Seascape Capital Management Lowers Stake in PulteGroup, Inc. (NYSE:PHM)

Seascape Capital Management lowered its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 0.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,894 shares of the construction company’s stock after selling 168 shares during the period. PulteGroup accounts for about 1.9% of Seascape Capital Management’s investment portfolio, making the stock its 14th biggest holding. Seascape Capital Management’s holdings in PulteGroup were worth $5,433,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of PHM. Cromwell Holdings LLC lifted its holdings in shares of PulteGroup by 17.2% during the 3rd quarter. Cromwell Holdings LLC now owns 565 shares of the construction company’s stock valued at $81,000 after purchasing an additional 83 shares during the last quarter. Concord Wealth Partners lifted its holdings in shares of PulteGroup by 1.7% during the 3rd quarter. Concord Wealth Partners now owns 5,002 shares of the construction company’s stock valued at $718,000 after purchasing an additional 83 shares during the last quarter. Ashton Thomas Private Wealth LLC lifted its holdings in shares of PulteGroup by 3.0% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 3,054 shares of the construction company’s stock valued at $438,000 after purchasing an additional 88 shares during the last quarter. Richardson Financial Services Inc. lifted its holdings in shares of PulteGroup by 16.7% during the 4th quarter. Richardson Financial Services Inc. now owns 622 shares of the construction company’s stock valued at $68,000 after purchasing an additional 89 shares during the last quarter. Finally, Premier Path Wealth Partners LLC lifted its holdings in shares of PulteGroup by 3.8% during the 4th quarter. Premier Path Wealth Partners LLC now owns 2,572 shares of the construction company’s stock valued at $280,000 after purchasing an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PHM. Evercore ISI decreased their price objective on PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Wedbush reiterated an “outperform” rating and set a $135.00 price objective on shares of PulteGroup in a report on Friday, January 31st. StockNews.com downgraded PulteGroup from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Wells Fargo & Company cut their target price on PulteGroup from $165.00 to $140.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Finally, Oppenheimer cut their target price on PulteGroup from $165.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.86.

Insider Activity

In related news, EVP Todd N. Sheldon sold 15,191 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were 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 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Brien P. O’meara sold 3,500 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $106.40, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,191 shares of company stock worth $2,256,367 in the last ninety days. Company insiders own 0.83% of the company’s stock.

PulteGroup Price Performance

Shares of PHM opened at $107.45 on Friday. The business’s 50-day moving average is $112.63 and its two-hundred day moving average is $126.12. The company has a market capitalization of $21.75 billion, a P/E ratio of 7.30, a P/E/G ratio of 0.29 and a beta of 1.68. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.73 and a current ratio of 0.86. PulteGroup, Inc. has a fifty-two week low of $100.24 and a fifty-two week high of $149.47.

PulteGroup (NYSE:PHM) last posted its earnings results on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, beating 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%. Research analysts predict that PulteGroup, Inc. will post 12.43 earnings per share for the current year.

PulteGroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date is Tuesday, March 18th. PulteGroup’s dividend payout ratio (DPR) is presently 5.98%.

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

About PulteGroup

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.