3,190 Shares in PulteGroup, Inc. (NYSE:PHM) Bought by W.H. Cornerstone Investments Inc.

W.H. Cornerstone Investments Inc. acquired a new stake in shares of PulteGroup, Inc. (NYSE:PHM) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,190 shares of the construction company’s stock, valued at approximately $329,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James & Associates boosted its position in shares of PulteGroup by 17.0% during the third quarter. Raymond James & Associates now owns 288,294 shares of the construction company’s stock valued at $21,348,000 after buying an additional 41,868 shares during the period. Bank of New York Mellon Corp increased its stake in PulteGroup by 1.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,995,056 shares of the construction company’s stock worth $147,734,000 after buying an additional 32,817 shares during the period. Forsta AP Fonden lifted its holdings in PulteGroup by 4.7% during the 3rd quarter. Forsta AP Fonden now owns 42,300 shares of the construction company’s stock valued at $3,132,000 after buying an additional 1,900 shares in the last quarter. Concord Wealth Partners increased its position in shares of PulteGroup by 43.9% during the third quarter. Concord Wealth Partners now owns 8,806 shares of the construction company’s stock worth $652,000 after acquiring an additional 2,688 shares during the period. Finally, Everhart Financial Group Inc. increased its position in shares of PulteGroup by 12.3% during the third quarter. Everhart Financial Group Inc. now owns 3,098 shares of the construction company’s stock worth $229,000 after acquiring an additional 340 shares during the period. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Trading Up 2.5 %

PHM stock traded up $2.79 during midday trading on Friday, hitting $116.64. 1,874,965 shares of the company’s stock were exchanged, compared to its average volume of 1,797,015. The stock has a market capitalization of $24.53 billion, a PE ratio of 9.34, a P/E/G ratio of 0.52 and a beta of 1.56. PulteGroup, Inc. has a 1-year low of $65.16 and a 1-year high of $121.07. The business has a 50-day simple moving average of $112.28 and a two-hundred day simple moving average of $101.21. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18.

PulteGroup declared that its board has initiated a stock buyback program on Tuesday, January 30th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the construction company to reacquire up to 6.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other PulteGroup news, VP Brien P. O’meara sold 2,000 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $103.09, for a total value of $206,180.00. Following the sale, the vice president now directly owns 15,389 shares in the company, valued at $1,586,452.01. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.83% of the company’s stock.

Wall Street Analyst Weigh In

PHM has been the subject of a number of research analyst reports. Citigroup lifted their target price on PulteGroup from $116.00 to $127.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Raymond James reaffirmed an “outperform” rating and issued a $135.00 price target (up previously from $120.00) on shares of PulteGroup in a research report on Thursday, April 25th. Barclays increased their price objective on shares of PulteGroup from $126.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Royal Bank of Canada upped their target price on PulteGroup from $106.00 to $113.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 24th. Finally, The Goldman Sachs Group lifted their price target on PulteGroup from $91.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday, January 11th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $111.73.

PulteGroup 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.