Smith Moore & CO. Has $928,000 Holdings in PulteGroup, Inc. (NYSE:PHM)

Smith Moore & CO. lifted its position in shares of PulteGroup, Inc. (NYSE:PHM) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,519 shares of the construction company’s stock after purchasing an additional 158 shares during the quarter. Smith Moore & CO.’s holdings in PulteGroup were worth $928,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Norges Bank acquired a new position in PulteGroup during the 4th quarter valued at about $427,562,000. Amundi boosted its position in shares of PulteGroup by 77.9% during the fourth quarter. Amundi now owns 1,636,562 shares of the construction company’s stock valued at $180,775,000 after buying an additional 716,716 shares during the last quarter. Franklin Resources Inc. grew its holdings in PulteGroup by 6.1% during the fourth quarter. Franklin Resources Inc. now owns 11,937,866 shares of the construction company’s stock worth $1,300,034,000 after buying an additional 683,592 shares in the last quarter. Lord Abbett & CO. LLC raised its position in PulteGroup by 3,118.4% in the 3rd quarter. Lord Abbett & CO. LLC now owns 376,717 shares of the construction company’s stock valued at $54,070,000 after buying an additional 365,012 shares during the last quarter. Finally, World Investment Advisors LLC raised its position in PulteGroup by 2,732.3% in the 3rd quarter. World Investment Advisors LLC now owns 221,172 shares of the construction company’s stock valued at $31,745,000 after buying an additional 213,363 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Stock Performance

NYSE PHM opened at $101.05 on Friday. The company’s 50 day moving average is $106.12 and its 200-day moving average is $120.21. The firm has a market cap of $20.46 billion, a P/E ratio of 6.87, a price-to-earnings-growth ratio of 0.29 and a beta of 1.44. PulteGroup, Inc. has a 12-month low of $95.14 and a 12-month high of $149.47. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13.

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

PulteGroup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date was Tuesday, March 18th. PulteGroup’s payout ratio is presently 5.98%.

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PHM. The Goldman Sachs Group reduced their target price on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Oppenheimer dropped their target price on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday, January 31st. Bank of America decreased their price target on PulteGroup from $135.00 to $134.00 and set a “buy” rating for the company in a research report on Monday, January 27th. JPMorgan Chase & Co. cut their price objective on PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a research report on Friday, December 13th. Finally, Wedbush reaffirmed an “outperform” rating and set a $135.00 target price on shares of PulteGroup in a research report on Friday, January 31st. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PulteGroup has a consensus rating of “Moderate Buy” and an average price target of $140.86.

Insider Activity

In other news, Director Brian P. Anderson sold 2,500 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $106.45, for a total transaction of $266,125.00. Following the completion of 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 transaction 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 stock was sold at an average price of $106.40, for a total value of $372,400.00. Following the completion of the sale, the vice president now owns 11,372 shares in the company, valued at $1,209,980.80. This trade represents a 23.53 % decrease in their position. 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 ninety days. Company insiders own 0.76% 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.