Blue Trust Inc. Cuts Stock Position in PulteGroup, Inc. (NYSE:PHM)

Blue Trust Inc. lessened its position in shares of PulteGroup, Inc. (NYSE:PHM) by 74.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,517 shares of the construction company’s stock after selling 4,428 shares during the period. Blue Trust Inc.’s holdings in PulteGroup were worth $165,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PHM. Creative Planning lifted its position in shares of PulteGroup by 4.0% during the 3rd quarter. Creative Planning now owns 23,639 shares of the construction company’s stock valued at $3,393,000 after buying an additional 901 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in PulteGroup by 8.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 19,624 shares of the construction company’s stock worth $2,817,000 after purchasing an additional 1,497 shares in the last quarter. Signaturefd LLC lifted its holdings in PulteGroup by 6.2% during the 3rd quarter. Signaturefd LLC now owns 6,565 shares of the construction company’s stock worth $942,000 after purchasing an additional 384 shares in the last quarter. Private Advisor Group LLC lifted its holdings in PulteGroup by 9.2% during the 3rd quarter. Private Advisor Group LLC now owns 10,943 shares of the construction company’s stock worth $1,571,000 after purchasing an additional 924 shares in the last quarter. Finally, Axecap Investments LLC purchased a new stake in PulteGroup during the 3rd quarter worth about $2,975,000. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Insider Activity at PulteGroup

In other PulteGroup news, Director Brian P. Anderson sold 2,500 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $106.45, for a total value 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 trade represents a 4.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Todd N. Sheldon sold 15,191 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 74,758 shares of the company’s stock, valued at approximately $7,961,727. The trade was a 16.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,191 shares of company stock worth $2,256,367 in the last ninety days. 0.83% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PHM shares. StockNews.com cut PulteGroup from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. Wedbush reissued an “outperform” rating and set a $135.00 price objective on shares of PulteGroup in a report on Friday, January 31st. Seaport Res Ptn cut PulteGroup from a “hold” rating to a “strong sell” rating in a report on Monday, January 27th. Oppenheimer dropped their price objective on PulteGroup from $165.00 to $150.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. Finally, Bank of America dropped their price objective on 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 issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $140.86.

PulteGroup Price Performance

Shares of PulteGroup stock opened at $105.80 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $21.42 billion, a PE ratio of 7.19, a price-to-earnings-growth ratio of 0.29 and a beta of 1.68. The business’s 50-day moving average price is $111.47 and its 200-day moving average price is $125.63. PulteGroup, Inc. has a 12 month low of $101.13 and a 12 month high of $149.47.

PulteGroup (NYSE:PHM) last announced 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%. Sell-side analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

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

PulteGroup Announces Dividend

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

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.