Rehmann Capital Advisory Group Acquires 1,192 Shares of PulteGroup, Inc. (NYSE:PHM)

Rehmann Capital Advisory Group increased its holdings in PulteGroup, Inc. (NYSE:PHM) by 43.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,908 shares of the construction company’s stock after purchasing an additional 1,192 shares during the quarter. Rehmann Capital Advisory Group’s holdings in PulteGroup were worth $426,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank acquired a new position in PulteGroup during the 4th quarter worth about $427,562,000. Amundi lifted its stake in shares of PulteGroup by 77.9% in the fourth quarter. Amundi now owns 1,636,562 shares of the construction company’s stock worth $180,775,000 after acquiring an additional 716,716 shares during the period. Franklin Resources Inc. boosted its holdings in PulteGroup by 6.1% in the fourth quarter. Franklin Resources Inc. now owns 11,937,866 shares of the construction company’s stock valued at $1,300,034,000 after acquiring an additional 683,592 shares during the last quarter. Bridgewater Associates LP increased its position in PulteGroup by 118.8% during the 4th quarter. Bridgewater Associates LP now owns 783,581 shares of the construction company’s stock valued at $85,332,000 after purchasing an additional 425,492 shares during the period. Finally, First Trust Advisors LP raised its holdings in PulteGroup by 45.6% during the 4th quarter. First Trust Advisors LP now owns 1,065,190 shares of the construction company’s stock worth $115,999,000 after purchasing an additional 333,361 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PHM has been the subject of several recent analyst reports. Barclays decreased their price objective on shares of PulteGroup from $100.00 to $98.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 23rd. Royal Bank of Canada decreased their price target on PulteGroup from $116.00 to $109.00 and set a “sector perform” rating for the company in a report on Wednesday, April 23rd. Seaport Res Ptn raised PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 6th. Oppenheimer decreased their target price on PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. Finally, Wells Fargo & Company dropped their price target on PulteGroup from $140.00 to $120.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.69.

Insider Activity at PulteGroup

In other PulteGroup news, Director Brian P. Anderson sold 2,500 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were 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 of the company’s stock, valued at approximately $6,026,879.65. This represents a 4.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Todd N. Sheldon sold 15,191 shares of the stock in a transaction dated 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 approximately $7,961,727. This trade represents a 16.89 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 21,191 shares of company stock valued at $2,256,367. 0.76% of the stock is owned by insiders.

PulteGroup Stock Up 2.6 %

PulteGroup stock opened at $104.51 on Friday. The firm has a market capitalization of $20.95 billion, a price-to-earnings ratio of 7.10, a price-to-earnings-growth ratio of 0.29 and a beta of 1.44. The firm’s fifty day moving average price is $101.20 and its two-hundred day moving average price is $113.66. PulteGroup, Inc. has a 1-year low of $88.07 and a 1-year high of $149.47. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, April 22nd. The construction company reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.10. The business had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.86 billion. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. During the same quarter in the previous year, the business earned $3.10 EPS. On average, equities research analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 17th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.88 annualized dividend and a yield of 0.84%. PulteGroup’s dividend payout ratio (DPR) is currently 6.21%.

PulteGroup announced that its Board of Directors has approved a share buyback plan on Thursday, January 30th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to repurchase up to 6.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management 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.