1900 Wealth Management LLC Lowers Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

1900 Wealth Management LLC lessened its holdings in PulteGroup, Inc. (NYSE:PHM) by 7.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 11,360 shares of the construction company’s stock after selling 886 shares during the quarter. 1900 Wealth Management LLC’s holdings in PulteGroup were worth $1,173,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Greenhaven Associates Inc. raised its position in shares of PulteGroup by 0.4% during the 4th quarter. Greenhaven Associates Inc. now owns 5,726,368 shares of the construction company’s stock worth $591,076,000 after purchasing an additional 24,350 shares during the last quarter. FMR LLC lifted its stake in shares of PulteGroup by 1.8% during the 3rd quarter. FMR LLC now owns 5,484,469 shares of the construction company’s stock worth $406,125,000 after purchasing an additional 95,945 shares during the period. Invesco Ltd. lifted its stake in shares of PulteGroup by 13.3% during the 3rd quarter. Invesco Ltd. now owns 4,432,965 shares of the construction company’s stock worth $328,261,000 after purchasing an additional 522,032 shares during the period. Morgan Stanley lifted its stake in shares of PulteGroup by 2.0% during the 3rd quarter. Morgan Stanley now owns 3,115,877 shares of the construction company’s stock worth $230,731,000 after purchasing an additional 61,953 shares during the period. Finally, Pacer Advisors Inc. lifted its stake in shares of PulteGroup by 54.6% during the 4th quarter. Pacer Advisors Inc. now owns 3,003,713 shares of the construction company’s stock worth $310,043,000 after purchasing an additional 1,060,466 shares during the period. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Insiders Place Their Bets

In other PulteGroup news, VP Brien P. O’meara sold 2,000 shares of PulteGroup stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total value of $206,180.00. Following the transaction, the vice president now owns 15,389 shares in the company, valued at $1,586,452.01. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.75% of the stock is currently owned by company insiders.

PulteGroup Price Performance

Shares of NYSE PHM traded up $3.79 during mid-day trading on Tuesday, reaching $111.62. 1,660,510 shares of the company traded hands, compared to its average volume of 1,800,052. PulteGroup, Inc. has a fifty-two week low of $62.35 and a fifty-two week high of $121.07. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market cap of $23.55 billion, a PE ratio of 9.12, a price-to-earnings-growth ratio of 0.51 and a beta of 1.56. The stock has a fifty day simple moving average of $110.51 and a 200-day simple moving average of $98.67.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, January 30th. The construction company reported $3.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.21 by $0.07. The firm had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.47 billion. PulteGroup had a net margin of 16.20% and a return on equity of 25.97%. The firm’s quarterly revenue was down 15.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.63 earnings per share. Equities research analysts anticipate that PulteGroup, Inc. will post 11.79 EPS for the current fiscal year.

PulteGroup declared that its board has approved a share repurchase program on Tuesday, January 30th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the construction company to reacquire up to 6.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

PulteGroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Friday, March 15th were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.80 annualized dividend and a yield of 0.72%. PulteGroup’s dividend payout ratio (DPR) is 6.81%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PHM shares. Citigroup increased their price target on PulteGroup from $116.00 to $127.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Royal Bank of Canada increased their price target on PulteGroup from $103.00 to $106.00 and gave the company a “sector perform” rating in a report on Wednesday, January 31st. Barclays increased their price target on PulteGroup from $126.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Wedbush restated a “neutral” rating and set a $85.00 target price on shares of PulteGroup in a research note on Wednesday, January 31st. Finally, UBS Group downgraded PulteGroup from a “buy” rating to a “neutral” rating and raised their target price for the company from $93.00 to $120.00 in a research note on Thursday, January 4th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $106.47.

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.