First Trust Advisors LP Has $116 Million Stock Position in PulteGroup, Inc. (NYSE:PHM)

First Trust Advisors LP lifted its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 45.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,065,190 shares of the construction company’s stock after buying an additional 333,361 shares during the period. First Trust Advisors LP owned about 0.52% of PulteGroup worth $115,999,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Freedom Investment Management Inc. raised its position in PulteGroup by 10.0% in the fourth quarter. Freedom Investment Management Inc. now owns 16,134 shares of the construction company’s stock valued at $1,757,000 after purchasing an additional 1,463 shares during the last quarter. Jump Financial LLC increased its stake in shares of PulteGroup by 210.5% in the fourth 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 during the period. Bridgewater Associates LP raised its holdings in PulteGroup by 118.8% in the 4th quarter. Bridgewater Associates LP now owns 783,581 shares of the construction company’s stock valued at $85,332,000 after buying an additional 425,492 shares during the last quarter. Kane Investment Management Inc. acquired a new stake in PulteGroup during the 4th quarter worth approximately $847,000. Finally, Aware Super Pty Ltd as trustee of Aware Super bought a new stake in PulteGroup during the 4th quarter worth approximately $31,025,000. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Price Performance

Shares of NYSE PHM opened at $94.87 on Monday. 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 firm’s 50-day moving average price is $102.04 and its 200-day moving average price is $116.03. The firm has a market capitalization of $19.21 billion, a P/E ratio of 6.45, a P/E/G 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.

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

PulteGroup announced that its board has initiated a stock buyback program on Thursday, January 30th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the construction company to buy up to 6.2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

PulteGroup Dividend Announcement

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

Insider Buying and Selling at PulteGroup

In related news, Director Brian P. Anderson sold 2,500 shares of the company’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 sale, the director now owns 56,617 shares in the company, valued at $6,026,879.65. This represents a 4.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Todd N. Sheldon sold 15,191 shares of PulteGroup stock in a transaction dated 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. This trade represents a 16.89 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,191 shares of company stock worth $2,256,367. 0.76% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

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.