHM) last announced its earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.22. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. Sell-side analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date was Tuesday, March 18th. PulteGroup’s dividend payout ratio (DPR) is 5.98%.

PulteGroup declared that its board has initiated a share buyback plan on Thursday, January 30th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to buy up to 6.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, EVP Todd N. Sheldon sold 15,191 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $106.50, for a total value of $1,617,841.50. Following the sale, the executive vice president now owns 74,758 shares of the company’s stock, valued at approximately $7,961,727. This represents a 16.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Brian P. Anderson sold 2,500 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $106.45, for a total transaction of $266,125.00. Following the completion of the sale, the director now owns 56,617 shares of the company’s stock, valued at $6,026,879.65. This trade represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,191 shares of company stock valued at $2,256,367. 0.76% of the stock is currently owned by insiders.

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.