MGO One Seven LLC Trims Holdings in PulteGroup, Inc. (NYSE:PHM)

MGO One Seven LLC decreased its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 5.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,470 shares of the construction company’s stock after selling 394 shares during the period. MGO One Seven LLC’s holdings in PulteGroup were worth $705,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PHM. Hager Investment Management Services LLC bought a new position in shares of PulteGroup during the fourth quarter valued at approximately $29,000. Fortitude Family Office LLC increased its position in PulteGroup by 74.1% during the 4th 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. TD Waterhouse Canada Inc. increased its position in PulteGroup by 43.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company’s stock valued at $38,000 after purchasing an additional 105 shares during the period. R Squared Ltd bought a new position in PulteGroup in the 4th quarter worth $39,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of PulteGroup by 41.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 444 shares of the construction company’s stock worth $48,000 after purchasing an additional 131 shares during the period. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Performance

Shares of PulteGroup stock opened at $101.98 on Friday. PulteGroup, Inc. has a 1 year low of $88.07 and a 1 year high of $149.47. The firm’s 50-day moving average is $101.37 and its 200 day moving average is $114.81. The stock has a market cap of $20.65 billion, a price-to-earnings ratio of 6.93, a PEG ratio of 0.29 and a beta of 1.44. 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 issued its earnings results on Tuesday, April 22nd. The construction company reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.10. The firm had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.86 billion. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. During the same quarter in the prior year, the firm posted $3.10 earnings per share. Sell-side analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

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

PulteGroup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th were paid a dividend of $0.22 per share. The ex-dividend date was Tuesday, March 18th. This represents a $0.88 annualized dividend and a yield of 0.86%. PulteGroup’s dividend payout ratio is 6.21%.

Insiders Place Their Bets

In related news, EVP Todd N. Sheldon sold 15,191 shares of the 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 sale, the executive vice president now directly 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Brien P. O’meara sold 3,500 shares of the business’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 directly owns 11,372 shares of the company’s stock, valued at approximately $1,209,980.80. This trade represents a 23.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,191 shares of company stock valued at $2,256,367. Corporate insiders own 0.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Citigroup decreased their price target 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. The Goldman Sachs Group decreased their target price on PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Evercore ISI raised their target price on PulteGroup from $161.00 to $165.00 and gave the company an “outperform” rating in a research note on Wednesday. Wedbush reaffirmed an “outperform” rating and issued a $135.00 price target on shares of PulteGroup in a research note on Tuesday, April 22nd. Finally, Oppenheimer lowered their price objective on PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a research report on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.69.

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.