Kovack Advisors Inc. Acquires New Position in PulteGroup, Inc. (NYSE:PHM)

Kovack Advisors Inc. purchased a new position in shares of PulteGroup, Inc. (NYSE:PHM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,906 shares of the construction company’s stock, valued at approximately $300,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Arlington Trust Co LLC purchased a new position in shares of PulteGroup during the 3rd quarter worth about $33,000. Baystate Wealth Management LLC increased its holdings in shares of PulteGroup by 186.5% during the 3rd quarter. Baystate Wealth Management LLC now owns 490 shares of the construction company’s stock worth $36,000 after buying an additional 319 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of PulteGroup in the 3rd quarter worth about $36,000. Rakuten Securities Inc. acquired a new position in shares of PulteGroup in the 4th quarter valued at about $37,000. Finally, Lindbrook Capital LLC increased its position in PulteGroup by 335.6% during the 4th quarter. Lindbrook Capital LLC now owns 379 shares of the construction company’s stock worth $39,000 after purchasing an additional 292 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Trading Up 0.7 %

Shares of NYSE PHM opened at $114.57 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.18. PulteGroup, Inc. has a 12 month low of $64.70 and a 12 month high of $121.07. The company has a market cap of $24.10 billion, a price-to-earnings ratio of 9.17, a P/E/G ratio of 0.51 and a beta of 1.56. The business has a fifty day simple moving average of $111.54 and a 200-day simple moving average of $100.06.

PulteGroup (NYSE:PHM) last announced its earnings results on Tuesday, January 30th. The construction company reported $3.28 EPS for the quarter, topping the consensus estimate of $3.21 by $0.07. The company had revenue of $4.29 billion during the quarter, compared to analysts’ expectations of $4.47 billion. PulteGroup had a net margin of 16.63% and a return on equity of 25.81%. The business’s revenue for the quarter was down 15.5% on a year-over-year basis. During the same period last year, the company posted $3.63 earnings per share. Sell-side analysts predict that PulteGroup, Inc. will post 12.66 EPS for the current year.

PulteGroup declared that its board has authorized a share buyback program on Tuesday, January 30th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the construction company to purchase up to 6.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

PulteGroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Friday, March 15th were issued a $0.20 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.70%. PulteGroup’s payout ratio is currently 6.41%.

Insider Activity

In related news, VP Brien P. O’meara sold 2,000 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $103.09, for a total transaction of $206,180.00. Following the transaction, the vice president now directly 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 Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.75% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on PHM. Citigroup raised their target price on shares of 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 report on Wednesday, April 24th. The Goldman Sachs Group increased their price objective on shares of PulteGroup from $91.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, January 11th. Jefferies Financial Group boosted their target price on shares of PulteGroup from $126.00 to $131.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, Royal Bank of Canada raised their price target on shares of PulteGroup from $106.00 to $113.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $111.73.

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.