Kingsview Wealth Management LLC Cuts Stake in PulteGroup, Inc. (NYSE:PHM)

Kingsview Wealth Management LLC cut its holdings in PulteGroup, Inc. (NYSE:PHM) by 11.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,174 shares of the construction company’s stock after selling 412 shares during the period. Kingsview Wealth Management LLC’s holdings in PulteGroup were worth $346,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC lifted its holdings in shares of PulteGroup by 115.1% in the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock worth $27,000 after buying an additional 99 shares in the last quarter. Transcendent Capital Group LLC bought a new stake in PulteGroup in the 3rd quarter valued at $29,000. Hager Investment Management Services LLC purchased a new stake in PulteGroup in the 4th quarter worth $29,000. R Squared Ltd bought a new position in shares of PulteGroup during the 4th quarter valued at about $39,000. Finally, JNBA Financial Advisors purchased a new position in shares of PulteGroup during the third quarter valued at about $43,000. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Trading Up 0.6 %

Shares of NYSE PHM opened at $106.67 on Friday. PulteGroup, Inc. has a fifty-two week low of $100.24 and a fifty-two week high of $149.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.73 and a current ratio of 0.86. The company has a market cap of $21.88 billion, a price-to-earnings ratio of 7.25, a PEG ratio of 0.29 and a beta of 1.68. The business’s 50 day moving average price is $113.44 and its 200-day moving average price is $126.49.

PulteGroup (NYSE:PHM) last released its earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share 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%. On average, sell-side analysts expect that PulteGroup, Inc. will post 12.43 earnings per share for the current year.

PulteGroup Dividend Announcement

The business 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 $0.22 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 annualized dividend and a yield of 0.82%. PulteGroup’s dividend payout ratio (DPR) is 5.98%.

PulteGroup declared that its Board of Directors has approved a share repurchase program on Thursday, January 30th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to reacquire up to 6.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Evercore ISI decreased their target price on PulteGroup from $198.00 to $195.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Wedbush reaffirmed an “outperform” rating and set a $135.00 price objective on shares of PulteGroup in a report on Friday, January 31st. Seaport Res Ptn lowered shares of PulteGroup from a “hold” rating to a “strong sell” rating in a report on Monday, January 27th. Wells Fargo & Company decreased their price target on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Finally, Oppenheimer dropped their price objective on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $140.86.

Insider Transactions at PulteGroup

In other news, VP Brien P. O’meara sold 3,500 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $106.40, for a total transaction of $372,400.00. Following the transaction, the vice president now owns 11,372 shares in the company, valued at approximately $1,209,980.80. This trade represents a 23.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Todd N. Sheldon sold 15,191 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 74,758 shares of the company’s stock, valued at approximately $7,961,727. This trade represents a 16.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,191 shares of company stock valued at $2,256,367. 0.83% of the stock is currently owned by company insiders.

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.