Family Management Corp Has $2.45 Million Stake in PulteGroup, Inc. (NYSE:PHM)

Family Management Corp trimmed its position in shares of PulteGroup, Inc. (NYSE:PHM) by 22.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 23,147 shares of the construction company’s stock after selling 6,619 shares during the period. Family Management Corp’s holdings in PulteGroup were worth $2,447,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PHM. GAMMA Investing LLC lifted its stake in shares of PulteGroup by 17.7% in the fourth quarter. GAMMA Investing LLC now owns 2,190 shares of the construction company’s stock worth $238,000 after acquiring an additional 329 shares during the period. Fortitude Family Office LLC raised its position in shares of PulteGroup by 74.1% in the 4th quarter. Fortitude Family Office LLC now owns 322 shares of the construction company’s stock worth $35,000 after acquiring an additional 137 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in PulteGroup by 3.2% in the fourth quarter. Harbor Capital Advisors Inc. now owns 4,559 shares of the construction company’s stock valued at $496,000 after buying an additional 143 shares during the period. Sugarloaf Wealth Management LLC boosted its stake in PulteGroup by 10.9% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 1,913 shares of the construction company’s stock worth $208,000 after acquiring an additional 188 shares in the last quarter. Finally, West Oak Capital LLC increased its position in PulteGroup by 1,876.5% in the 4th quarter. West Oak Capital LLC now owns 1,680 shares of the construction company’s stock valued at $183,000 after buying an additional 1,595 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

Insider Buying and Selling

In other news, EVP Todd N. Sheldon sold 15,191 shares of PulteGroup stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $106.50, for a total value 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. The trade was a 16.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Brien P. O’meara sold 3,500 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $106.40, for a total transaction of $372,400.00. Following the completion of the sale, the vice president now owns 11,372 shares of the company’s stock, valued at $1,209,980.80. This trade represents a 23.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,191 shares of company stock worth $2,256,367 in the last 90 days. Insiders own 0.76% of the company’s stock.

PulteGroup Trading Up 0.5 %

PHM opened at $101.35 on Thursday. PulteGroup, Inc. has a one year low of $88.07 and a one year high of $149.47. The stock has a market cap of $20.31 billion, a price-to-earnings ratio of 6.89, a P/E/G ratio of 0.29 and a beta of 1.37. The stock’s 50 day moving average price is $101.11 and its 200-day moving average price is $112.73. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, April 22nd. The construction company reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.10. The firm had revenue of $3.89 billion during the quarter, compared to analysts’ expectations 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 company earned $3.10 EPS. On average, equities analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current year.

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

PulteGroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Tuesday, June 17th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.88 dividend on an annualized basis and a yield of 0.87%. PulteGroup’s payout ratio is 6.21%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on PHM shares. UBS Group dropped their target price on PulteGroup from $151.00 to $141.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Wedbush restated an “outperform” rating and issued a $135.00 target price on shares of PulteGroup in a research note on Tuesday, April 22nd. Bank of America reduced their price objective 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. Barclays cut 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. Finally, Wells Fargo & Company decreased their price objective on shares of PulteGroup from $140.00 to $120.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, PulteGroup has a consensus rating of “Moderate Buy” and an average price target of $134.69.

About PulteGroup

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.