Convergence Investment Partners LLC Grows Holdings in PulteGroup, Inc. (PHM)

Convergence Investment Partners LLC grew its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 26.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,554 shares of the construction company’s stock after buying an additional 8,692 shares during the quarter. Convergence Investment Partners LLC’s holdings in PulteGroup were worth $1,382,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PHM. Tower Research Capital LLC TRC boosted its stake in shares of PulteGroup by 3.8% in the second quarter. Tower Research Capital LLC TRC now owns 4,086 shares of the construction company’s stock valued at $100,000 after purchasing an additional 148 shares during the period. Invictus RG boosted its stake in shares of PulteGroup by 1,473.4% in the third quarter. Invictus RG now owns 4,264 shares of the construction company’s stock valued at $117,000 after purchasing an additional 3,993 shares during the period. Fieldpoint Private Securities LLC purchased a new position in shares of PulteGroup in the third quarter valued at $150,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of PulteGroup by 7.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,845 shares of the construction company’s stock valued at $168,000 after purchasing an additional 465 shares during the period. Finally, Koch Industries Inc. purchased a new position in shares of PulteGroup in the second quarter valued at $220,000. Institutional investors own 84.53% of the company’s stock.

Several brokerages have recently weighed in on PHM. Mizuho upgraded shares of PulteGroup from a “neutral” rating to a “buy” rating in a research note on Thursday. UBS Group upped their target price on shares of PulteGroup from $38.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday. Zacks Investment Research upgraded shares of PulteGroup from a “sell” rating to a “hold” rating and set a $40.00 target price for the company in a research note on Thursday, January 4th. B. Riley downgraded shares of PulteGroup from a “buy” rating to a “neutral” rating and upped their target price for the company from $31.00 to $36.00 in a research note on Wednesday, January 3rd. Finally, ValuEngine upgraded shares of PulteGroup from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $32.15.

Shares of PulteGroup, Inc. (PHM) opened at $34.15 on Friday. The stock has a market cap of $10,040.00, a price-to-earnings ratio of 16.74, a P/E/G ratio of 0.54 and a beta of 1.21. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.72. PulteGroup, Inc. has a twelve month low of $18.87 and a twelve month high of $35.01.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, October 24th. The construction company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.01. The firm had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.30 billion. PulteGroup had a net margin of 7.77% and a return on equity of 14.38%. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.43 earnings per share. equities analysts predict that PulteGroup, Inc. will post 2.2 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 3rd. Investors of record on Tuesday, December 12th were issued a $0.09 dividend. The ex-dividend date was Monday, December 11th. This represents a $0.36 annualized dividend and a yield of 1.05%. PulteGroup’s dividend payout ratio is presently 17.65%.

In related news, CFO Robert Oshaughnessy sold 92,800 shares of the company’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $33.89, for a total value of $3,144,992.00. Following the sale, the chief financial officer now directly owns 363,722 shares of the company’s stock, valued at $12,326,538.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James R. Ellinghausen sold 136,912 shares of the company’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $29.70, for a total transaction of $4,066,286.40. Following the completion of the sale, the insider now directly owns 294,369 shares in the company, valued at $8,742,759.30. The disclosure for this sale can be found here. Insiders sold 297,202 shares of company stock worth $9,394,580 over the last ninety days. 0.71% of the stock is currently owned by corporate insiders.

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PulteGroup Profile

PulteGroup, Inc is a homebuilder in the United States. The Company’s segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land.

Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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