United Community Bank Increases Holdings in PulteGroup, Inc. (NYSE:PHM)

United Community Bank increased its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 2.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,749 shares of the construction company’s stock after purchasing an additional 160 shares during the period. United Community Bank’s holdings in PulteGroup were worth $626,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in PHM. FMR LLC boosted its position in PulteGroup by 102.3% during the 3rd quarter. FMR LLC now owns 9,040,828 shares of the construction company’s stock worth $1,297,630,000 after purchasing an additional 4,571,757 shares during the period. Amundi boosted its position in PulteGroup by 77.9% in the 4th 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. boosted its position in PulteGroup by 5.5% in the 3rd quarter. Franklin Resources Inc. now owns 11,254,274 shares of the construction company’s stock valued at $1,647,364,000 after buying an additional 585,735 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in PulteGroup in the 3rd quarter valued at about $66,485,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in PulteGroup by 357.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 521,958 shares of the construction company’s stock valued at $74,917,000 after buying an additional 407,764 shares during the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at PulteGroup

In other PulteGroup news, Director Brian P. Anderson sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $106.45, for a total value of $266,125.00. Following the sale, the director now owns 56,617 shares in the company, valued at approximately $6,026,879.65. This trade represents a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brien P. O’meara sold 3,500 shares of the firm’s 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 completion of the sale, the vice president now owns 11,372 shares in the company, valued at $1,209,980.80. The trade was a 23.53 % decrease in their position. 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. 0.75% of the stock is owned by company insiders.

PulteGroup Price Performance

Shares of NYSE:PHM opened at $108.06 on Friday. The firm’s 50 day moving average is $109.48 and its two-hundred day moving average is $124.09. PulteGroup, Inc. has a 52 week low of $100.54 and a 52 week high of $149.47. The firm has a market capitalization of $21.88 billion, a P/E ratio of 7.35, a PEG ratio of 0.29 and a beta of 1.71. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, beating 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%. Analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup declared that its board has approved a share buyback plan on Thursday, January 30th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to buy up to 6.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

PulteGroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.88 annualized dividend and a dividend yield of 0.81%. PulteGroup’s payout ratio is currently 5.98%.

Wall Street Analysts Forecast Growth

PHM has been the subject of a number of analyst reports. Wedbush reissued an “outperform” rating and issued a $135.00 price objective on shares of PulteGroup in a research report on Friday, January 31st. Oppenheimer reduced their price target 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. Citigroup reduced their price target on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Wells Fargo & Company reduced their price target on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Finally, Seaport Res Ptn raised shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Thursday. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, PulteGroup has an average rating of “Moderate Buy” and an average 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.