PulteGroup, Inc. (NYSE:PHM) Shares Acquired by HighTower Advisors LLC

HighTower Advisors LLC boosted its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 3.2% in the 4th quarter, Holdings Channel reports. The firm owned 20,508 shares of the construction company’s stock after buying an additional 645 shares during the period. HighTower Advisors LLC’s holdings in PulteGroup were worth $2,233,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PHM. Hager Investment Management Services LLC acquired a new stake in PulteGroup during the fourth quarter valued at approximately $29,000. Fortitude Family Office LLC raised its holdings 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 acquiring an additional 137 shares during the period. R Squared Ltd acquired a new stake in shares of PulteGroup during the fourth quarter valued at approximately $39,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of PulteGroup by 41.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 444 shares of the construction company’s stock valued at $48,000 after acquiring an additional 131 shares during the period. Finally, Oakworth Capital Inc. raised its holdings in shares of PulteGroup by 642.2% during the fourth quarter. Oakworth Capital Inc. now owns 475 shares of the construction company’s stock valued at $52,000 after acquiring an additional 411 shares during the period. 89.90% of the stock is owned by institutional investors and hedge funds.

PulteGroup Stock Performance

Shares of PHM opened at $103.04 on Friday. The company’s fifty day moving average is $108.54 and its 200-day moving average is $122.21. PulteGroup, Inc. has a 12 month low of $100.35 and a 12 month high of $149.47. The firm has a market cap of $20.86 billion, a price-to-earnings ratio of 7.00, a price-to-earnings-growth ratio of 0.29 and a beta of 1.71. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13.

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

PulteGroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be paid 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 0.85%. PulteGroup’s dividend payout ratio (DPR) is 5.98%.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PHM shares. Wedbush restated an “outperform” rating and set a $135.00 price target on shares of PulteGroup in a report on Friday, January 31st. Bank of America cut their price target 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. The Goldman Sachs Group cut their price target on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Citigroup cut their price target on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Finally, Barclays dropped their price objective on shares of PulteGroup from $125.00 to $117.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Seven research analysts have rated the stock with a hold rating and eleven 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 $140.86.

Insider Transactions at PulteGroup

In related news, 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 transaction of $372,400.00. Following the completion of the sale, the vice president now directly owns 11,372 shares of the company’s stock, valued at approximately $1,209,980.80. This represents a 23.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brian P. Anderson sold 2,500 shares of the company’s 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 sale, the director now directly owns 56,617 shares of the company’s stock, valued at approximately $6,026,879.65. This represents 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 worth $2,256,367 in the last 90 days. 0.83% 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.