Ieq Capital LLC Cuts Position in PulteGroup, Inc. (NYSE:PHM)

Ieq Capital LLC lowered its position in shares of PulteGroup, Inc. (NYSE:PHM) by 2.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 13,320 shares of the construction company’s stock after selling 282 shares during the quarter. Ieq Capital LLC’s holdings in PulteGroup were worth $1,451,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Global Retirement Partners LLC grew its stake in PulteGroup by 18.7% during the fourth quarter. Global Retirement Partners LLC now owns 3,242 shares of the construction company’s stock worth $353,000 after buying an additional 510 shares during the period. Kentucky Retirement Systems Insurance Trust Fund boosted its position in PulteGroup by 98.7% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 12,209 shares of the construction company’s stock worth $1,330,000 after purchasing an additional 6,065 shares during the period. Kestra Investment Management LLC increased its holdings in PulteGroup by 7.9% in the 4th quarter. Kestra Investment Management LLC now owns 1,923 shares of the construction company’s stock valued at $209,000 after purchasing an additional 141 shares in the last quarter. Atria Wealth Solutions Inc. increased its holdings in PulteGroup by 31.4% in the 4th quarter. Atria Wealth Solutions Inc. now owns 13,000 shares of the construction company’s stock valued at $1,417,000 after purchasing an additional 3,105 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its position in PulteGroup by 1.5% in the fourth quarter. Venturi Wealth Management LLC now owns 15,890 shares of the construction company’s stock valued at $1,730,000 after purchasing an additional 228 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Stock Performance

Shares of PHM opened at $101.64 on Tuesday. 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, Inc. has a 12-month low of $100.54 and a 12-month high of $149.47. The business’s fifty day moving average price is $110.56 and its 200 day moving average price is $125.25. The stock has a market capitalization of $20.58 billion, a PE ratio of 6.91, a price-to-earnings-growth ratio of 0.29 and a beta of 1.68.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.28 by $0.22. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. Equities research analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a yield of 0.87%. PulteGroup’s payout ratio is currently 5.98%.

PulteGroup announced that its Board of Directors has approved a stock repurchase plan on Thursday, January 30th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits 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 management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PHM shares. StockNews.com lowered PulteGroup from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Wells Fargo & Company lowered their price objective on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. UBS Group lifted their price objective on shares of PulteGroup from $148.00 to $151.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Bank of America decreased their target price on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating for the company in a research note on Monday, January 27th. Finally, Oppenheimer lowered their price target on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $140.86.

Insider Activity

In related news, EVP Todd N. Sheldon sold 15,191 shares of the company’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 transaction, the executive vice president now directly owns 74,758 shares in the company, valued at $7,961,727. This represents a 16.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brian P. Anderson sold 2,500 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $106.45, for a total value of $266,125.00. Following the completion of the sale, the director now directly owns 56,617 shares in the company, valued at $6,026,879.65. This represents a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,191 shares of company stock valued at $2,256,367. 0.75% of the stock is currently owned by insiders.

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.