LPL Financial LLC Boosts Position in PulteGroup, Inc. (NYSE:PHM)

LPL Financial LLC boosted its position in PulteGroup, Inc. (NYSE:PHM) by 11.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 390,579 shares of the construction company’s stock after purchasing an additional 39,321 shares during the period. LPL Financial LLC owned about 0.19% of PulteGroup worth $42,534,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Franklin Resources Inc. boosted its holdings in shares of PulteGroup by 5.5% in the third quarter. Franklin Resources Inc. now owns 11,254,274 shares of the construction company’s stock worth $1,647,364,000 after buying an additional 585,735 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in PulteGroup by 7.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,864,040 shares of the construction company’s stock worth $267,546,000 after acquiring an additional 135,391 shares during the period. Amundi boosted its stake in shares of PulteGroup by 77.9% during the 4th quarter. Amundi now owns 1,636,562 shares of the construction company’s stock worth $180,775,000 after acquiring an additional 716,716 shares during the last quarter. Nordea Investment Management AB grew its position in shares of PulteGroup by 10.0% during the 4th quarter. Nordea Investment Management AB now owns 1,424,119 shares of the construction company’s stock valued at $155,856,000 after acquiring an additional 129,975 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of PulteGroup by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,351,491 shares of the construction company’s stock worth $147,177,000 after purchasing an additional 19,829 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Price Performance

NYSE:PHM opened at $101.76 on Friday. The business’s 50-day moving average is $107.58 and its 200 day moving average is $121.39. PulteGroup, Inc. has a 12 month low of $100.35 and a 12 month high of $149.47. The company has a market capitalization of $20.60 billion, a P/E ratio of 6.92, a P/E/G 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 issued its quarterly earnings data 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%. On average, equities research analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

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

PulteGroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.22 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 annualized dividend and a yield of 0.86%. PulteGroup’s dividend payout ratio (DPR) is currently 5.98%.

Insiders Place Their Bets

In related news, Director Brian P. Anderson sold 2,500 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $106.45, for a total value of $266,125.00. Following the completion of the transaction, the director now owns 56,617 shares of the company’s stock, valued at approximately $6,026,879.65. This trade represents a 4.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Todd N. Sheldon sold 15,191 shares of the business’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 value of $1,617,841.50. Following the sale, the executive vice president now directly owns 74,758 shares in the company, valued at $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 valued at $2,256,367 in the last three months. Corporate insiders own 0.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PHM. Citigroup lowered 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. Seaport Res Ptn raised PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 6th. The Goldman Sachs Group reduced their target price on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. StockNews.com downgraded shares of PulteGroup from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of PulteGroup from $162.00 to $155.00 and set an “overweight” rating for the company in a research note on Friday, December 13th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, PulteGroup 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.