Aspen Investment Management Inc Increases Position in PulteGroup, Inc. (NYSE:PHM)

Aspen Investment Management Inc grew its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 29.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,140 shares of the construction company’s stock after buying an additional 705 shares during the quarter. Aspen Investment Management Inc’s holdings in PulteGroup were worth $342,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fortitude Family Office LLC grew its position in PulteGroup by 115.1% in the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock valued at $27,000 after acquiring an additional 99 shares during the last quarter. Transcendent Capital Group LLC bought a new stake in shares of PulteGroup during the third quarter worth $29,000. Hager Investment Management Services LLC purchased a new stake in shares of PulteGroup during the fourth quarter valued at $29,000. R Squared Ltd bought a new position in shares of PulteGroup in the fourth quarter worth about $39,000. Finally, JNBA Financial Advisors purchased a new position in PulteGroup in the 3rd quarter worth about $43,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at PulteGroup

In other PulteGroup news, EVP Todd N. Sheldon sold 15,191 shares of the company’s 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 transaction, the executive vice president now owns 74,758 shares in the company, valued at approximately $7,961,727. This represents a 16.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Brian P. Anderson sold 2,500 shares of PulteGroup stock in a transaction 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 sale, the director now owns 56,617 shares of the company’s stock, valued at $6,026,879.65. The trade was a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,191 shares of company stock worth $2,256,367. Insiders own 0.83% of the company’s stock.

PulteGroup Stock Up 0.9 %

Shares of PulteGroup stock opened at $105.80 on Friday. PulteGroup, Inc. has a 52-week low of $101.13 and a 52-week high of $149.47. The firm’s 50 day moving average price is $111.47 and its 200-day moving average price is $125.63. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. The company has a market cap of $21.42 billion, a P/E ratio of 7.19, a PEG ratio of 0.28 and a beta of 1.68.

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

PulteGroup declared that its Board of Directors has initiated a share 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 reacquire up to 6.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

PulteGroup Announces Dividend

The firm 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 annualized dividend and a yield of 0.83%. The ex-dividend date is Tuesday, March 18th. PulteGroup’s dividend payout ratio is presently 5.98%.

Analyst Upgrades and Downgrades

PHM has been the subject of several research reports. Citigroup lowered their price objective on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. The Goldman Sachs Group lowered their price target on PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Bank of America reduced their price objective on PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a report on Monday, January 27th. Wells Fargo & Company lowered their target price on PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Finally, Oppenheimer decreased their price objective on PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, PulteGroup has an average rating of “Moderate Buy” and an average target price of $140.86.

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.