Ellevest Inc. Cuts Stake in PulteGroup, Inc. (NYSE:PHM)

Ellevest Inc. cut its holdings in PulteGroup, Inc. (NYSE:PHM) by 6.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,957 shares of the construction company’s stock after selling 273 shares during the period. Ellevest Inc.’s holdings in PulteGroup were worth $431,000 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. Hager Investment Management Services LLC bought a new position in shares of PulteGroup during the fourth quarter worth $29,000. Fortitude Family Office LLC grew its position in shares of PulteGroup by 74.1% during 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 in the last quarter. TD Waterhouse Canada Inc. increased its holdings in shares of PulteGroup by 43.0% in the fourth quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company’s stock worth $38,000 after purchasing an additional 105 shares during the last quarter. R Squared Ltd bought a new position in PulteGroup during the fourth quarter valued at approximately $39,000. Finally, Quarry LP purchased a new position in PulteGroup during the 4th quarter valued at approximately $43,000. 89.90% of the stock is currently owned by institutional investors.

Insider Transactions at PulteGroup

In other PulteGroup news, EVP Todd N. Sheldon sold 15,191 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $106.50, for a total value of $1,617,841.50. Following the completion of the sale, the executive vice president now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian P. Anderson sold 2,500 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $106.45, for a total transaction of $266,125.00. Following the completion of the transaction, the director now directly owns 56,617 shares of the company’s stock, valued at $6,026,879.65. The trade was a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,191 shares of company stock valued at $2,256,367 in the last 90 days. Insiders own 0.76% of the company’s stock.

PulteGroup Stock Performance

PulteGroup stock opened at $102.57 on Friday. The company has a 50 day moving average price of $101.13 and a 200-day moving average price of $112.23. The company has a market capitalization of $20.56 billion, a PE ratio of 6.97, a P/E/G ratio of 0.29 and a beta of 1.37. PulteGroup, Inc. has a fifty-two week low of $88.07 and a fifty-two week high of $149.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, April 22nd. The construction company reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.10. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. The firm had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.86 billion. During the same period last year, the firm earned $3.10 earnings per share. As a group, equities analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup declared that its board has initiated a share buyback program on Thursday, January 30th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the construction company to buy up to 6.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

PulteGroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Tuesday, June 17th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Tuesday, June 17th. PulteGroup’s payout ratio is 6.21%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PHM shares. Wells Fargo & Company cut their target price on shares of PulteGroup from $140.00 to $120.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Barclays decreased their target price on shares of PulteGroup from $100.00 to $98.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 23rd. UBS Group dropped their price target on PulteGroup from $151.00 to $141.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. 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 research report on Tuesday, January 14th. Finally, Wedbush reissued an “outperform” rating and set a $135.00 target price on shares of PulteGroup in a research report on Tuesday, April 22nd. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, PulteGroup has a consensus rating of “Moderate Buy” and a consensus price target of $134.69.

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.