QS Investors LLC reduced its position in shares of PulteGroup, Inc. (NYSE:PHM) by 8.6% during the 4th quarter, Holdings Channel reports. The firm owned 177,672 shares of the construction company’s stock after selling 16,630 shares during the quarter. QS Investors LLC’s holdings in PulteGroup were worth $5,908,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in PHM. Focused Wealth Management Inc bought a new stake in shares of PulteGroup during the fourth quarter worth about $113,000. Invictus RG grew its holdings in shares of PulteGroup by 1,473.4% during the third quarter. Invictus RG now owns 4,264 shares of the construction company’s stock worth $117,000 after purchasing an additional 3,993 shares during the last quarter. SeaCrest Wealth Management LLC bought a new stake in shares of PulteGroup during the fourth quarter worth about $119,000. National Pension Service bought a new stake in shares of PulteGroup during the fourth quarter worth about $138,000. Finally, Fieldpoint Private Securities LLC bought a new stake in shares of PulteGroup during the third quarter worth about $150,000. Institutional investors own 85.54% of the company’s stock.
In other PulteGroup news, Director Patrick J. Oleary sold 8,677 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $30.03, for a total value of $260,570.31. Following the transaction, the director now directly owns 90,687 shares of the company’s stock, valued at $2,723,330.61. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.71% of the company’s stock.
PulteGroup (NYSE:PHM) last announced its earnings results on Tuesday, January 30th. The construction company reported $0.85 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.85. PulteGroup had a return on equity of 15.52% and a net margin of 5.22%. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.82 billion. During the same period in the prior year, the business posted $0.67 earnings per share. The firm’s revenue was up 12.1% on a year-over-year basis. equities analysts expect that PulteGroup, Inc. will post 3.11 EPS for the current fiscal year.
PulteGroup declared that its Board of Directors has initiated a stock buyback plan on Tuesday, January 30th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the construction company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 3rd. Investors of record on Friday, March 16th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Thursday, March 15th. PulteGroup’s payout ratio is presently 25.00%.
Several analysts have recently weighed in on PHM shares. Credit Suisse Group restated an “outperform” rating and set a $38.00 price target (up from $32.00) on shares of PulteGroup in a report on Monday, January 22nd. They noted that the move was a valuation call. Zacks Investment Research upgraded PulteGroup from a “sell” rating to a “hold” rating and set a $40.00 price target on the stock in a report on Thursday, January 4th. UBS Group boosted their price target on PulteGroup from $38.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. B. Riley cut PulteGroup from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $31.00 to $36.00 in a report on Wednesday, January 3rd. Finally, ValuEngine upgraded PulteGroup from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $32.85.
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PulteGroup, Inc is a homebuilder in the United States. The Company’s segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land.
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