HighPoint Advisor Group LLC Sells 829 Shares of PulteGroup, Inc. (NYSE:PHM)

HighPoint Advisor Group LLC cut its position in PulteGroup, Inc. (NYSE:PHM) by 17.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,050 shares of the construction company’s stock after selling 829 shares during the quarter. HighPoint Advisor Group LLC’s holdings in PulteGroup were worth $435,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Hager Investment Management Services LLC bought a new position in shares of PulteGroup during the 4th quarter worth approximately $29,000. Fortitude Family Office LLC increased its position in shares of 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 purchasing an additional 137 shares in the last quarter. R Squared Ltd purchased a new stake in shares of PulteGroup during the 4th quarter valued at $39,000. Thurston Springer Miller Herd & Titak Inc. boosted its position 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 worth $48,000 after purchasing an additional 131 shares in the last quarter. Finally, Oakworth Capital Inc. grew its stake in 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 buying an additional 411 shares during the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on PHM shares. Bank of America decreased their price target on PulteGroup from $135.00 to $134.00 and set a “buy” rating for the company in a research note on Monday, January 27th. Wells Fargo & Company lowered their target price on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. StockNews.com lowered shares of PulteGroup from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Citigroup lowered their price objective on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. cut their target price on PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a research report on Friday, December 13th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $140.86.

Insider Activity at PulteGroup

In other PulteGroup news, Director Brian P. Anderson sold 2,500 shares of the firm’s stock in a transaction that occurred on 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 trade represents a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Brien P. O’meara sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was 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 of the company’s stock, valued at approximately $1,209,980.80. The trade was a 23.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,191 shares of company stock worth $2,256,367 in the last 90 days. Corporate insiders own 0.76% of the company’s stock.

PulteGroup Trading Up 1.2 %

PulteGroup stock opened at $104.32 on Thursday. The firm has a market cap of $21.12 billion, a PE ratio of 7.09, a P/E/G ratio of 0.29 and a beta of 1.71. PulteGroup, Inc. has a 12 month low of $99.58 and a 12 month high of $149.47. The stock’s 50 day simple moving average is $106.79 and its two-hundred day simple moving average is $120.64. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share (EPS) 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%. Analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.84%. 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 has authorized 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 reacquire up to 6.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

About PulteGroup

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.