PulteGroup, Inc. (NYSE:PHM) Stock Holdings Lessened by Advisory Services Network LLC

Advisory Services Network LLC cut its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 20.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,180 shares of the construction company’s stock after selling 3,062 shares during the period. Advisory Services Network LLC’s holdings in PulteGroup were worth $1,326,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Hager Investment Management Services LLC purchased a new position in shares of PulteGroup during the 4th quarter valued at $29,000. Fortitude Family Office LLC grew its stake in PulteGroup by 74.1% in the fourth quarter. Fortitude Family Office LLC now owns 322 shares of the construction company’s stock valued at $35,000 after purchasing an additional 137 shares in the last quarter. R Squared Ltd purchased a new position in PulteGroup in the fourth quarter valued at about $39,000. Thurston Springer Miller Herd & Titak Inc. increased its position in PulteGroup by 41.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 444 shares of the construction company’s stock worth $48,000 after purchasing an additional 131 shares during the last quarter. Finally, Oakworth Capital Inc. raised its stake in shares of PulteGroup by 642.2% during the 4th quarter. Oakworth Capital Inc. now owns 475 shares of the construction company’s stock worth $52,000 after purchasing an additional 411 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

Wall Street Analysts Forecast Growth

PHM has been the subject of several recent research reports. Wedbush reissued an “outperform” rating and issued a $135.00 price target on shares of PulteGroup in a research note on Friday, January 31st. Citigroup reduced their price objective on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Oppenheimer cut their target price on PulteGroup from $165.00 to $150.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. Bank of America cut their price objective on PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. Finally, The Goldman Sachs Group decreased their target price on PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $139.64.

PulteGroup Trading Up 0.8 %

Shares of PHM opened at $94.38 on Friday. The stock’s 50-day moving average price is $103.40 and its 200 day moving average price is $117.89. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-month high of $149.47. The firm has a market capitalization of $19.11 billion, a price-to-earnings ratio of 6.42, a P/E/G ratio of 0.29 and a beta of 1.44.

PulteGroup (NYSE:PHM) last issued its earnings results on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, beating analysts’ consensus estimates 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, research analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.88 annualized dividend and a dividend yield of 0.93%. PulteGroup’s dividend payout ratio (DPR) is currently 5.98%.

PulteGroup announced that its Board of Directors has authorized a stock buyback 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 purchase up to 6.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Activity at PulteGroup

In related news, EVP Todd N. Sheldon sold 15,191 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $106.50, for a total value of $1,617,841.50. Following the sale, the executive vice president now owns 74,758 shares of the company’s stock, valued at $7,961,727. The trade was a 16.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Brien P. O’meara sold 3,500 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $106.40, for a total value of $372,400.00. Following the transaction, the vice president now owns 11,372 shares of the company’s stock, valued at $1,209,980.80. This represents a 23.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,191 shares of company stock valued at $2,256,367 over the last quarter. 0.76% of the stock is owned by company insiders.

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.