Corient Private Wealth LLC Has $12.43 Million Position in PulteGroup, Inc. (NYSE:PHM)

Corient Private Wealth LLC reduced its stake in PulteGroup, Inc. (NYSE:PHM) by 19.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 114,124 shares of the construction company’s stock after selling 27,443 shares during the period. Corient Private Wealth LLC’s holdings in PulteGroup were worth $12,428,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Logan Capital Management Inc. boosted its position in shares of PulteGroup by 67.7% in the third quarter. Logan Capital Management Inc. now owns 14,797 shares of the construction company’s stock valued at $2,124,000 after acquiring an additional 5,976 shares during the period. Sanctuary Advisors LLC boosted its position in shares of PulteGroup by 38.1% in the third quarter. Sanctuary Advisors LLC now owns 121,299 shares of the construction company’s stock valued at $17,410,000 after acquiring an additional 33,472 shares during the period. Trustmark National Bank Trust Department boosted its position in shares of PulteGroup by 39.8% in the third quarter. Trustmark National Bank Trust Department now owns 39,589 shares of the construction company’s stock valued at $5,682,000 after acquiring an additional 11,269 shares during the period. Systematic Financial Management LP boosted its position in shares of PulteGroup by 3.9% in the third quarter. Systematic Financial Management LP now owns 130,257 shares of the construction company’s stock valued at $18,696,000 after acquiring an additional 4,840 shares during the period. Finally, Nilsine Partners LLC boosted its position in shares of PulteGroup by 929.2% in the fourth quarter. Nilsine Partners LLC now owns 20,574 shares of the construction company’s stock valued at $2,240,000 after acquiring an additional 18,575 shares during the period. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PHM. Wells Fargo & Company reduced their target price on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Bank of America reduced their target price on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating for the company in a research report on Monday, January 27th. Oppenheimer reduced their target price on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a research report on Friday, January 31st. StockNews.com cut shares of PulteGroup from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Finally, UBS Group upped their price objective on shares of PulteGroup from $148.00 to $151.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $140.86.

PulteGroup Stock Up 1.7 %

Shares of NYSE PHM opened at $105.29 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13. The company has a market cap of $21.32 billion, a price-to-earnings ratio of 7.16, a PEG ratio of 0.29 and a beta of 1.71. PulteGroup, Inc. has a 12 month low of $100.54 and a 12 month high of $149.47. The stock has a 50-day moving average price of $108.73 and a two-hundred day moving average price of $122.57.

PulteGroup (NYSE:PHM) last issued its earnings results on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, topping the consensus estimate of $3.28 by $0.22. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. As a group, analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The firm 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 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Tuesday, March 18th. PulteGroup’s payout ratio is 5.98%.

PulteGroup announced that its board has authorized a share repurchase plan on Thursday, January 30th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the construction company to reacquire up to 6.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Brian P. Anderson sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $106.45, for a total value of $266,125.00. Following the completion of the transaction, the director now owns 56,617 shares of the company’s stock, valued at $6,026,879.65. This represents a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Brien P. O’meara sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $106.40, for a total value of $372,400.00. Following the completion of the transaction, the vice president now directly owns 11,372 shares of the company’s stock, valued at $1,209,980.80. This represents a 23.53 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,191 shares of company stock valued at $2,256,367. 0.83% of the stock is currently owned by corporate 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.