Corient Private Wealth LLC Sells 2,476 Shares of PulteGroup, Inc. (NYSE:PHM)

Corient Private Wealth LLC decreased its position in PulteGroup, Inc. (NYSE:PHM) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 125,196 shares of the construction company’s stock after selling 2,476 shares during the quarter. Corient Private Wealth LLC owned approximately 0.06% of PulteGroup worth $12,923,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Greenhaven Associates Inc. increased its position in PulteGroup by 0.4% in the fourth quarter. Greenhaven Associates Inc. now owns 5,726,368 shares of the construction company’s stock worth $591,076,000 after buying an additional 24,350 shares in the last quarter. FMR LLC grew its position in shares of PulteGroup by 1.8% during the third 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 in the last quarter. Invesco Ltd. grew its position in shares of PulteGroup by 13.3% during the third 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 in the last quarter. Norges Bank purchased a new stake in shares of PulteGroup during the fourth quarter worth about $381,960,000. Finally, Morgan Stanley grew its position in shares of PulteGroup by 2.0% during the third 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 in the last quarter. Institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Performance

PHM stock traded up $1.56 during trading on Friday, hitting $114.30. The company had a trading volume of 812,989 shares, compared to its average volume of 1,596,844. The firm has a market cap of $24.04 billion, a PE ratio of 9.15, a price-to-earnings-growth ratio of 0.51 and a beta of 1.56. PulteGroup, Inc. has a 1-year low of $65.28 and a 1-year high of $122.72. The firm has a 50-day moving average price of $114.27 and a 200-day moving average price of $105.29. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.18.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, April 23rd. The construction company reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.51. PulteGroup had a return on equity of 25.81% and a net margin of 16.63%. The company had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.59 billion. On average, analysts expect that PulteGroup, Inc. will post 12.64 earnings per share for the current year.

PulteGroup announced that its board has initiated a share repurchase plan on Tuesday, January 30th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the construction company to reacquire up to 6.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

PulteGroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 18th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Tuesday, June 18th. PulteGroup’s dividend payout ratio (DPR) is 6.41%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PHM. Oppenheimer raised their price objective on PulteGroup from $138.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Wedbush restated a “neutral” rating and set a $85.00 target price on shares of PulteGroup in a research note on Wednesday, January 31st. Citigroup boosted their price objective on PulteGroup from $127.00 to $129.00 and gave the company a “neutral” rating in a report on Friday, May 17th. Zelman & Associates raised PulteGroup from a “neutral” rating to an “outperform” rating in a report on Wednesday, April 24th. Finally, Jefferies Financial Group increased their target price on PulteGroup from $126.00 to $131.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $111.87.

PulteGroup 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.