Seascape Capital Management Lowers Position in PulteGroup, Inc. (NYSE:PHM)

Seascape Capital Management cut its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 0.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 49,894 shares of the construction company’s stock after selling 168 shares during the period. PulteGroup comprises about 1.9% of Seascape Capital Management’s investment portfolio, making the stock its 14th biggest position. Seascape Capital Management’s holdings in PulteGroup were worth $5,433,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of PHM. Fortitude Family Office LLC lifted its position in PulteGroup by 115.1% during the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock valued at $27,000 after purchasing an additional 99 shares in the last quarter. Transcendent Capital Group LLC purchased a new position in PulteGroup during the third quarter valued at $29,000. Hager Investment Management Services LLC purchased a new position in PulteGroup during the fourth quarter valued at $29,000. R Squared Ltd purchased a new position in shares of PulteGroup in the fourth quarter valued at about $39,000. Finally, JNBA Financial Advisors purchased a new position in shares of PulteGroup in the third quarter valued at about $43,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

PulteGroup Trading Up 0.7 %

PHM opened at $107.45 on Friday. The stock has a market cap of $21.75 billion, a price-to-earnings ratio of 7.30, a P/E/G ratio of 0.29 and a beta of 1.68. The stock’s 50 day moving average price is $112.63 and its 200-day moving average price is $126.12. PulteGroup, Inc. has a one year low of $100.24 and a one year high of $149.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.73 and a current ratio of 0.86.

PulteGroup (NYSE:PHM) last released its earnings results on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, beating analysts’ consensus estimates of $3.28 by $0.22. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. On average, equities analysts forecast that PulteGroup, Inc. will post 12.43 EPS for the current year.

PulteGroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be issued a $0.22 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.82%. PulteGroup’s payout ratio is 5.98%.

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PHM. 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 report on Monday, January 27th. The Goldman Sachs Group lowered 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. Barclays lowered their price objective on PulteGroup from $125.00 to $117.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. StockNews.com downgraded PulteGroup from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Finally, BTIG Research boosted their target price on PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. One 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $140.86.

Insider Activity at PulteGroup

In related news, Director Brian P. Anderson sold 2,500 shares of the business’s 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. The trade was a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Todd N. Sheldon sold 15,191 shares of the business’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 sale, the executive vice president now owns 74,758 shares of the company’s stock, valued at $7,961,727. The trade was a 16.89 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,191 shares of company stock worth $2,256,367. Company insiders own 0.83% of the company’s stock.

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.