Great Lakes Advisors LLC Decreases Holdings in PulteGroup, Inc. (NYSE:PHM)

Great Lakes Advisors LLC trimmed its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 0.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,722 shares of the construction company’s stock after selling 215 shares during the period. Great Lakes Advisors LLC’s holdings in PulteGroup were worth $4,761,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PHM. HighTower Advisors LLC lifted its stake in PulteGroup by 3.2% in the 4th quarter. HighTower Advisors LLC now owns 20,508 shares of the construction company’s stock valued at $2,233,000 after buying an additional 645 shares in the last quarter. Inspire Advisors LLC raised its holdings in shares of PulteGroup by 36.0% during the fourth quarter. Inspire Advisors LLC now owns 9,051 shares of the construction company’s stock valued at $986,000 after acquiring an additional 2,396 shares during the last quarter. Vista Investment Partners II LLC purchased a new position in shares of PulteGroup in the fourth quarter valued at approximately $958,000. Independent Advisor Alliance boosted its stake in shares of PulteGroup by 21.3% in the fourth quarter. Independent Advisor Alliance now owns 9,868 shares of the construction company’s stock worth $1,075,000 after acquiring an additional 1,735 shares during the last quarter. Finally, Johnson Investment Counsel Inc. increased its position in shares of PulteGroup by 5.6% during the fourth quarter. Johnson Investment Counsel Inc. now owns 6,764 shares of the construction company’s stock worth $737,000 after purchasing an additional 361 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

Insider Activity at PulteGroup

In other news, 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 value of $372,400.00. Following the completion of the transaction, the vice president now owns 11,372 shares of the company’s stock, valued at approximately $1,209,980.80. This trade represents a 23.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Todd N. Sheldon sold 15,191 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $106.50, for a total transaction of $1,617,841.50. Following the sale, the executive vice president now directly 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 sold 21,191 shares of company stock worth $2,256,367 in the last three months. 0.83% of the stock is owned by company insiders.

Analyst Ratings Changes

PHM has been the topic of several recent research reports. Seaport Res Ptn raised shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. decreased their price target on shares of PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a research note on Friday, December 13th. The Goldman Sachs Group dropped their price objective 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. UBS Group raised their target price on shares of PulteGroup from $148.00 to $151.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Finally, StockNews.com lowered PulteGroup from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $140.86.

PulteGroup Trading Down 2.5 %

Shares of PHM stock opened at $100.90 on Friday. PulteGroup, Inc. has a 1-year low of $100.54 and a 1-year high of $149.47. The firm has a market cap of $20.43 billion, a PE ratio of 6.86, a price-to-earnings-growth ratio of 0.29 and a beta of 1.71. The company has a 50-day moving average of $109.15 and a two-hundred day moving average of $123.40. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86.

PulteGroup (NYSE:PHM) last posted its earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share 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%. On average, analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup declared that its Board of Directors has initiated a stock repurchase plan on Thursday, January 30th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the construction company to buy up to 6.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

PulteGroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.87%. The ex-dividend date is Tuesday, March 18th. PulteGroup’s payout ratio is 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.