Monument Capital Management Grows Stock Position in PulteGroup, Inc. (NYSE:PHM)

Monument Capital Management boosted its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 0.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 42,416 shares of the construction company’s stock after buying an additional 342 shares during the quarter. PulteGroup accounts for about 1.3% of Monument Capital Management’s holdings, making the stock its 20th largest position. Monument Capital Management’s holdings in PulteGroup were worth $4,619,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PHM. FMR LLC boosted its position in shares of PulteGroup by 102.3% during the 3rd quarter. FMR LLC now owns 9,040,828 shares of the construction company’s stock valued at $1,297,630,000 after acquiring an additional 4,571,757 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of PulteGroup by 5.5% during the third quarter. Franklin Resources Inc. now owns 11,254,274 shares of the construction company’s stock valued at $1,647,364,000 after purchasing an additional 585,735 shares during the period. Westfield Capital Management Co. LP bought a new stake in shares of PulteGroup during the third quarter valued at approximately $66,485,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of PulteGroup by 357.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 521,958 shares of the construction company’s stock worth $74,917,000 after buying an additional 407,764 shares during the period. Finally, KBC Group NV grew its holdings in PulteGroup by 1,020.0% during the 3rd quarter. KBC Group NV now owns 435,925 shares of the construction company’s stock worth $62,568,000 after acquiring an additional 397,003 shares in the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Stock Up 0.7 %

Shares of NYSE:PHM opened at $107.45 on Monday. The company has a 50 day moving average of $112.63 and a two-hundred day moving average of $126.12. The company has a market capitalization of $22.04 billion, a price-to-earnings ratio of 7.30, a price-to-earnings-growth ratio of 0.29 and a beta of 1.68. PulteGroup, Inc. has a 52-week low of $100.24 and a 52-week high of $149.47. The company has a quick ratio of 0.73, a current ratio of 0.86 and a debt-to-equity ratio of 0.13.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, topping 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, analysts forecast that PulteGroup, Inc. will post 12.43 earnings per share for the current fiscal year.

PulteGroup announced that its Board of Directors has initiated a share repurchase program on Thursday, January 30th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the construction company to reacquire up to 6.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

PulteGroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.82%. The ex-dividend date is Tuesday, March 18th. PulteGroup’s dividend payout ratio is currently 5.98%.

Insider Activity

In other PulteGroup news, EVP Todd N. Sheldon sold 15,191 shares of PulteGroup stock in a transaction that occurred on Thursday, February 13th. The shares were 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 directly owns 74,758 shares in the company, valued at approximately $7,961,727. The trade was a 16.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Brian P. Anderson sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $106.45, for a total transaction of $266,125.00. Following the transaction, the director now directly owns 56,617 shares in the company, valued at $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. Over the last ninety days, insiders have sold 21,191 shares of company stock valued at $2,256,367. Company insiders own 0.83% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Oppenheimer reduced their price objective on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. UBS Group upped their price objective on shares of PulteGroup from $148.00 to $151.00 and gave the company a “buy” rating in a report on Friday, January 31st. Bank of America reduced their price target on PulteGroup from $135.00 to $134.00 and set a “buy” rating for the company in a research report on Monday, January 27th. BTIG Research upped their price target on PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, StockNews.com lowered shares of PulteGroup from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $140.86.

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.