Virtu Financial LLC Invests $1.16 Million in PulteGroup, Inc. (NYSE:PHM)

Virtu Financial LLC bought a new position in PulteGroup, Inc. (NYSE:PHM) during the fourth quarter, Holdings Channel reports. The fund bought 10,651 shares of the construction company’s stock, valued at approximately $1,160,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PHM. FMR LLC grew its position in shares of PulteGroup by 102.3% in the 3rd quarter. FMR LLC now owns 9,040,828 shares of the construction company’s stock worth $1,297,630,000 after buying an additional 4,571,757 shares during the period. Amundi grew its position in shares of PulteGroup by 77.9% in the 4th quarter. Amundi now owns 1,636,562 shares of the construction company’s stock worth $180,775,000 after buying an additional 716,716 shares during the period. Franklin Resources Inc. grew its position in shares of PulteGroup by 5.5% in the 3rd quarter. Franklin Resources Inc. now owns 11,254,274 shares of the construction company’s stock worth $1,647,364,000 after buying an additional 585,735 shares during the period. Westfield Capital Management Co. LP purchased a new stake in shares of PulteGroup in the 3rd quarter worth about $66,485,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in PulteGroup by 357.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 521,958 shares of the construction company’s stock valued at $74,917,000 after purchasing an additional 407,764 shares during the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Price Performance

Shares of NYSE:PHM opened at $103.04 on Monday. The firm’s 50 day moving average price is $108.54 and its 200-day moving average price is $122.16. PulteGroup, Inc. has a twelve month low of $100.35 and a twelve month high of $149.47. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $20.86 billion, a PE ratio of 7.00, a price-to-earnings-growth ratio of 0.29 and a beta of 1.71.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 earnings per share 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%. Equities research analysts expect that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup announced that its board has approved a share repurchase program on Thursday, January 30th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the construction company to reacquire up to 6.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

PulteGroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Tuesday, March 18th. PulteGroup’s payout ratio is 5.98%.

Insiders Place Their Bets

In other PulteGroup news, Director Brian P. Anderson sold 2,500 shares of the firm’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 in the company, valued at approximately $6,026,879.65. This trade represents a 4.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Todd N. Sheldon sold 15,191 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $106.50, for a total transaction of $1,617,841.50. Following the sale, the executive vice president now owns 74,758 shares in the company, valued at approximately $7,961,727. The trade was a 16.89 % 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 worth $2,256,367. Company insiders own 0.83% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.