Cibc World Markets Corp Has $3.54 Million Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Cibc World Markets Corp increased its position in PulteGroup, Inc. (NYSE:PHM) by 14.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,496 shares of the construction company’s stock after buying an additional 4,193 shares during the period. Cibc World Markets Corp’s holdings in PulteGroup were worth $3,539,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Hager Investment Management Services LLC acquired a new position in PulteGroup during the 4th quarter valued at about $29,000. Fortitude Family Office LLC boosted its stake in PulteGroup by 74.1% during the 4th quarter. Fortitude Family Office LLC now owns 322 shares of the construction company’s stock valued at $35,000 after purchasing an additional 137 shares during the last quarter. R Squared Ltd acquired a new position in PulteGroup during the 4th quarter valued at about $39,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in PulteGroup by 41.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 444 shares of the construction company’s stock valued at $48,000 after purchasing an additional 131 shares during the last quarter. Finally, Oakworth Capital Inc. boosted its stake in PulteGroup by 642.2% during the 4th quarter. Oakworth Capital Inc. now owns 475 shares of the construction company’s stock valued at $52,000 after purchasing an additional 411 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PHM has been the subject of a number of analyst reports. Oppenheimer cut 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. StockNews.com downgraded PulteGroup from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Bank of America dropped their target price on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. Citigroup dropped their target price on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Finally, Barclays dropped their target price on shares of PulteGroup from $125.00 to $117.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $140.86.

PulteGroup Trading Up 0.2 %

NYSE:PHM opened at $105.33 on Friday. 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 stock has a market capitalization of $21.32 billion, a PE ratio of 7.16, a price-to-earnings-growth ratio of 0.29 and a beta of 1.71. The firm’s 50 day moving average is $108.63 and its 200 day moving average is $122.45. PulteGroup, Inc. has a 12 month low of $100.33 and a 12 month high of $149.47.

PulteGroup (NYSE:PHM) last posted 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 net margin of 17.18% and a return on equity of 24.43%. Sell-side analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be paid a $0.22 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a yield of 0.84%. PulteGroup’s dividend payout ratio is 5.98%.

PulteGroup declared that its board has authorized a share repurchase plan on Thursday, January 30th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to purchase up to 6.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Insider Activity at PulteGroup

In related news, VP Brien P. O’meara sold 3,500 shares of PulteGroup stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $106.40, for a total value of $372,400.00. Following the completion of the transaction, the vice president now directly owns 11,372 shares in the company, valued at approximately $1,209,980.80. The trade was a 23.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Todd N. Sheldon sold 15,191 shares of PulteGroup stock in a transaction that occurred on 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 of the company’s stock, valued at $7,961,727. This represents a 16.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,191 shares of company stock worth $2,256,367. Corporate insiders own 0.83% of the company’s stock.

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.