Moran Wealth Management LLC Trims Stake in PulteGroup, Inc. (NYSE:PHM)

Moran Wealth Management LLC trimmed its holdings in PulteGroup, Inc. (NYSE:PHM) by 2.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 248,180 shares of the construction company’s stock after selling 6,906 shares during the quarter. PulteGroup comprises about 0.9% of Moran Wealth Management LLC’s investment portfolio, making the stock its 21st biggest holding. Moran Wealth Management LLC owned about 0.12% of PulteGroup worth $27,027,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in PHM. Ruffer LLP bought a new position in shares of PulteGroup during the fourth quarter valued at $3,173,000. AlphaQuest LLC increased its stake in PulteGroup by 71.7% during the 4th quarter. AlphaQuest LLC now owns 16,748 shares of the construction company’s stock valued at $1,824,000 after purchasing an additional 6,992 shares in the last quarter. United Community Bank increased its stake in PulteGroup by 2.9% during the 4th quarter. United Community Bank now owns 5,749 shares of the construction company’s stock valued at $626,000 after purchasing an additional 160 shares in the last quarter. Amundi raised its holdings in PulteGroup by 77.9% in the fourth quarter. Amundi now owns 1,636,562 shares of the construction company’s stock worth $180,775,000 after buying an additional 716,716 shares during the last quarter. Finally, Naviter Wealth LLC bought a new position in shares of PulteGroup in the fourth quarter worth approximately $483,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on PHM shares. Bank of America decreased their price objective on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating for the company in a report on Monday, January 27th. Wells Fargo & Company lowered their price target on PulteGroup from $165.00 to $140.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. The Goldman Sachs Group cut their price objective on PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Wedbush reissued an “outperform” rating and issued a $135.00 target price on shares of PulteGroup in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. reduced their price target on shares of PulteGroup from $162.00 to $155.00 and set an “overweight” rating for the company in a research report on Friday, December 13th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.86.

PulteGroup Trading Down 0.2 %

Shares of NYSE PHM opened at $108.06 on Monday. The stock has a market capitalization of $21.88 billion, a P/E ratio of 7.35, a PEG ratio of 0.29 and a beta of 1.71. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. The business’s 50 day moving average is $109.48 and its two-hundred day moving average is $124.06. PulteGroup, Inc. has a 1-year low of $100.54 and a 1-year high of $149.47.

PulteGroup (NYSE:PHM) last released its 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 net margin of 17.18% and a return on equity of 24.43%. As a group, research analysts expect that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Tuesday, March 18th. PulteGroup’s dividend payout ratio (DPR) is presently 5.98%.

PulteGroup announced that its Board of Directors has authorized 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 purchase up to 6.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, EVP Todd N. Sheldon sold 15,191 shares of the firm’s 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Brien P. O’meara sold 3,500 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $106.40, for a total transaction of $372,400.00. Following the completion of the sale, the vice president now directly owns 11,372 shares of the company’s stock, valued at approximately $1,209,980.80. This trade represents a 23.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,191 shares of company stock worth $2,256,367 over the last quarter. Company insiders own 0.83% 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.