Ethic Inc. Has $4.45 Million Position in PulteGroup, Inc. (NYSE:PHM)

Ethic Inc. lowered its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 14.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,881 shares of the construction company’s stock after selling 6,742 shares during the quarter. Ethic Inc.’s holdings in PulteGroup were worth $4,452,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PHM. Fortitude Family Office LLC raised its holdings in PulteGroup by 74.1% in the 4th 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 period. Harbor Capital Advisors Inc. increased its stake in shares of PulteGroup by 3.2% in the fourth quarter. Harbor Capital Advisors Inc. now owns 4,559 shares of the construction company’s stock worth $496,000 after purchasing an additional 143 shares during the period. Czech National Bank boosted its stake in PulteGroup by 5.2% during the 4th quarter. Czech National Bank now owns 44,466 shares of the construction company’s stock valued at $4,842,000 after purchasing an additional 2,192 shares during the period. Fiduciary Alliance LLC acquired a new stake in PulteGroup in the 4th quarter valued at approximately $450,000. Finally, Capital Investment Advisors LLC grew its holdings in PulteGroup by 11.0% in the 4th quarter. Capital Investment Advisors LLC now owns 3,381 shares of the construction company’s stock valued at $368,000 after buying an additional 335 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

Insider Activity

In other PulteGroup news, Director Brian P. Anderson sold 2,500 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $106.45, for a total transaction of $266,125.00. Following the transaction, the director now directly owns 56,617 shares in the company, valued at approximately $6,026,879.65. This represents a 4.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Brien P. O’meara sold 3,500 shares of the firm’s stock in a transaction dated 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 directly owns 11,372 shares in the company, valued at $1,209,980.80. This trade represents a 23.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,191 shares of company stock valued at $2,256,367 over the last 90 days. 0.76% of the stock is owned by company insiders.

PulteGroup Stock Down 0.8 %

Shares of NYSE:PHM opened at $102.57 on Friday. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $149.47. The firm has a market cap of $20.56 billion, a P/E ratio of 6.97, a P/E/G ratio of 0.29 and a beta of 1.37. 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 company’s 50-day moving average price is $101.13 and its two-hundred day moving average price is $112.09.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, April 22nd. The construction company reported $2.57 EPS for the quarter, beating the consensus estimate of $2.47 by $0.10. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. The business had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.86 billion. During the same period in the prior year, the firm earned $3.10 earnings per share. As a group, research analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup announced that its board has approved a share repurchase plan on Thursday, January 30th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the construction company to buy up to 6.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

PulteGroup Dividend Announcement

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

Analyst Ratings Changes

Several research firms recently commented on PHM. Wells Fargo & Company cut their target price on shares of PulteGroup from $140.00 to $120.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Wedbush reissued an “outperform” rating and set a $135.00 target price on shares of PulteGroup in a research report on Tuesday, April 22nd. Royal Bank of Canada cut their price target on PulteGroup from $116.00 to $109.00 and set a “sector perform” rating for the company in a report on Wednesday, April 23rd. Bank of America decreased their price objective on PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a report on Monday, January 27th. Finally, Seaport Res Ptn raised PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 6th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, PulteGroup currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.69.

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.