PulteGroup, Inc. (NYSE:PHM) Shares Sold by Synovus Financial Corp

Synovus Financial Corp lowered its holdings in PulteGroup, Inc. (NYSE:PHM) by 3.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,219 shares of the construction company’s stock after selling 349 shares during the period. Synovus Financial Corp’s holdings in PulteGroup were worth $1,222,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Morse Asset Management Inc increased its holdings in shares of PulteGroup by 26.2% in the third quarter. Morse Asset Management Inc now owns 9,735 shares of the construction company’s stock valued at $1,397,000 after buying an additional 2,020 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of PulteGroup by 0.7% in the 3rd quarter. Wellington Management Group LLP now owns 35,191 shares of the construction company’s stock valued at $5,051,000 after purchasing an additional 258 shares during the period. Aldebaran Financial Inc. increased its stake in PulteGroup by 99.1% in the 3rd quarter. Aldebaran Financial Inc. now owns 5,365 shares of the construction company’s stock worth $770,000 after purchasing an additional 2,670 shares in the last quarter. Pine Valley Investments Ltd Liability Co acquired a new stake in PulteGroup during the 3rd quarter worth about $234,000. Finally, World Investment Advisors LLC lifted its stake in PulteGroup by 21.8% during the third quarter. World Investment Advisors LLC now owns 9,515 shares of the construction company’s stock valued at $1,366,000 after buying an additional 1,706 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Stock Down 0.7 %

Shares of PHM opened at $94.81 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market capitalization of $19.20 billion, a P/E ratio of 6.45, a PEG ratio of 0.29 and a beta of 1.44. The business’s 50 day simple moving average is $102.77 and its 200-day simple moving average is $117.25. PulteGroup, Inc. has a one year low of $88.07 and a one year high of $149.47.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.28 by $0.22. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. As a group, sell-side analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Announces Dividend

The business 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. The ex-dividend date was Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.93%. PulteGroup’s payout ratio is 5.98%.

PulteGroup announced that its Board of Directors has approved a stock repurchase program on Thursday, January 30th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to buy up to 6.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

PHM has been the topic of several analyst reports. UBS Group lifted their target price on shares of PulteGroup from $148.00 to $151.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. The Goldman Sachs Group decreased their target price on PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Wells Fargo & Company dropped their price target on PulteGroup from $140.00 to $120.00 and set an “overweight” rating on the stock in a research report on Monday. Seaport Res Ptn upgraded shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 6th. Finally, Oppenheimer lowered their price target on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $138.21.

Insider Activity at PulteGroup

In other news, 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 $7,961,727. This represents a 16.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Brian P. Anderson sold 2,500 shares of PulteGroup stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $106.45, for a total value of $266,125.00. Following the completion of the sale, the director now owns 56,617 shares of the company’s stock, valued at approximately $6,026,879.65. The trade was a 4.23 % 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 valued at $2,256,367 over the last quarter. Corporate insiders own 0.76% of the company’s stock.

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.