FourThought Financial Partners LLC Trims Holdings in PulteGroup, Inc. (NYSE:PHM)

FourThought Financial Partners LLC trimmed its position in PulteGroup, Inc. (NYSE:PHM) by 28.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,990 shares of the construction company’s stock after selling 778 shares during the quarter. FourThought Financial Partners LLC’s holdings in PulteGroup were worth $205,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Baystate Wealth Management LLC increased its holdings in PulteGroup by 186.5% in the 3rd quarter. Baystate Wealth Management LLC now owns 490 shares of the construction company’s stock worth $36,000 after acquiring an additional 319 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new position in PulteGroup in the 3rd quarter worth approximately $36,000. Rakuten Securities Inc. bought a new position in PulteGroup in the 4th quarter worth approximately $37,000. Lindbrook Capital LLC boosted its stake in PulteGroup by 335.6% in the 4th quarter. Lindbrook Capital LLC now owns 379 shares of the construction company’s stock worth $39,000 after purchasing an additional 292 shares during the period. Finally, ORG Partners LLC boosted its stake in PulteGroup by 3,463.6% in the 4th quarter. ORG Partners LLC now owns 392 shares of the construction company’s stock worth $40,000 after purchasing an additional 381 shares during the period. 89.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Brien P. O’meara sold 2,000 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $103.09, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.75% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Raymond James restated an “outperform” rating and issued a $135.00 price target (up from $120.00) on shares of PulteGroup in a research note on Thursday, April 25th. Zelman & Associates upgraded PulteGroup from a “neutral” rating to an “outperform” rating in a research report on Wednesday, April 24th. Citigroup increased their target price on PulteGroup from $116.00 to $127.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Barclays increased their target price on PulteGroup from $126.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Finally, Oppenheimer increased their target price on PulteGroup from $138.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, PulteGroup currently has an average rating of “Moderate Buy” and an average price target of $111.73.

PulteGroup Stock Up 1.0 %

Shares of PulteGroup stock traded up $1.16 during trading on Monday, hitting $117.80. 490,103 shares of the stock traded hands, compared to its average volume of 1,795,515. The firm has a market cap of $24.78 billion, a P/E ratio of 9.34, a price-to-earnings-growth ratio of 0.52 and a beta of 1.56. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18. PulteGroup, Inc. has a 52-week low of $65.16 and a 52-week high of $121.07. The stock’s fifty day simple moving average is $112.28 and its 200 day simple moving average is $101.21.

PulteGroup announced that its Board of Directors has authorized a share repurchase plan on Tuesday, January 30th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to buy up to 6.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors 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.