Royal London Asset Management Ltd. Purchases 12,090 Shares of PulteGroup, Inc. (NYSE:PHM)

Royal London Asset Management Ltd. grew its position in PulteGroup, Inc. (NYSE:PHM) by 12.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 108,643 shares of the construction company’s stock after buying an additional 12,090 shares during the period. Royal London Asset Management Ltd.’s holdings in PulteGroup were worth $11,831,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Richardson Financial Services Inc. grew its position in shares of PulteGroup by 16.7% in the 4th quarter. Richardson Financial Services Inc. now owns 622 shares of the construction company’s stock valued at $68,000 after acquiring an additional 89 shares during the period. Premier Path Wealth Partners LLC boosted its holdings in shares of PulteGroup by 3.8% during the 4th quarter. Premier Path Wealth Partners LLC now owns 2,572 shares of the construction company’s stock worth $280,000 after buying an additional 95 shares during the period. Meridian Wealth Management LLC boosted its holdings in shares of PulteGroup by 0.7% during the 4th quarter. Meridian Wealth Management LLC now owns 13,224 shares of the construction company’s stock worth $1,440,000 after buying an additional 95 shares during the period. Fidelis Capital Partners LLC boosted its holdings in shares of PulteGroup by 2.4% during the 4th quarter. Fidelis Capital Partners LLC now owns 4,384 shares of the construction company’s stock worth $479,000 after buying an additional 103 shares during the period. Finally, Wedmont Private Capital boosted its holdings in shares of PulteGroup by 3.7% during the 4th quarter. Wedmont Private Capital now owns 3,050 shares of the construction company’s stock worth $328,000 after buying an additional 110 shares during the period. Institutional investors own 89.90% of the company’s stock.

Insider Buying and Selling

In related news, VP Brien P. O’meara sold 3,500 shares of the company’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 transaction of $372,400.00. Following the completion of the transaction, the vice president now directly owns 11,372 shares in the company, valued at $1,209,980.80. This represents a 23.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Todd N. Sheldon sold 15,191 shares of the company’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 transaction, the executive vice president now owns 74,758 shares of the company’s stock, valued at approximately $7,961,727. This represents a 16.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,191 shares of company stock worth $2,256,367 in the last three months. 0.83% of the stock is owned by corporate insiders.

PulteGroup Price Performance

Shares of NYSE:PHM opened at $103.04 on Friday. The firm has a 50 day moving average of $108.54 and a 200-day moving average of $122.21. The stock has a market capitalization of $20.86 billion, a PE ratio of 7.00, a PEG ratio of 0.29 and a beta of 1.71. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a 12 month low of $100.35 and a 12 month high of $149.47.

PulteGroup (NYSE:PHM) last issued its 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%. On average, equities research analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

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

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Tuesday, March 18th. PulteGroup’s dividend payout ratio is 5.98%.

Wall Street Analyst Weigh In

PHM has been the subject of several research analyst reports. UBS Group lifted 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. The Goldman Sachs Group reduced their target price on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Seaport Res Ptn raised shares of PulteGroup from a “strong sell” rating to a “hold” rating in a report on Thursday, March 6th. Citigroup dropped their price objective on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Finally, StockNews.com cut shares of PulteGroup from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $140.86.

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.