Concurrent Investment Advisors LLC Buys 760 Shares of PulteGroup, Inc. (NYSE:PHM)

Concurrent Investment Advisors LLC increased its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 21.0% in the fourth quarter, HoldingsChannel reports. The firm owned 4,381 shares of the construction company’s stock after buying an additional 760 shares during the period. Concurrent Investment Advisors LLC’s holdings in PulteGroup were worth $477,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of PHM. FMR LLC grew its holdings in PulteGroup by 102.3% during the third quarter. FMR LLC now owns 9,040,828 shares of the construction company’s stock worth $1,297,630,000 after purchasing an additional 4,571,757 shares during the period. Franklin Resources Inc. grew its holdings in PulteGroup by 5.5% during the third quarter. Franklin Resources Inc. now owns 11,254,274 shares of the construction company’s stock worth $1,647,364,000 after purchasing an additional 585,735 shares during the period. Westfield Capital Management Co. LP acquired a new stake in PulteGroup during the third quarter worth approximately $66,485,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in PulteGroup by 357.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 521,958 shares of the construction company’s stock worth $74,917,000 after acquiring an additional 407,764 shares during the last quarter. Finally, KBC Group NV lifted its position in PulteGroup by 1,020.0% during the third quarter. KBC Group NV now owns 435,925 shares of the construction company’s stock worth $62,568,000 after acquiring an additional 397,003 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.

Analysts Set New Price Targets

PHM has been the subject of several research reports. The Goldman Sachs Group cut their price objective on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Wells Fargo & Company cut their price objective on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. StockNews.com downgraded shares of PulteGroup from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Wedbush restated an “outperform” rating and set a $135.00 price objective on shares of PulteGroup in a research report on Friday, January 31st. Finally, Oppenheimer cut their price objective on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $140.86.

PulteGroup Stock Down 1.4 %

NYSE PHM opened at $101.64 on Tuesday. The business has a fifty day moving average price of $110.56 and a two-hundred day moving average price of $125.25. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. PulteGroup, Inc. has a fifty-two week low of $100.54 and a fifty-two week high of $149.47. The stock has a market capitalization of $20.58 billion, a PE ratio of 6.91, a PEG ratio of 0.29 and a beta of 1.68.

PulteGroup (NYSE:PHM) last released its earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.28 by $0.22. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. Equities analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Tuesday, March 18th. PulteGroup’s payout ratio is presently 5.98%.

PulteGroup declared that its Board of Directors has initiated a stock repurchase program 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 programs are usually a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other PulteGroup news, EVP Todd N. Sheldon sold 15,191 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was 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 directly owns 74,758 shares in the company, valued at $7,961,727. This represents a 16.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian P. Anderson sold 2,500 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $106.45, for a total transaction of $266,125.00. Following the transaction, the director now owns 56,617 shares of the company’s stock, valued at $6,026,879.65. This trade represents a 4.23 % 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 over the last three months. Insiders own 0.75% of the company’s stock.

PulteGroup Company 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.