PulteGroup, Inc. (NYSE:PHM) Shares Sold by Bison Wealth LLC

Bison Wealth LLC lessened its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 14.5% during the 4th quarter, Holdings Channel reports. The firm owned 4,897 shares of the construction company’s stock after selling 833 shares during the period. Bison Wealth LLC’s holdings in PulteGroup were worth $505,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PHM. Norges Bank acquired a new stake in shares of PulteGroup during the fourth quarter worth about $163,931,000. First Trust Advisors LP lifted its position in shares of PulteGroup by 29.4% during the first quarter. First Trust Advisors LP now owns 4,850,407 shares of the construction company’s stock worth $203,232,000 after purchasing an additional 1,101,565 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of PulteGroup by 54.6% during the fourth quarter. Pacer Advisors Inc. now owns 3,003,713 shares of the construction company’s stock worth $310,043,000 after purchasing an additional 1,060,466 shares in the last quarter. Invesco Ltd. lifted its position in shares of PulteGroup by 36.3% during the first quarter. Invesco Ltd. now owns 3,651,100 shares of the construction company’s stock worth $152,982,000 after purchasing an additional 972,310 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in PulteGroup in the fourth quarter valued at approximately $37,289,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

Insider Activity at PulteGroup

In other PulteGroup news, VP Brien P. O’meara sold 2,000 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $103.09, for a total value of $206,180.00. Following the completion of the sale, the vice president now owns 15,389 shares of the company’s stock, valued at $1,586,452.01. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.75% of the stock is currently owned by insiders.

PulteGroup Stock Performance

NYSE:PHM opened at $106.88 on Wednesday. The firm’s fifty day moving average price is $110.32 and its 200 day moving average price is $97.71. PulteGroup, Inc. has a 1-year low of $59.95 and a 1-year high of $121.07. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market cap of $22.55 billion, a price-to-earnings ratio of 9.10, a price-to-earnings-growth ratio of 0.53 and a beta of 1.56.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Tuesday, January 30th. The construction company reported $3.28 earnings per share for the quarter, beating analysts’ consensus estimates of $3.21 by $0.07. PulteGroup had a net margin of 16.20% and a return on equity of 25.97%. The firm had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.47 billion. During the same period last year, the firm posted $3.63 EPS. PulteGroup’s quarterly revenue was down 15.5% on a year-over-year basis. On average, sell-side analysts expect that PulteGroup, Inc. will post 11.79 EPS for the current year.

PulteGroup announced that its board has approved a share repurchase plan on Tuesday, January 30th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to buy up to 6.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

PulteGroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Friday, March 15th were given a $0.20 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 0.75%. PulteGroup’s dividend payout ratio (DPR) is 6.81%.

Analyst Upgrades and Downgrades

PHM has been the topic of several analyst reports. Raymond James raised their target price on shares of PulteGroup from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Wedbush reaffirmed a “neutral” rating and issued a $85.00 target price on shares of PulteGroup in a report on Wednesday, January 31st. UBS Group cut shares of PulteGroup from a “buy” rating to a “neutral” rating and raised their target price for the company from $93.00 to $120.00 in a report on Thursday, January 4th. The Goldman Sachs Group increased their price target on shares of PulteGroup from $91.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, January 11th. Finally, Citigroup increased their price target on shares of PulteGroup from $116.00 to $127.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, PulteGroup has an average rating of “Moderate Buy” and a consensus price target of $106.47.

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.