Metis Global Partners LLC Sells 955 Shares of PulteGroup, Inc. (NYSE:PHM)

Metis Global Partners LLC trimmed its holdings in PulteGroup, Inc. (NYSE:PHM) by 7.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,359 shares of the construction company’s stock after selling 955 shares during the quarter. Metis Global Partners LLC’s holdings in PulteGroup were worth $1,172,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of PHM. First Horizon Advisors Inc. increased its holdings in shares of PulteGroup by 2.9% during the 4th quarter. First Horizon Advisors Inc. now owns 3,594 shares of the construction company’s stock worth $371,000 after purchasing an additional 100 shares during the period. Aprio Wealth Management LLC raised its holdings in PulteGroup by 3.1% in the 4th quarter. Aprio Wealth Management LLC now owns 3,583 shares of the construction company’s stock valued at $370,000 after acquiring an additional 107 shares in the last quarter. KMG Fiduciary Partners LLC raised its holdings in PulteGroup by 4.1% in the 4th quarter. KMG Fiduciary Partners LLC now owns 3,102 shares of the construction company’s stock valued at $320,000 after acquiring an additional 121 shares in the last quarter. DNB Asset Management AS lifted its position in shares of PulteGroup by 0.3% in the 4th quarter. DNB Asset Management AS now owns 43,391 shares of the construction company’s stock worth $4,479,000 after acquiring an additional 123 shares during the period. Finally, Cascade Investment Advisors Inc. grew its holdings in shares of PulteGroup by 1.6% during the 4th quarter. Cascade Investment Advisors Inc. now owns 8,165 shares of the construction company’s stock worth $843,000 after purchasing an additional 125 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Stock Down 1.0 %

NYSE PHM opened at $115.81 on Thursday. The stock has a market capitalization of $24.36 billion, a P/E ratio of 9.27, a price-to-earnings-growth ratio of 0.52 and a beta of 1.56. PulteGroup, Inc. has a 52 week low of $65.16 and a 52 week high of $121.07. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a fifty day moving average of $112.90 and a 200-day moving average of $101.97.

PulteGroup declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, January 30th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the construction company to buy up to 6.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

PulteGroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 18th will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, June 18th. This represents a $0.80 annualized dividend and a yield of 0.69%. PulteGroup’s dividend payout ratio is currently 6.41%.

Analysts Set New Price Targets

PHM has been the topic of several analyst reports. Raymond James reissued an “outperform” rating and issued a $135.00 price target (up previously from $120.00) on shares of PulteGroup in a report on Thursday, April 25th. Zelman & Associates raised shares of PulteGroup from a “neutral” rating to an “outperform” rating in a research report on Wednesday, April 24th. Jefferies Financial Group lifted their price objective on PulteGroup from $126.00 to $131.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Royal Bank of Canada increased their target price on PulteGroup from $106.00 to $113.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 24th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $85.00 price target on shares of PulteGroup in a research note on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $111.73.

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.