Westover Capital Advisors LLC Sells 2,521 Shares of PulteGroup, Inc. (NYSE:PHM)

Westover Capital Advisors LLC reduced its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 19.9% during the fourth quarter, Holdings Channel reports. The fund owned 10,151 shares of the construction company’s stock after selling 2,521 shares during the period. Westover Capital Advisors LLC’s holdings in PulteGroup were worth $1,105,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. US Bancorp DE grew its holdings in shares of PulteGroup by 2.9% in the third quarter. US Bancorp DE now owns 14,746 shares of the construction company’s stock worth $2,117,000 after purchasing an additional 410 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of PulteGroup by 60.2% in the third quarter. Farther Finance Advisors LLC now owns 3,975 shares of the construction company’s stock worth $571,000 after purchasing an additional 1,493 shares during the last quarter. Princeton Global Asset Management LLC bought a new position in shares of PulteGroup in the third quarter worth approximately $69,000. Clear Creek Financial Management LLC purchased a new stake in PulteGroup in the third quarter worth $209,000. Finally, Janney Montgomery Scott LLC lifted its stake in PulteGroup by 0.8% in the third quarter. Janney Montgomery Scott LLC now owns 302,898 shares of the construction company’s stock worth $43,475,000 after acquiring an additional 2,384 shares during the period. 89.90% of the stock is currently owned by institutional investors.

Insider Transactions at PulteGroup

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

Wall Street Analyst Weigh In

A number of analysts recently commented on PHM shares. Wells Fargo & Company dropped their price target on PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. UBS Group raised their price target on PulteGroup from $148.00 to $151.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Citigroup dropped their price target on PulteGroup from $146.00 to $119.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. The Goldman Sachs Group dropped their price target on PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Finally, Seaport Res Ptn lowered PulteGroup from a “hold” rating to a “strong sell” rating in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, PulteGroup currently has an average rating of “Moderate Buy” and a consensus target price of $140.86.

PulteGroup Price Performance

PHM opened at $102.06 on Tuesday. The stock has a 50-day moving average price of $109.81 and a 200-day moving average price of $124.59. 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 firm has a market cap of $20.66 billion, a PE ratio of 6.94, a P/E/G ratio of 0.29 and a beta of 1.68. PulteGroup, Inc. has a 1 year low of $100.54 and a 1 year high of $149.47.

PulteGroup (NYSE:PHM) last posted 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 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 fiscal year.

PulteGroup announced that its board has approved a stock repurchase program 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 programs are often a sign that the company’s board believes its shares are undervalued.

PulteGroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Tuesday, March 18th. PulteGroup’s dividend payout ratio is presently 5.98%.

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.