3Chopt Investment Partners LLC Boosts Stock Position in PulteGroup, Inc. (NYSE:PHM)

3Chopt Investment Partners LLC boosted its position in shares of PulteGroup, Inc. (NYSE:PHM) by 2.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 26,563 shares of the construction company’s stock after purchasing an additional 553 shares during the period. 3Chopt Investment Partners LLC’s holdings in PulteGroup were worth $2,899,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of research firms recently issued reports on PHM. Seaport Res Ptn upgraded PulteGroup from a “strong sell” rating to a “hold” rating in a report on Thursday, March 6th. 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 research note on Tuesday, December 17th. UBS Group upped their target price on shares of PulteGroup from $148.00 to $151.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Wedbush reiterated an “outperform” rating and issued a $135.00 price target on shares of PulteGroup in a research note on Friday, January 31st. Finally, Oppenheimer dropped their price objective on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday, January 31st. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, PulteGroup has an average rating of “Moderate Buy” and a consensus price target of $139.64.

Insider Buying and Selling at PulteGroup

In related news, VP Brien P. O’meara sold 3,500 shares of PulteGroup stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $106.40, for a total value of $372,400.00. Following 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction, the executive vice president now owns 74,758 shares of the company’s stock, valued at approximately $7,961,727. The trade was a 16.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,191 shares of company stock valued at $2,256,367 in the last ninety days. Insiders own 0.76% of the company’s stock.

PulteGroup Price Performance

PHM stock opened at $94.38 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $19.11 billion, a P/E ratio of 6.42, a PEG ratio of 0.29 and a beta of 1.44. The business has a 50 day simple moving average of $103.40 and a 200-day simple moving average of $117.89. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month high of $149.47.

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

PulteGroup Announces Dividend

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

PulteGroup declared that its Board of Directors has initiated a share repurchase 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 purchase up to 6.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

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.