Sagespring Wealth Partners LLC Takes $224,000 Position in PulteGroup, Inc. (NYSE:PHM)

Sagespring Wealth Partners LLC purchased a new position in shares of PulteGroup, Inc. (NYSE:PHM) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 2,060 shares of the construction company’s stock, valued at approximately $224,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hager Investment Management Services LLC purchased a new stake in PulteGroup during the 4th quarter worth approximately $29,000. Fortitude Family Office LLC increased its position in shares of PulteGroup by 74.1% during the fourth quarter. Fortitude Family Office LLC now owns 322 shares of the construction company’s stock worth $35,000 after purchasing an additional 137 shares in the last quarter. R Squared Ltd acquired a new position in PulteGroup in the 4th quarter valued at $39,000. Thurston Springer Miller Herd & Titak Inc. raised its stake 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 valued at $48,000 after purchasing an additional 131 shares during the last quarter. Finally, Oakworth Capital Inc. lifted its holdings in PulteGroup by 642.2% in the 4th quarter. Oakworth Capital Inc. now owns 475 shares of the construction company’s stock valued at $52,000 after purchasing an additional 411 shares in the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at PulteGroup

In other PulteGroup news, VP Brien P. O’meara sold 3,500 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $106.40, for a total transaction of $372,400.00. Following the sale, the vice president now directly owns 11,372 shares in the company, valued at $1,209,980.80. This represents a 23.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $1,617,841.50. Following the completion of the transaction, the executive vice president now owns 74,758 shares of the company’s stock, valued at approximately $7,961,727. This trade represents a 16.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,191 shares of company stock worth $2,256,367 in the last three months. 0.76% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PHM has been the subject of a number of recent research reports. Seaport Res Ptn upgraded shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 6th. Oppenheimer decreased their target price on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. Citigroup dropped their price target on PulteGroup from $146.00 to $119.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Barclays reduced their price objective on PulteGroup from $117.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. Finally, The Goldman Sachs Group dropped their target price on PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, PulteGroup presently has an average rating of “Moderate Buy” and an average target price of $138.21.

PulteGroup Trading Down 2.0 %

Shares of PHM stock opened at $92.94 on Thursday. The company has a 50-day moving average of $102.51 and a two-hundred day moving average of $117.08. The firm has a market cap of $18.82 billion, a PE ratio of 6.32, a price-to-earnings-growth ratio of 0.29 and a beta of 1.44. PulteGroup, Inc. has a 1-year low of $88.07 and a 1-year high of $149.47. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86.

PulteGroup (NYSE:PHM) last announced its 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 return on equity of 24.43% and a net margin of 17.18%. On average, analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup declared that its Board of Directors has initiated a stock repurchase plan on Thursday, January 30th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the construction company to buy up to 6.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

PulteGroup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.95%. The ex-dividend date was Tuesday, March 18th. PulteGroup’s payout ratio is 5.98%.

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.