Commerce Bank Has $2.71 Million Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Commerce Bank lowered its position in shares of PulteGroup, Inc. (NYSE:PHM) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,881 shares of the construction company’s stock after selling 806 shares during the quarter. Commerce Bank’s holdings in PulteGroup were worth $2,710,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Jump Financial LLC increased its position in shares of PulteGroup by 210.5% in the 4th quarter. Jump Financial LLC now owns 16,799 shares of the construction company’s stock valued at $1,829,000 after buying an additional 11,388 shares in the last quarter. Bridgewater Associates LP lifted its holdings in shares of PulteGroup by 118.8% during the 4th quarter. Bridgewater Associates LP now owns 783,581 shares of the construction company’s stock valued at $85,332,000 after purchasing an additional 425,492 shares in the last quarter. Kane Investment Management Inc. acquired a new position in shares of PulteGroup in the 4th quarter valued at approximately $847,000. Aware Super Pty Ltd as trustee of Aware Super bought a new stake in PulteGroup during the 4th quarter worth approximately $31,025,000. Finally, Canada Post Corp Registered Pension Plan acquired a new stake in PulteGroup during the 4th quarter worth approximately $409,000. Institutional investors own 89.90% of the company’s stock.

Insiders Place Their Bets

In other news, Director Brian P. Anderson sold 2,500 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $106.45, for a total value of $266,125.00. Following the completion of the sale, the director now owns 56,617 shares of the company’s stock, valued at approximately $6,026,879.65. The trade was a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Todd N. Sheldon sold 15,191 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were 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 in the company, valued at $7,961,727. This trade represents a 16.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,191 shares of company stock worth $2,256,367 over the last three months. Insiders own 0.76% of the company’s stock.

PulteGroup Trading Up 2.2 %

PulteGroup stock opened at $94.87 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a 50-day simple moving average of $102.04 and a 200 day simple moving average of $116.03. The stock has a market capitalization of $19.21 billion, a P/E ratio of 6.45, a PEG ratio of 0.29 and a beta of 1.44. PulteGroup, Inc. has a 52 week low of $88.07 and a 52 week high of $149.47.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share 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%. Analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup declared that its board has approved a share buyback 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 shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

PulteGroup Announces Dividend

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 dividend on an annualized basis and a yield of 0.93%. PulteGroup’s dividend payout ratio (DPR) is currently 5.98%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group reduced their price target on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. UBS Group increased their target price on PulteGroup from $148.00 to $151.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Oppenheimer cut their price target on PulteGroup from $165.00 to $150.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. Seaport Res Ptn upgraded PulteGroup from a “strong sell” rating to a “hold” rating in a report on Thursday, March 6th. Finally, Citigroup cut their target price on PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, PulteGroup has a consensus rating of “Moderate Buy” and an average target price of $138.21.

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.