21,064 Shares in PulteGroup, Inc. (NYSE:PHM) Bought by Myriad Asset Management US LP

Myriad Asset Management US LP purchased a new position in PulteGroup, Inc. (NYSE:PHM) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 21,064 shares of the construction company’s stock, valued at approximately $2,294,000. PulteGroup comprises about 1.5% of Myriad Asset Management US LP’s holdings, making the stock its 12th largest holding.

Other large investors have also made changes to their positions in the company. Cromwell Holdings LLC grew its stake in shares of PulteGroup by 17.2% in the 3rd quarter. Cromwell Holdings LLC now owns 565 shares of the construction company’s stock valued at $81,000 after purchasing an additional 83 shares during the period. Concord Wealth Partners lifted its stake in shares of PulteGroup by 1.7% in the 3rd quarter. Concord Wealth Partners now owns 5,002 shares of the construction company’s stock valued at $718,000 after purchasing an additional 83 shares during the period. Ashton Thomas Private Wealth LLC increased its position in shares of PulteGroup by 3.0% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 3,054 shares of the construction company’s stock valued at $438,000 after buying an additional 88 shares in the last quarter. Richardson Financial Services Inc. increased its position in shares of PulteGroup by 16.7% in the 4th quarter. Richardson Financial Services Inc. now owns 622 shares of the construction company’s stock valued at $68,000 after buying an additional 89 shares in the last quarter. Finally, Premier Path Wealth Partners LLC increased its holdings in PulteGroup by 3.8% during the 4th quarter. Premier Path Wealth Partners LLC now owns 2,572 shares of the construction company’s stock worth $280,000 after purchasing an additional 95 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Stock Up 0.7 %

Shares of PulteGroup stock opened at $107.45 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.73 and a current ratio of 0.86. The stock has a market capitalization of $22.04 billion, a PE ratio of 7.30, a price-to-earnings-growth ratio of 0.29 and a beta of 1.68. PulteGroup, Inc. has a 52-week low of $100.24 and a 52-week high of $149.47. The company has a 50-day simple moving average of $113.02 and a two-hundred day simple moving average of $126.35.

PulteGroup (NYSE:PHM) last issued its earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share (EPS) for the quarter, topping 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%. On average, analysts anticipate that PulteGroup, Inc. will post 12.43 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be paid a $0.22 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.82%. PulteGroup’s dividend payout ratio is presently 5.98%.

PulteGroup announced that its Board of Directors has initiated a stock repurchase plan on Thursday, January 30th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to purchase up to 6.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

PHM has been the subject of several recent analyst reports. StockNews.com downgraded shares of PulteGroup from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Evercore ISI decreased their target price on shares of PulteGroup from $198.00 to $195.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Barclays cut their price target on shares of PulteGroup from $125.00 to $117.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. UBS Group lifted their price target on shares of PulteGroup from $148.00 to $151.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Finally, Bank of America dropped their target price on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $140.86.

Insider Transactions at PulteGroup

In other news, EVP Todd N. Sheldon sold 15,191 shares of PulteGroup stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 74,758 shares in the company, valued at $7,961,727. The trade was a 16.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Brian P. Anderson sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $106.45, for a total transaction of $266,125.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,191 shares of company stock worth $2,256,367 over the last three months. 0.83% of the stock is currently owned by company 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.