Callan Family Office LLC Makes New $263,000 Investment in PulteGroup, Inc. (NYSE:PHM)

Callan Family Office LLC acquired a new position in shares of PulteGroup, Inc. (NYSE:PHM) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,412 shares of the construction company’s stock, valued at approximately $263,000.

Several other large investors also recently added to or reduced their stakes in the stock. Summit Global Investments bought a new position in shares of PulteGroup during the third quarter valued at approximately $251,000. Leavell Investment Management Inc. bought a new position in shares of PulteGroup during the third quarter valued at approximately $231,000. Verdence Capital Advisors LLC grew its stake in shares of PulteGroup by 2.8% during the third quarter. Verdence Capital Advisors LLC now owns 3,598 shares of the construction company’s stock valued at $516,000 after buying an additional 97 shares during the last quarter. Covestor Ltd grew its stake in shares of PulteGroup by 186.0% during the third quarter. Covestor Ltd now owns 981 shares of the construction company’s stock valued at $141,000 after buying an additional 638 shares during the last quarter. Finally, Transcendent Capital Group LLC bought a new position in shares of PulteGroup during the third quarter valued at approximately $29,000. 89.90% of the stock is owned by institutional investors.

PulteGroup Stock Down 0.4 %

PulteGroup stock opened at $107.48 on Tuesday. PulteGroup, Inc. has a twelve month low of $100.54 and a twelve month high of $149.47. The business has a fifty day moving average of $109.46 and a two-hundred day moving average of $123.91. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. The firm has a market cap of $21.76 billion, a P/E ratio of 7.31, a P/E/G ratio of 0.29 and a beta of 1.71.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, beating 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, analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup declared that its board has initiated a stock repurchase plan on Thursday, January 30th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the construction company to purchase up to 6.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

PulteGroup Announces Dividend

The firm 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 dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.88 annualized dividend and a dividend yield of 0.82%. PulteGroup’s dividend payout ratio is presently 5.98%.

Insider Activity

In other news, Director Brian P. Anderson sold 2,500 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $106.45, for a total transaction of $266,125.00. Following the completion of the sale, the director now owns 56,617 shares in the company, valued at approximately $6,026,879.65. This represents a 4.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Brien P. O’meara sold 3,500 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $106.40, for a total value of $372,400.00. Following the completion of the transaction, the vice president now directly owns 11,372 shares in the company, valued at approximately $1,209,980.80. The trade was a 23.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,191 shares of company stock worth $2,256,367. Insiders own 0.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PHM shares. The Goldman Sachs Group cut their target price on PulteGroup from $140.00 to $124.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Bank of America lowered their price target on PulteGroup from $135.00 to $134.00 and set a “buy” rating for the company in a report on Monday, January 27th. JPMorgan Chase & Co. lowered their price target on PulteGroup from $162.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, December 13th. Wells Fargo & Company lowered their price target on PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Finally, Seaport Res Ptn upgraded PulteGroup from a “strong sell” rating to a “hold” rating in a report on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock 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.