Naviter Wealth LLC Buys New Shares in PulteGroup, Inc. (NYSE:PHM)

Naviter Wealth LLC bought a new stake in PulteGroup, Inc. (NYSE:PHM) during the 4th quarter, HoldingsChannel.com reports. The fund bought 4,430 shares of the construction company’s stock, valued at approximately $483,000.

Other hedge funds have also recently made changes to their positions in the company. Logan Capital Management Inc. increased its position in shares of PulteGroup by 67.7% in the 3rd quarter. Logan Capital Management Inc. now owns 14,797 shares of the construction company’s stock valued at $2,124,000 after acquiring an additional 5,976 shares during the period. Sanctuary Advisors LLC increased its position in shares of PulteGroup by 38.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 121,299 shares of the construction company’s stock valued at $17,410,000 after acquiring an additional 33,472 shares during the period. Trustmark National Bank Trust Department increased its position in shares of PulteGroup by 39.8% in the 3rd quarter. Trustmark National Bank Trust Department now owns 39,589 shares of the construction company’s stock valued at $5,682,000 after acquiring an additional 11,269 shares during the period. Systematic Financial Management LP increased its position in shares of PulteGroup by 3.9% in the 3rd quarter. Systematic Financial Management LP now owns 130,257 shares of the construction company’s stock valued at $18,696,000 after acquiring an additional 4,840 shares during the period. Finally, Nilsine Partners LLC increased its position in shares of PulteGroup by 929.2% in the 4th quarter. Nilsine Partners LLC now owns 20,574 shares of the construction company’s stock valued at $2,240,000 after acquiring an additional 18,575 shares during the period. 89.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PHM shares. Wedbush reaffirmed an “outperform” rating and issued a $135.00 price target on shares of PulteGroup in a report on Friday, January 31st. Seaport Res Ptn raised shares of PulteGroup from a “strong sell” rating to a “hold” rating in a report on Thursday. Bank of America lowered 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. Barclays lowered their price target on shares of PulteGroup from $125.00 to $117.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Finally, Oppenheimer lowered their price target on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, PulteGroup has a consensus rating of “Moderate Buy” and an average target price of $140.86.

PulteGroup Stock Down 0.2 %

PHM opened at $108.06 on Friday. 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 price of $109.48 and a 200 day moving average price of $124.09. The company has a market cap of $21.88 billion, a PE ratio of 7.35, a price-to-earnings-growth ratio of 0.29 and a beta of 1.71.

PulteGroup (NYSE:PHM) last released its quarterly earnings data 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 net margin of 17.18% and a return on equity of 24.43%. Sell-side analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend is Tuesday, March 18th. PulteGroup’s dividend payout ratio (DPR) is 5.98%.

PulteGroup announced that its board 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 reacquire up to 6.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other PulteGroup news, VP Brien P. O’meara sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $106.40, for a total value of $372,400.00. Following the transaction, the vice president now directly owns 11,372 shares of the company’s stock, valued at $1,209,980.80. This trade represents a 23.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Todd N. Sheldon sold 15,191 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 74,758 shares in the company, valued at $7,961,727. This trade represents a 16.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,191 shares of company stock valued at $2,256,367 in the last ninety days. 0.75% of the stock is currently owned by corporate insiders.

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.