Principal Securities Inc. Increases Position in PulteGroup, Inc. (NYSE:PHM)

Principal Securities Inc. raised its position in shares of PulteGroup, Inc. (NYSE:PHM) by 3.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,790 shares of the construction company’s stock after buying an additional 379 shares during the period. Principal Securities Inc.’s holdings in PulteGroup were worth $1,393,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Logan Capital Management Inc. lifted its stake in PulteGroup by 67.7% during the 3rd quarter. Logan Capital Management Inc. now owns 14,797 shares of the construction company’s stock worth $2,124,000 after acquiring an additional 5,976 shares in the last quarter. Sanctuary Advisors LLC lifted its position in shares of PulteGroup by 38.1% during the third quarter. Sanctuary Advisors LLC now owns 121,299 shares of the construction company’s stock worth $17,410,000 after purchasing an additional 33,472 shares in the last quarter. Trustmark National Bank Trust Department boosted its stake in shares of PulteGroup by 39.8% in the third quarter. Trustmark National Bank Trust Department now owns 39,589 shares of the construction company’s stock valued at $5,682,000 after purchasing an additional 11,269 shares during the period. Systematic Financial Management LP grew its holdings in shares of PulteGroup by 3.9% in the third quarter. Systematic Financial Management LP now owns 130,257 shares of the construction company’s stock valued at $18,696,000 after purchasing an additional 4,840 shares in the last quarter. Finally, Nilsine Partners LLC increased its stake in PulteGroup by 929.2% during the 4th quarter. Nilsine Partners LLC now owns 20,574 shares of the construction company’s stock worth $2,240,000 after buying an additional 18,575 shares during the period. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on PHM. Wells Fargo & Company decreased their price target on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Seaport Res Ptn cut PulteGroup from a “hold” rating to a “strong sell” rating in a research note on Monday, January 27th. BTIG Research increased their price target on PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Oppenheimer lowered their price objective on PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a research report on Friday, January 31st. Finally, Bank of America reduced their target price on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, PulteGroup currently has an average rating of “Moderate Buy” and an average target price of $140.86.

PulteGroup Price Performance

Shares of NYSE:PHM opened at $105.63 on Wednesday. PulteGroup, Inc. has a 12 month low of $100.24 and a 12 month high of $149.47. The firm has a market capitalization of $21.66 billion, a P/E ratio of 7.18, 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 current ratio of 0.86 and a quick ratio of 0.73. The company’s fifty day moving average price is $112.21 and its 200 day moving average price is $125.93.

PulteGroup (NYSE:PHM) last posted its earnings results on Thursday, January 30th. The construction company reported $3.50 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 12.43 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Tuesday, March 18th. PulteGroup’s payout ratio is currently 5.98%.

PulteGroup declared that its Board of Directors has authorized a stock repurchase 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 purchase up to 6.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insider Transactions at PulteGroup

In related news, VP Brien P. O’meara sold 3,500 shares of the stock in a transaction on 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 sale, the vice president now owns 11,372 shares in the company, valued at $1,209,980.80. This represents a 23.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Todd N. Sheldon sold 15,191 shares of PulteGroup stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $106.50, for a total transaction of $1,617,841.50. Following the completion of the transaction, the executive vice president now owns 74,758 shares in the company, valued at approximately $7,961,727. This represents a 16.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,191 shares of company stock worth $2,256,367. Insiders own 0.83% of the company’s stock.

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.