PulteGroup, Inc. (NYSE:PHM) Stock Position Raised by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC lifted its position in PulteGroup, Inc. (NYSE:PHM) by 27.6% in the 4th quarter, Holdings Channel reports. The fund owned 1,856 shares of the construction company’s stock after buying an additional 402 shares during the period. Frank Rimerman Advisors LLC’s holdings in PulteGroup were worth $202,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in PHM. Hager Investment Management Services LLC acquired a new position in PulteGroup in the 4th quarter valued at approximately $29,000. Fortitude Family Office LLC increased its stake in PulteGroup by 74.1% in the 4th quarter. Fortitude Family Office LLC now owns 322 shares of the construction company’s stock valued at $35,000 after buying an additional 137 shares during the period. R Squared Ltd acquired a new position in PulteGroup in the 4th quarter valued at approximately $39,000. Thurston Springer Miller Herd & Titak Inc. increased 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 buying an additional 131 shares during the period. Finally, Oakworth Capital Inc. increased its stake 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 buying an additional 411 shares during the period. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on PHM. Citigroup dropped their price objective on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. JPMorgan Chase & Co. dropped their price target on shares of PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a research note on Friday, December 13th. UBS Group increased their price target on shares of PulteGroup from $148.00 to $151.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Bank of America dropped their price target on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. Finally, Oppenheimer dropped their price target 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. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $140.86.

Insider Buying and Selling at PulteGroup

In other PulteGroup news, Director Brian P. Anderson sold 2,500 shares of the stock in a transaction 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 completion of the sale, the director now directly owns 56,617 shares of the company’s stock, valued at $6,026,879.65. This represents a 4.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Brien P. O’meara sold 3,500 shares of the stock in a transaction 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 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 sold a total of 21,191 shares of company stock valued at $2,256,367 in the last ninety days. Company insiders own 0.83% of the company’s stock.

PulteGroup Price Performance

NYSE PHM opened at $103.97 on Tuesday. 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 company has a fifty day simple moving average of $108.92 and a 200 day simple moving average of $122.89. The company has a market cap of $21.05 billion, a P/E ratio of 7.07, a P/E/G ratio of 0.29 and a beta of 1.71. PulteGroup, Inc. has a 1 year low of $100.54 and a 1 year high of $149.47.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data 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%. On average, sell-side analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Tuesday, March 18th. PulteGroup’s dividend payout ratio (DPR) is presently 5.98%.

PulteGroup declared that its board has approved a share repurchase program on Thursday, January 30th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to repurchase up to 6.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

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.