1900 Wealth Management LLC Trims Stake in PulteGroup, Inc. (NYSE:PHM)

1900 Wealth Management LLC decreased its position in shares of PulteGroup, Inc. (NYSE:PHM) by 7.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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 & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in PHM. Aspire Private Capital LLC grew its stake in PulteGroup by 7.9% during the fourth quarter. Aspire Private Capital LLC now owns 8,871 shares of the construction company’s stock valued at $916,000 after acquiring an additional 650 shares in the last quarter. Wedge Capital Management L L P NC lifted its holdings in shares of PulteGroup by 4.8% in the 4th quarter. Wedge Capital Management L L P NC now owns 490,044 shares of the construction company’s stock worth $50,582,000 after acquiring an additional 22,259 shares during the last quarter. EFG Asset Management Americas Corp. lifted its holdings in shares of PulteGroup by 20.2% in the 4th quarter. EFG Asset Management Americas Corp. now owns 28,277 shares of the construction company’s stock worth $2,919,000 after acquiring an additional 4,752 shares during the last quarter. CWM LLC lifted its holdings in PulteGroup by 3.9% during the 4th quarter. CWM LLC now owns 10,855 shares of the construction company’s stock valued at $1,120,000 after buying an additional 406 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in PulteGroup by 2.7% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,313 shares of the construction company’s stock valued at $2,200,000 after buying an additional 559 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Performance

PHM traded up $3.79 during trading hours on Tuesday, hitting $111.62. 1,660,510 shares of the stock were exchanged, compared to its average volume of 1,800,052. The stock has a 50-day simple moving average of $110.51 and a 200-day simple moving average of $98.67. PulteGroup, Inc. has a 12 month low of $62.35 and a 12 month high of $121.07. The stock has a market cap of $23.55 billion, a price-to-earnings ratio of 9.12, a price-to-earnings-growth ratio of 0.51 and a beta of 1.56. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.86 and a quick ratio of 0.86.

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

PulteGroup Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Friday, March 15th were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 0.72%. PulteGroup’s dividend payout ratio is 6.81%.

PulteGroup announced that its Board of Directors has approved a stock buyback 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 of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PHM. Raymond James lifted their price objective on shares of PulteGroup from $100.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Citigroup boosted their target price on shares of PulteGroup from $116.00 to $127.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. StockNews.com cut shares of PulteGroup from a “buy” rating to a “hold” rating in a research report on Saturday, March 2nd. UBS Group cut shares of PulteGroup from a “buy” rating to a “neutral” rating and increased their target price for the company from $93.00 to $120.00 in a research report on Thursday, January 4th. Finally, The Goldman Sachs Group upped their price objective on shares of PulteGroup from $91.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday, January 11th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $106.47.

Insider Activity

In related news, VP Brien P. O’meara sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $103.09, for a total value of $206,180.00. Following the transaction, the vice president now directly owns 15,389 shares of the company’s stock, valued at approximately $1,586,452.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.75% of the stock is owned by corporate insiders.

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.