Schechter Investment Advisors LLC Sells 1,223 Shares of PulteGroup, Inc. (NYSE:PHM)

Schechter Investment Advisors LLC reduced its position in shares of PulteGroup, Inc. (NYSE:PHM) by 14.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,495 shares of the construction company’s stock after selling 1,223 shares during the period. Schechter Investment Advisors LLC’s holdings in PulteGroup were worth $816,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its holdings in PulteGroup by 5.5% during the 3rd quarter. Franklin Resources Inc. now owns 11,254,274 shares of the construction company’s stock valued at $1,647,364,000 after purchasing an additional 585,735 shares during the last quarter. FMR LLC raised its stake in shares of PulteGroup by 102.3% in the third quarter. FMR LLC now owns 9,040,828 shares of the construction company’s stock worth $1,297,630,000 after acquiring an additional 4,571,757 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of PulteGroup by 7.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,864,040 shares of the construction company’s stock worth $267,546,000 after acquiring an additional 135,391 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of PulteGroup by 10.0% in the fourth quarter. Nordea Investment Management AB now owns 1,424,119 shares of the construction company’s stock worth $155,856,000 after acquiring an additional 129,975 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of PulteGroup by 6.3% in the third quarter. Victory Capital Management Inc. now owns 1,025,276 shares of the construction company’s stock worth $147,158,000 after acquiring an additional 60,854 shares during the last quarter. 89.90% of the stock is owned by institutional investors.

PulteGroup Stock Up 0.9 %

PulteGroup stock opened at $102.94 on Wednesday. The stock has a market capitalization of $20.84 billion, a PE ratio of 7.00, a price-to-earnings-growth ratio of 0.29 and a beta of 1.68. PulteGroup, Inc. has a twelve month low of $100.54 and a twelve month high of $149.47. 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 company has a 50 day moving average of $109.65 and a 200-day moving average of $124.45.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share for the quarter, beating 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%. On average, equities research analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Dividend Announcement

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 given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Tuesday, March 18th. PulteGroup’s dividend payout ratio is presently 5.98%.

PulteGroup announced that its Board of Directors has approved a share buyback program on Thursday, January 30th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the construction company to reacquire up to 6.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

PHM has been the subject of a number of research analyst reports. Bank of America dropped their target price on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating for the company in a research note on Monday, January 27th. UBS Group boosted their price target on shares of PulteGroup from $148.00 to $151.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. dropped their price target on shares of PulteGroup from $162.00 to $155.00 and set an “overweight” rating for the company in a research note on Friday, December 13th. The Goldman Sachs Group dropped their price target on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Finally, Barclays dropped their price target on shares of PulteGroup from $125.00 to $117.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, PulteGroup currently has an average rating of “Moderate Buy” and a consensus price target of $140.86.

Insider Transactions at PulteGroup

In other news, Director Brian P. Anderson sold 2,500 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $106.45, for a total value of $266,125.00. Following the sale, the director now 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Todd N. Sheldon sold 15,191 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $106.50, for a total transaction of $1,617,841.50. Following the completion of the sale, the executive vice president now directly owns 74,758 shares in the company, valued at approximately $7,961,727. This represents a 16.89 % decrease in their position. 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 over the last 90 days. 0.83% of the stock is owned by corporate 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.