First Trust Advisors LP Raises Stake in PulteGroup, Inc. (NYSE:PHM)

First Trust Advisors LP increased its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 45.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,065,190 shares of the construction company’s stock after buying an additional 333,361 shares during the quarter. First Trust Advisors LP’s holdings in PulteGroup were worth $115,999,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Hager Investment Management Services LLC purchased a new stake in shares of PulteGroup during the 4th quarter worth approximately $29,000. Fortitude Family Office LLC grew its holdings in PulteGroup by 74.1% during the fourth quarter. Fortitude Family Office LLC now owns 322 shares of the construction company’s stock valued at $35,000 after purchasing an additional 137 shares during the period. R Squared Ltd bought a new position in PulteGroup during the fourth quarter valued at $39,000. Thurston Springer Miller Herd & Titak Inc. increased its position in PulteGroup by 41.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 444 shares of the construction company’s stock worth $48,000 after buying an additional 131 shares during the last quarter. Finally, Oakworth Capital Inc. raised its stake in shares of PulteGroup by 642.2% in the fourth quarter. Oakworth Capital Inc. now owns 475 shares of the construction company’s stock valued at $52,000 after buying an additional 411 shares during the period. Institutional investors own 89.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group decreased their price objective on PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Citigroup reduced their target price 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. Seaport Res Ptn upgraded shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 6th. Oppenheimer reduced their price objective on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. Finally, UBS Group boosted their target price on shares of PulteGroup from $148.00 to $151.00 and gave the company a “buy” rating in a report on Friday, January 31st. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.21.

Insider Buying and Selling at PulteGroup

In related news, Director Brian P. Anderson sold 2,500 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $106.45, for a total transaction of $266,125.00. Following the transaction, the director now owns 56,617 shares of the company’s stock, valued at approximately $6,026,879.65. This trade represents a 4.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Todd N. Sheldon sold 15,191 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 74,758 shares of the company’s stock, 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 have sold 21,191 shares of company stock worth $2,256,367 over the last ninety days. Insiders own 0.76% of the company’s stock.

PulteGroup Stock Performance

PulteGroup stock opened at $94.87 on Monday. PulteGroup, Inc. has a fifty-two week low of $88.07 and a fifty-two 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 stock has a market cap of $19.21 billion, a P/E ratio of 6.45, a price-to-earnings-growth ratio of 0.29 and a beta of 1.44. The firm’s fifty day moving average price is $102.04 and its 200-day moving average price is $116.03.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share for the quarter, beating 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%. On average, equities research analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.93%. The ex-dividend date was Tuesday, March 18th. PulteGroup’s dividend payout ratio is currently 5.98%.

PulteGroup announced that its Board of Directors has authorized a stock buyback plan on Thursday, January 30th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the construction company to reacquire up to 6.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

PulteGroup 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.