Commonwealth Equity Services LLC Acquires 337 Shares of PulteGroup, Inc. (NYSE:PHM)

Commonwealth Equity Services LLC lifted its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 0.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 61,570 shares of the construction company’s stock after acquiring an additional 337 shares during the period. Commonwealth Equity Services LLC’s holdings in PulteGroup were worth $6,705,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vestcor Inc lifted its holdings in shares of PulteGroup by 5.3% during the 4th quarter. Vestcor Inc now owns 14,474 shares of the construction company’s stock worth $1,576,000 after acquiring an additional 726 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of PulteGroup during the 4th quarter worth about $2,141,000. HighTower Advisors LLC lifted its holdings in shares of PulteGroup by 3.2% during the 4th quarter. HighTower Advisors LLC now owns 20,508 shares of the construction company’s stock worth $2,233,000 after acquiring an additional 645 shares during the period. Inspire Advisors LLC lifted its holdings in PulteGroup by 36.0% during the 4th quarter. Inspire Advisors LLC now owns 9,051 shares of the construction company’s stock valued at $986,000 after purchasing an additional 2,396 shares during the last quarter. Finally, Vista Investment Partners II LLC bought a new position in PulteGroup during the 4th quarter valued at about $958,000. 89.90% of the stock is owned by institutional investors.

PulteGroup Stock Down 2.2 %

Shares of NYSE:PHM opened at $103.04 on Friday. PulteGroup, Inc. has a one year low of $100.35 and a one year high of $149.47. The company has a 50 day moving average of $108.54 and a 200-day moving average of $122.25. 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 stock has a market cap of $20.86 billion, a price-to-earnings ratio of 7.00, a P/E/G ratio of 0.29 and a beta of 1.71.

PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 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 forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup declared that its Board of Directors has authorized a share buyback 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 buy up to 6.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

PulteGroup Dividend Announcement

The company 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 dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.85%. The ex-dividend date is Tuesday, March 18th. PulteGroup’s payout ratio is 5.98%.

Insider Buying and Selling

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 transaction of $372,400.00. Following the transaction, the vice president now owns 11,372 shares of the company’s stock, valued at $1,209,980.80. This trade represents a 23.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian P. Anderson sold 2,500 shares of PulteGroup stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $106.45, for a total transaction of $266,125.00. Following the transaction, the director now directly owns 56,617 shares in the company, valued at $6,026,879.65. The trade was a 4.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,191 shares of company stock valued at $2,256,367 in the last 90 days. 0.83% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PHM shares. Seaport Res Ptn raised shares of PulteGroup from a “strong sell” rating to a “hold” rating in a report on Thursday, March 6th. Wedbush reissued an “outperform” rating and set a $135.00 price target on shares of PulteGroup in a report on Friday, January 31st. The Goldman Sachs Group cut their price target on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Citigroup cut their price target on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Finally, Wells Fargo & Company cut their price target on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.86.

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.