3,024 Shares in PulteGroup, Inc. (NYSE:PHM) Purchased by SVB Wealth LLC

SVB Wealth LLC bought a new stake in shares of PulteGroup, Inc. (NYSE:PHM) in the 4th quarter, Holdings Channel reports. The firm bought 3,024 shares of the construction company’s stock, valued at approximately $329,000.

Other hedge funds have also recently modified their holdings of the company. Ashton Thomas Private Wealth LLC boosted its holdings in PulteGroup by 3.0% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 3,054 shares of the construction company’s stock valued at $438,000 after acquiring an additional 88 shares during the period. Richardson Financial Services Inc. boosted its stake in shares of PulteGroup by 16.7% during the fourth quarter. Richardson Financial Services Inc. now owns 622 shares of the construction company’s stock valued at $68,000 after purchasing an additional 89 shares during the period. Premier Path Wealth Partners LLC grew its holdings in shares of PulteGroup by 3.8% in the fourth quarter. Premier Path Wealth Partners LLC now owns 2,572 shares of the construction company’s stock worth $280,000 after purchasing an additional 95 shares during the last quarter. Verdence Capital Advisors LLC grew its holdings in shares of PulteGroup by 2.8% in the third quarter. Verdence Capital Advisors LLC now owns 3,598 shares of the construction company’s stock worth $516,000 after purchasing an additional 97 shares during the last quarter. Finally, Community Bank & Trust Waco Texas increased its stake in PulteGroup by 2.7% in the 3rd quarter. Community Bank & Trust Waco Texas now owns 3,843 shares of the construction company’s stock worth $552,000 after buying an additional 102 shares during the period. Institutional investors own 89.90% of the company’s stock.

Analyst Ratings Changes

PHM has been the topic of a number of research analyst reports. Bank of America dropped their target price on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. Wedbush reissued an “outperform” rating and issued a $135.00 price objective on shares of PulteGroup in a research note on Friday, January 31st. StockNews.com lowered PulteGroup from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. UBS Group increased their price target on PulteGroup from $148.00 to $151.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Finally, Wells Fargo & Company decreased their price objective on PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $140.86.

PulteGroup Trading Up 3.2 %

NYSE:PHM opened at $106.15 on Thursday. The stock has a market capitalization of $21.49 billion, a price-to-earnings ratio of 7.22, a PEG ratio of 0.29 and a beta of 1.71. PulteGroup, Inc. has a 52 week low of $100.54 and a 52 week high of $149.47. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average of $109.56 and a 200 day moving average of $124.32.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, beating 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%. As a group, sell-side analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Tuesday, March 18th. PulteGroup’s payout ratio is currently 5.98%.

PulteGroup announced that its board has approved a share 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 reacquire up to 6.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, EVP Todd N. Sheldon sold 15,191 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 74,758 shares in the company, valued at $7,961,727. This trade represents a 16.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Brian P. Anderson sold 2,500 shares of PulteGroup stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $106.45, for a total value of $266,125.00. Following 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 disclosure for this sale can be found here. Insiders sold 21,191 shares of company stock worth $2,256,367 in the last three months. Corporate insiders own 0.75% of the company’s stock.

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.