Northwestern Mutual Wealth Management Co. Acquires 1,946 Shares of PulteGroup, Inc. (PHM)
Northwestern Mutual Wealth Management Co. raised its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 28.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,808 shares of the construction company’s stock after purchasing an additional 1,946 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in PulteGroup were worth $294,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its holdings in PulteGroup by 3.8% during 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 last quarter. Invictus RG increased its position in shares of PulteGroup by 1,473.4% during the third quarter. Invictus RG now owns 4,264 shares of the construction company’s stock valued at $117,000 after buying an additional 3,993 shares during the period. National Pension Service bought a new stake in shares of PulteGroup during the fourth quarter valued at about $138,000. Fieldpoint Private Securities LLC bought a new stake in shares of PulteGroup during the third quarter valued at about $150,000. Finally, Koch Industries Inc. bought a new stake in shares of PulteGroup during the second quarter valued at about $220,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.
In other PulteGroup news, CFO Robert Oshaughnessy sold 92,800 shares of the stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $33.89, for a total transaction of $3,144,992.00. Following the transaction, the chief financial officer now directly owns 363,722 shares in the company, valued at $12,326,538.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James R. Ellinghausen sold 67,490 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $32.35, for a total transaction of $2,183,301.50. The disclosure for this sale can be found here. 0.71% of the stock is currently owned by corporate insiders.
PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Tuesday, January 30th. The construction company reported $0.85 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.85. The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.82 billion. PulteGroup had a net margin of 5.22% and a return on equity of 15.52%. PulteGroup’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.67 earnings per share. analysts anticipate that PulteGroup, Inc. will post 3.06 EPS for the current year.
PulteGroup declared that its Board of Directors has approved a share repurchase plan on Tuesday, January 30th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the construction company to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
PHM has been the topic of several analyst reports. UBS Group initiated coverage on PulteGroup in a research report on Wednesday, October 25th. They set a “buy” rating and a $38.00 price target on the stock. Zacks Investment Research upgraded PulteGroup from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research report on Friday, October 27th. Mizuho upgraded PulteGroup from a “neutral” rating to a “buy” rating in a research report on Thursday, January 18th. Citigroup cut PulteGroup from a “neutral” rating to a “sell” rating and set a $26.00 price target on the stock. in a research report on Friday, October 20th. Finally, Buckingham Research cut PulteGroup from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a research report on Tuesday, November 14th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $32.38.
PulteGroup Company 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.
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