PulteGroup, Inc. (NYSE:PHM) Shares Sold by Laird Norton Wetherby Wealth Management LLC

Laird Norton Wetherby Wealth Management LLC decreased its position in shares of PulteGroup, Inc. (NYSE:PHM) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,541 shares of the construction company’s stock after selling 185 shares during the quarter. Laird Norton Wetherby Wealth Management LLC’s holdings in PulteGroup were worth $495,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Czech National Bank lifted its holdings in PulteGroup by 5.2% in the fourth quarter. Czech National Bank now owns 44,466 shares of the construction company’s stock valued at $4,842,000 after acquiring an additional 2,192 shares during the period. Capital Investment Advisors LLC lifted its holdings in PulteGroup by 11.0% in the fourth quarter. Capital Investment Advisors LLC now owns 3,381 shares of the construction company’s stock valued at $368,000 after acquiring an additional 335 shares during the period. Wedmont Private Capital lifted its holdings in PulteGroup by 3.7% in the fourth quarter. Wedmont Private Capital now owns 3,050 shares of the construction company’s stock valued at $328,000 after acquiring an additional 110 shares during the period. Fifth Third Wealth Advisors LLC lifted its holdings in PulteGroup by 41.5% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 3,433 shares of the construction company’s stock valued at $374,000 after acquiring an additional 1,007 shares during the period. Finally, Park Avenue Securities LLC lifted its holdings in PulteGroup by 16.5% in the fourth quarter. Park Avenue Securities LLC now owns 37,734 shares of the construction company’s stock valued at $4,109,000 after acquiring an additional 5,332 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Stock Up 0.7%

Shares of PHM opened at $102.78 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a 50 day moving average price of $100.89 and a 200 day moving average price of $111.42. The stock has a market capitalization of $20.60 billion, a price-to-earnings ratio of 6.99, a PEG ratio of 0.29 and a beta of 1.37. PulteGroup, Inc. has a one year low of $88.07 and a one year high of $149.47.

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, topping analysts’ consensus estimates of $2.47 by $0.10. The business had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.86 billion. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. During the same period in the prior year, the business posted $3.10 EPS. Equities research analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup declared that its board has initiated a stock buyback program on Thursday, January 30th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the construction company to reacquire up to 6.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

PulteGroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 17th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Tuesday, June 17th. PulteGroup’s payout ratio is 6.21%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Bank of America decreased their price target on PulteGroup from $135.00 to $134.00 and set a “buy” rating for the company in a report on Monday, January 27th. Oppenheimer cut their price objective on PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a research report on Friday, January 31st. Wells Fargo & Company cut their price objective on PulteGroup from $140.00 to $120.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Evercore ISI boosted their price objective on PulteGroup from $161.00 to $165.00 and gave the company an “outperform” rating in a research report on Wednesday, April 23rd. Finally, Seaport Res Ptn upgraded PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, PulteGroup currently has an average rating of “Moderate Buy” and a consensus target price of $134.69.

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.