Checchi Capital Advisers LLC Decreases Position in PulteGroup, Inc. (NYSE:PHM)

Checchi Capital Advisers LLC lessened its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 3.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,117 shares of the construction company’s stock after selling 320 shares during the period. Checchi Capital Advisers LLC’s holdings in PulteGroup were worth $1,102,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PHM. Logan Capital Management Inc. raised its stake in PulteGroup by 67.7% in the 3rd quarter. Logan Capital Management Inc. now owns 14,797 shares of the construction company’s stock worth $2,124,000 after acquiring an additional 5,976 shares during the last quarter. Sanctuary Advisors LLC raised its stake in PulteGroup by 38.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 121,299 shares of the construction company’s stock worth $17,410,000 after acquiring an additional 33,472 shares during the last quarter. Trustmark National Bank Trust Department raised its stake in PulteGroup by 39.8% in the 3rd quarter. Trustmark National Bank Trust Department now owns 39,589 shares of the construction company’s stock worth $5,682,000 after acquiring an additional 11,269 shares during the last quarter. Systematic Financial Management LP raised its stake in PulteGroup by 3.9% in the 3rd quarter. Systematic Financial Management LP now owns 130,257 shares of the construction company’s stock worth $18,696,000 after acquiring an additional 4,840 shares during the last quarter. Finally, Nilsine Partners LLC raised its stake in PulteGroup by 929.2% in the 4th quarter. Nilsine Partners LLC now owns 20,574 shares of the construction company’s stock worth $2,240,000 after acquiring an additional 18,575 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Price Performance

NYSE:PHM opened at $104.41 on Thursday. PulteGroup, Inc. has a 52 week low of $100.54 and a 52 week 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. The stock has a market capitalization of $21.14 billion, a PE ratio of 7.10, a price-to-earnings-growth ratio of 0.29 and a beta of 1.68. The stock’s 50-day moving average price is $110.23 and its 200-day moving average price is $124.99.

PulteGroup (NYSE:PHM) last posted its earnings results on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, beating analysts’ consensus estimates of $3.28 by $0.22. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. As a group, equities analysts expect that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup announced that its board has initiated a stock buyback program on Thursday, January 30th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the construction company to repurchase up to 6.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

PulteGroup Dividend Announcement

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

Insider Activity

In related news, VP Brien P. O’meara sold 3,500 shares of PulteGroup stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $106.40, for a total value of $372,400.00. Following the sale, 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 SEC, which is accessible through this hyperlink. Also, EVP Todd N. Sheldon sold 15,191 shares of PulteGroup stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $106.50, for a total value of $1,617,841.50. Following the completion of the sale, the executive vice president now owns 74,758 shares in the company, valued at approximately $7,961,727. The trade was a 16.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,191 shares of company stock worth $2,256,367 in the last ninety days. Company insiders own 0.75% of the company’s stock.

Wall Street Analyst Weigh In

PHM has been the subject of a number of research analyst reports. The Goldman Sachs Group reduced their target price on PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Seaport Res Ptn lowered PulteGroup from a “hold” rating to a “strong sell” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. reduced their target price on PulteGroup from $162.00 to $155.00 and set an “overweight” rating for the company in a research note on Friday, December 13th. UBS Group increased their price target on PulteGroup from $148.00 to $151.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Finally, StockNews.com downgraded PulteGroup from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $140.86.

PulteGroup Company 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.