Muhlenkamp & Co. Inc. Boosts Stake in PulteGroup, Inc. (NYSE:PHM)

Muhlenkamp & Co. Inc. increased its stake in PulteGroup, Inc. (NYSE:PHM) by 0.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 98,071 shares of the construction company’s stock after acquiring an additional 248 shares during the period. PulteGroup comprises approximately 3.2% of Muhlenkamp & Co. Inc.’s portfolio, making the stock its 18th largest position. Muhlenkamp & Co. Inc.’s holdings in PulteGroup were worth $10,680,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in PHM. Richardson Financial Services Inc. increased its position in shares of PulteGroup by 16.7% during the 4th quarter. Richardson Financial Services Inc. now owns 622 shares of the construction company’s stock valued at $68,000 after purchasing an additional 89 shares during the last quarter. Premier Path Wealth Partners LLC raised its stake in shares of PulteGroup by 3.8% during the fourth quarter. Premier Path Wealth Partners LLC now owns 2,572 shares of the construction company’s stock worth $280,000 after acquiring an additional 95 shares in the last quarter. Meridian Wealth Management LLC raised its stake in shares of PulteGroup by 0.7% during the fourth quarter. Meridian Wealth Management LLC now owns 13,224 shares of the construction company’s stock worth $1,440,000 after acquiring an additional 95 shares in the last quarter. Fidelis Capital Partners LLC lifted its holdings in shares of PulteGroup by 2.4% in the 4th quarter. Fidelis Capital Partners LLC now owns 4,384 shares of the construction company’s stock worth $479,000 after acquiring an additional 103 shares during the last quarter. Finally, Wedmont Private Capital boosted its stake in shares of PulteGroup by 3.7% in the 4th quarter. Wedmont Private Capital now owns 3,050 shares of the construction company’s stock valued at $328,000 after purchasing an additional 110 shares in the last quarter. Institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Down 5.1 %

Shares of PulteGroup stock opened at $96.03 on Tuesday. PulteGroup, Inc. has a 1 year low of $95.14 and a 1 year high of $149.47. The firm has a market cap of $19.44 billion, a price-to-earnings ratio of 6.53, a PEG ratio of 0.29 and a beta of 1.44. The company has a 50-day moving average of $105.68 and a 200 day moving average of $119.58. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.28 by $0.22. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. As a group, sell-side analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend was Tuesday, March 18th. PulteGroup’s dividend payout ratio (DPR) is 5.98%.

PulteGroup declared that its Board of Directors has authorized a share buyback program on Thursday, January 30th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to reacquire up to 6.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

PHM has been the subject of several analyst reports. The Goldman Sachs Group cut their price target on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Bank of America lowered their target price on PulteGroup from $135.00 to $134.00 and set a “buy” rating for the company in a research note on Monday, January 27th. Barclays reduced their price target 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. Wells Fargo & Company lowered 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, Oppenheimer dropped their price objective on PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, PulteGroup presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.86.

Insider Buying and Selling 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 completion of the sale, the executive vice president now owns 74,758 shares of the company’s stock, valued at $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 at the SEC website. Also, 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 value 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 trade represents a 23.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,191 shares of company stock worth $2,256,367. 0.76% of the stock is 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.