Los Angeles Capital Management LLC Lowers Holdings in PulteGroup, Inc. (NYSE:PHM)

Los Angeles Capital Management LLC decreased its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 72.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 252,470 shares of the construction company’s stock after selling 660,814 shares during the quarter. Los Angeles Capital Management LLC owned about 0.12% of PulteGroup worth $27,494,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of PHM. Fortitude Family Office LLC raised its stake in shares of PulteGroup by 115.1% in the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock worth $27,000 after purchasing an additional 99 shares during the last quarter. Transcendent Capital Group LLC purchased a new position in shares of PulteGroup in the third quarter worth $29,000. Hager Investment Management Services LLC purchased a new position in shares of PulteGroup in the fourth quarter worth $29,000. R Squared Ltd purchased a new position in shares of PulteGroup in the fourth quarter worth $39,000. Finally, JNBA Financial Advisors purchased a new position in shares of PulteGroup in the third quarter worth $43,000. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Performance

NYSE:PHM opened at $106.44 on Wednesday. The stock has a 50-day simple moving average of $110.37 and a two-hundred day simple moving average of $125.14. PulteGroup, Inc. has a 52-week low of $100.54 and a 52-week high of $149.47. 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 firm has a market capitalization of $21.55 billion, a PE ratio of 7.24, a P/E/G ratio of 0.29 and a beta of 1.68.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 earnings per share for the quarter, topping 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%. Analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup announced that its Board of Directors has authorized a stock repurchase 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 repurchase up to 6.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

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 paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date is Tuesday, March 18th. PulteGroup’s dividend payout ratio (DPR) is 5.98%.

Insider Transactions at PulteGroup

In other news, VP Brien P. O’meara sold 3,500 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $106.40, for a total value of $372,400.00. Following the completion of the transaction, the vice president now owns 11,372 shares of the company’s stock, valued at $1,209,980.80. This represents a 23.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Todd N. Sheldon sold 15,191 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was 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 in the company, valued at $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 valued at $2,256,367 over the last 90 days. Company insiders own 0.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. UBS Group boosted their price target on 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. cut their price objective on PulteGroup from $162.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, December 13th. Seaport Res Ptn lowered PulteGroup from a “hold” rating to a “strong sell” rating in a report on Monday, January 27th. Citigroup cut their price objective on PulteGroup from $146.00 to $119.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Finally, 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 report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, PulteGroup has a consensus rating of “Moderate Buy” and an average target price of $140.86.

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.