Sterling Capital Management LLC Reduces Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Sterling Capital Management LLC cut its position in shares of PulteGroup, Inc. (NYSE:PHM) by 58.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,617 shares of the construction company’s stock after selling 26,077 shares during the period. Sterling Capital Management LLC’s holdings in PulteGroup were worth $2,027,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of PHM. Hager Investment Management Services LLC purchased a new stake in shares of PulteGroup during the 4th quarter valued at approximately $29,000. Fortitude Family Office LLC increased its stake in PulteGroup by 74.1% during the fourth quarter. Fortitude Family Office LLC now owns 322 shares of the construction company’s stock worth $35,000 after acquiring an additional 137 shares during the last quarter. R Squared Ltd purchased a new stake in PulteGroup in the fourth quarter valued at $39,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of PulteGroup by 41.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 444 shares of the construction company’s stock valued at $48,000 after purchasing an additional 131 shares during the last quarter. Finally, Oakworth Capital Inc. grew its holdings in shares of PulteGroup by 642.2% during the 4th quarter. Oakworth Capital Inc. now owns 475 shares of the construction company’s stock worth $52,000 after purchasing an additional 411 shares during the period. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PHM shares. UBS Group boosted their price objective on shares of PulteGroup from $148.00 to $151.00 and gave the company a “buy” rating in a report on Friday, January 31st. Bank of America decreased their price objective on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a report on Monday, January 27th. Wells Fargo & Company dropped their target price on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Wedbush restated an “outperform” rating and set a $135.00 price target on shares of PulteGroup in a research note on Friday, January 31st. Finally, Citigroup dropped their price objective on PulteGroup from $146.00 to $119.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $139.64.

PulteGroup Stock Performance

Shares of PulteGroup stock opened at $94.38 on Monday. The business has a 50-day simple moving average of $103.40 and a 200-day simple moving average of $117.74. 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, Inc. has a one year low of $88.07 and a one year high of $149.47. The company has a market cap of $19.11 billion, a PE ratio of 6.42, a P/E/G ratio of 0.29 and a beta of 1.44.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, beating analysts’ consensus estimates of $3.28 by $0.22. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. On average, equities research analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend was Tuesday, March 18th. PulteGroup’s dividend payout ratio is presently 5.98%.

PulteGroup announced that its board has authorized a stock buyback plan on Thursday, January 30th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the construction company to repurchase up to 6.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Insider Transactions at PulteGroup

In related news, Director Brian P. Anderson sold 2,500 shares of PulteGroup stock in a transaction on Monday, February 10th. The shares were sold at an average price of $106.45, for a total transaction of $266,125.00. Following the sale, the director now directly owns 56,617 shares in the company, valued at $6,026,879.65. This trade represents a 4.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brien P. O’meara sold 3,500 shares of the company’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 completion of the transaction, the vice president now owns 11,372 shares of the company’s stock, valued at $1,209,980.80. This represents a 23.53 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,191 shares of company stock valued at $2,256,367. 0.76% of the stock is currently owned by corporate insiders.

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.