PulteGroup, Inc. (NYSE:PHM) Shares Sold by Zacks Investment Management

Zacks Investment Management lessened its position in shares of PulteGroup, Inc. (NYSE:PHM) by 17.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 215,356 shares of the construction company’s stock after selling 46,838 shares during the quarter. Zacks Investment Management owned approximately 0.11% of PulteGroup worth $23,452,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hager Investment Management Services LLC acquired a new stake in shares of PulteGroup during the 4th quarter valued at about $29,000. Fortitude Family Office LLC grew its holdings in PulteGroup by 74.1% in the fourth quarter. Fortitude Family Office LLC now owns 322 shares of the construction company’s stock valued at $35,000 after purchasing an additional 137 shares during the period. R Squared Ltd purchased a new stake in shares of PulteGroup in the fourth quarter valued at approximately $39,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of PulteGroup by 41.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 444 shares of the construction company’s stock worth $48,000 after buying an additional 131 shares during the period. Finally, Oakworth Capital Inc. raised its stake in shares of PulteGroup by 642.2% during the 4th quarter. Oakworth Capital Inc. now owns 475 shares of the construction company’s stock worth $52,000 after buying an additional 411 shares during the period. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PHM. The Goldman Sachs Group decreased their price objective on PulteGroup from $140.00 to $124.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Oppenheimer decreased their target price on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. Wedbush reaffirmed an “outperform” rating and issued a $135.00 price target on shares of PulteGroup in a report on Friday, January 31st. Bank of America lowered their price objective on PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. Finally, UBS Group boosted their target price on shares of PulteGroup from $148.00 to $151.00 and gave the company a “buy” rating in a report on Friday, January 31st. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $138.21.

PulteGroup Price Performance

Shares of NYSE PHM opened at $92.94 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market cap of $18.82 billion, a price-to-earnings ratio of 6.32, a price-to-earnings-growth ratio of 0.29 and a beta of 1.44. The stock’s 50-day moving average is $102.51 and its two-hundred day moving average is $117.08. PulteGroup, Inc. has a 1-year low of $88.07 and a 1-year high of $149.47.

PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.28 by $0.22. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. Analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend was Tuesday, March 18th. PulteGroup’s dividend payout ratio (DPR) is 5.98%.

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

Insider Buying and Selling

In other news, EVP Todd N. Sheldon sold 15,191 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 74,758 shares in the company, valued at $7,961,727. The trade was a 16.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 sale, the vice president now owns 11,372 shares of the company’s stock, valued at approximately $1,209,980.80. The trade was a 23.53 % decrease in their position. 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 quarter. 0.76% of the stock is owned by insiders.

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.