Logan Capital Management Inc. Sells 2,007 Shares of PulteGroup, Inc. (NYSE:PHM)

Logan Capital Management Inc. lowered its holdings in PulteGroup, Inc. (NYSE:PHM) by 13.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,790 shares of the construction company’s stock after selling 2,007 shares during the period. Logan Capital Management Inc.’s holdings in PulteGroup were worth $1,393,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Hager Investment Management Services LLC purchased a new stake in PulteGroup in the fourth quarter valued at approximately $29,000. TD Waterhouse Canada Inc. raised its position in shares of 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 buying an additional 105 shares in the last quarter. R Squared Ltd bought a new stake in shares of PulteGroup during the 4th quarter worth $39,000. Quarry LP purchased a new position in PulteGroup in the fourth quarter worth $43,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in PulteGroup by 41.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 444 shares of the construction company’s stock valued at $48,000 after acquiring an additional 131 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PHM. Oppenheimer dropped their price target on PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. Wells Fargo & Company reduced their price target 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. Royal Bank of Canada cut their price objective on shares of PulteGroup from $116.00 to $109.00 and set a “sector perform” rating for the company in a research note on Wednesday, April 23rd. Bank of America decreased their target price on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. Finally, Wedbush restated an “outperform” rating and set a $135.00 price target on shares of PulteGroup in a research report on Tuesday, April 22nd. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, PulteGroup presently has a consensus rating of “Moderate Buy” and an average price target of $134.69.

Insider Transactions at PulteGroup

In other news, EVP Todd N. Sheldon sold 15,191 shares of the company’s 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 $7,961,727. This represents a 16.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Brien P. O’meara sold 3,500 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $106.40, for a total transaction of $372,400.00. Following the sale, the vice president now directly owns 11,372 shares of the company’s stock, valued at approximately $1,209,980.80. The trade was a 23.53% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.76% of the company’s stock.

PulteGroup Trading Up 4.0%

PHM opened at $106.53 on Tuesday. PulteGroup, Inc. has a one year low of $88.07 and a one year high of $149.47. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. The business has a 50 day simple moving average of $101.14 and a two-hundred day simple moving average of $111.74. The firm has a market capitalization of $21.35 billion, a price-to-earnings ratio of 7.24, a PEG ratio of 0.29 and a beta of 1.37.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, April 22nd. The construction company reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.10. The business had revenue of $3.89 billion for 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 previous year, the business posted $3.10 earnings per share. Analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 17th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.88 annualized dividend and a dividend yield of 0.83%. PulteGroup’s payout ratio is 6.21%.

PulteGroup declared that its Board of Directors has initiated a share buyback plan on Thursday, January 30th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the construction company to purchase up to 6.2% of its stock through open market purchases. Stock buyback plans are often an indication 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.