PulteGroup, Inc. (NYSE:PHM) Stock Position Lessened by Ieq Capital LLC

Ieq Capital LLC reduced its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 2.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 13,320 shares of the construction company’s stock after selling 282 shares during the period. Ieq Capital LLC’s holdings in PulteGroup were worth $1,451,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Private Advisor Group LLC lifted its stake in shares of PulteGroup by 9.2% in the 3rd quarter. Private Advisor Group LLC now owns 10,943 shares of the construction company’s stock worth $1,571,000 after acquiring an additional 924 shares during the period. International Assets Investment Management LLC acquired a new stake in PulteGroup in the third quarter worth approximately $7,598,000. Assenagon Asset Management S.A. lifted its position in PulteGroup by 97.3% in the third quarter. Assenagon Asset Management S.A. now owns 46,603 shares of the construction company’s stock worth $6,689,000 after purchasing an additional 22,982 shares during the period. Forsta AP Fonden increased its position in shares of PulteGroup by 19.7% during the 3rd quarter. Forsta AP Fonden now owns 44,300 shares of the construction company’s stock valued at $6,358,000 after purchasing an additional 7,300 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of PulteGroup by 32.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 67,191 shares of the construction company’s stock worth $9,644,000 after buying an additional 16,445 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

Insider Transactions at PulteGroup

In related news, 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 transaction of $1,617,841.50. Following the transaction, 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 is available through the SEC website. Also, VP Brien P. O’meara sold 3,500 shares of PulteGroup stock in a transaction that occurred 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 owns 11,372 shares of the company’s stock, valued at $1,209,980.80. This trade represents a 23.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,191 shares of company stock valued at $2,256,367 in the last three months. Corporate insiders own 0.75% of the company’s stock.

Wall Street Analysts Forecast Growth

PHM has been the topic of several research reports. Citigroup dropped their price target on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Barclays cut their target price 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. UBS Group raised their target price on shares of PulteGroup from $148.00 to $151.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Wells Fargo & Company cut their price objective on PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Finally, JPMorgan Chase & Co. decreased their target price on PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a report on Friday, December 13th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $140.86.

PulteGroup Stock Performance

Shares of PHM opened at $101.64 on Tuesday. The company has a market capitalization of $20.58 billion, a PE ratio of 6.91, a PEG ratio of 0.29 and a beta of 1.68. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86. The company’s 50 day moving average price is $110.56 and its 200 day moving average price is $125.25. PulteGroup, Inc. has a 52 week low of $100.54 and a 52 week high of $149.47.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results 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 net margin of 17.18% and a return on equity of 24.43%. Research analysts expect that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

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

PulteGroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.87%. The ex-dividend date is Tuesday, March 18th. PulteGroup’s payout ratio is currently 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.