Anchor Investment Management LLC Sells 400 Shares of PulteGroup, Inc. (NYSE:PHM)

Anchor Investment Management LLC reduced its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 6.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,974 shares of the construction company’s stock after selling 400 shares during the period. Anchor Investment Management LLC’s holdings in PulteGroup were worth $651,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in PHM. Morse Asset Management Inc raised its position in PulteGroup by 26.2% in the 3rd quarter. Morse Asset Management Inc now owns 9,735 shares of the construction company’s stock worth $1,397,000 after purchasing an additional 2,020 shares during the period. Wellington Management Group LLP increased its holdings in shares of PulteGroup by 0.7% in the third quarter. Wellington Management Group LLP now owns 35,191 shares of the construction company’s stock worth $5,051,000 after buying an additional 258 shares during the period. Aldebaran Financial Inc. lifted its stake in shares of PulteGroup by 99.1% in the 3rd quarter. Aldebaran Financial Inc. now owns 5,365 shares of the construction company’s stock valued at $770,000 after acquiring an additional 2,670 shares during the last quarter. Pine Valley Investments Ltd Liability Co purchased a new stake in PulteGroup during the 3rd quarter valued at about $234,000. Finally, World Investment Advisors LLC grew its position in PulteGroup by 21.8% during the 3rd quarter. World Investment Advisors LLC now owns 9,515 shares of the construction company’s stock worth $1,366,000 after acquiring an additional 1,706 shares during the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on PHM shares. UBS Group boosted their price objective on PulteGroup from $148.00 to $151.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Citigroup dropped their price target on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. The Goldman Sachs Group decreased their price objective on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Wells Fargo & Company dropped their target price on shares of PulteGroup from $140.00 to $120.00 and set an “overweight” rating for the company in a report on Monday. Finally, Wedbush reissued an “outperform” rating and issued a $135.00 target price on shares of PulteGroup in a research note on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PulteGroup has an average rating of “Moderate Buy” and a consensus price target of $138.21.

PulteGroup Price Performance

PHM opened at $94.81 on Wednesday. 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 $19.20 billion, a price-to-earnings ratio of 6.45, a price-to-earnings-growth ratio of 0.29 and a beta of 1.44. The stock has a fifty day simple moving average of $102.77 and a two-hundred day simple moving average of $117.25. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-month high of $149.47.

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

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th were paid a $0.22 dividend. 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 payout ratio is currently 5.98%.

PulteGroup announced that its board has approved a share buyback plan on Thursday, January 30th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the construction company to reacquire up to 6.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at PulteGroup

In other news, 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 sale, the vice president now directly owns 11,372 shares of the company’s stock, valued at approximately $1,209,980.80. This represents a 23.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Todd N. Sheldon sold 15,191 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $106.50, for a total value of $1,617,841.50. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,191 shares of company stock valued at $2,256,367 in the last 90 days. Corporate insiders own 0.76% of the company’s stock.

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.