PulteGroup, Inc. (NYSE:PHM) Stake Cut by GLOBALT Investments LLC GA

GLOBALT Investments LLC GA cut its position in shares of PulteGroup, Inc. (NYSE:PHM) by 1.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 9,894 shares of the construction company’s stock after selling 118 shares during the period. GLOBALT Investments LLC GA’s holdings in PulteGroup were worth $1,077,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. Frank Rimerman Advisors LLC lifted its stake in PulteGroup by 27.6% during the fourth quarter. Frank Rimerman Advisors LLC now owns 1,856 shares of the construction company’s stock worth $202,000 after purchasing an additional 402 shares during the last quarter. Madison Investment Advisors LLC acquired a new stake in PulteGroup in the fourth quarter worth $233,000. Commonwealth Equity Services LLC increased its position in PulteGroup by 0.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 61,570 shares of the construction company’s stock worth $6,705,000 after buying an additional 337 shares during the period. Vestcor Inc increased its position in PulteGroup by 5.3% in the fourth quarter. Vestcor Inc now owns 14,474 shares of the construction company’s stock worth $1,576,000 after buying an additional 726 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in PulteGroup in the fourth quarter worth $2,141,000. 89.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on PHM shares. Wedbush reaffirmed an “outperform” rating and issued a $135.00 target price on shares of PulteGroup in a research report on Friday, January 31st. The Goldman Sachs Group dropped their target price on PulteGroup from $140.00 to $124.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Citigroup dropped their target price on PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. dropped their target price on PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a research report on Friday, December 13th. Finally, StockNews.com lowered PulteGroup from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, PulteGroup presently has an average rating of “Moderate Buy” and a consensus target price of $140.86.

Insider Activity at PulteGroup

In related news, 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 transaction, the executive vice president now owns 74,758 shares of the company’s stock, valued at approximately $7,961,727. This trade represents a 16.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 transaction, the vice president now directly owns 11,372 shares in the company, valued at $1,209,980.80. This represents a 23.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,191 shares of company stock worth $2,256,367 in the last quarter. 0.83% of the stock is owned by company insiders.

PulteGroup Price Performance

NYSE:PHM opened at $103.97 on Tuesday. The business’s 50-day moving average price is $108.92 and its 200 day moving average price is $122.89. The firm has a market cap of $21.05 billion, a P/E ratio of 7.07, a PEG ratio of 0.29 and a beta of 1.71. 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.

PulteGroup (NYSE:PHM) last released its earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share (EPS) for the quarter, topping 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, sell-side analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

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 issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Tuesday, March 18th. PulteGroup’s payout ratio is currently 5.98%.

PulteGroup declared that its Board of Directors has authorized a share buyback program on Thursday, January 30th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 6.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

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.