PulteGroup, Inc. (NYSE:PHM) Stake Trimmed by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lowered its stake in PulteGroup, Inc. (NYSE:PHM) by 3.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 107,907 shares of the construction company’s stock after selling 3,376 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.05% of PulteGroup worth $11,751,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of PHM. Cromwell Holdings LLC grew its stake in PulteGroup by 17.2% during the 3rd quarter. Cromwell Holdings LLC now owns 565 shares of the construction company’s stock valued at $81,000 after acquiring an additional 83 shares in the last quarter. Concord Wealth Partners grew its stake in PulteGroup by 1.7% during the 3rd quarter. Concord Wealth Partners now owns 5,002 shares of the construction company’s stock valued at $718,000 after acquiring an additional 83 shares in the last quarter. Ashton Thomas Private Wealth LLC grew its stake in PulteGroup by 3.0% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 3,054 shares of the construction company’s stock valued at $438,000 after acquiring an additional 88 shares in the last quarter. Richardson Financial Services Inc. grew its stake in PulteGroup by 16.7% during the 4th quarter. Richardson Financial Services Inc. now owns 622 shares of the construction company’s stock valued at $68,000 after acquiring an additional 89 shares in the last quarter. Finally, Premier Path Wealth Partners LLC grew its stake in PulteGroup by 3.8% during the 4th quarter. Premier Path Wealth Partners LLC now owns 2,572 shares of the construction company’s stock valued at $280,000 after acquiring an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Insider Transactions at PulteGroup

In other news, EVP Todd N. Sheldon sold 15,191 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 74,758 shares in the company, valued at approximately $7,961,727. The trade was a 16.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Brian P. Anderson sold 2,500 shares of the business’s stock in a transaction that occurred on 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 approximately $6,026,879.65. This represents a 4.23 % 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 worth $2,256,367 over the last three months. 0.83% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on PHM shares. Wedbush reaffirmed an “outperform” rating and set a $135.00 target price on shares of PulteGroup in a research note on Friday, January 31st. Evercore ISI reduced their price target on PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. JPMorgan Chase & Co. reduced their price target on PulteGroup from $162.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, December 13th. Barclays reduced their price target on PulteGroup from $125.00 to $117.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Finally, Oppenheimer reduced their price target on PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.86.

PulteGroup Stock Up 0.7 %

Shares of PHM stock opened at $107.45 on Monday. PulteGroup, Inc. has a 12 month low of $100.24 and a 12 month high of $149.47. The firm has a market cap of $22.04 billion, a PE ratio of 7.30, a price-to-earnings-growth ratio of 0.29 and a beta of 1.68. The stock has a 50 day moving average of $112.63 and a 200-day moving average of $126.12. The company has a quick ratio of 0.73, a current ratio of 0.86 and a debt-to-equity ratio of 0.13.

PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, topping 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, equities analysts predict that PulteGroup, Inc. will post 12.43 EPS for the current year.

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

PulteGroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.82%. PulteGroup’s dividend payout ratio (DPR) is presently 5.98%.

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.