Bank of New York Mellon Corp Sells 6,733 Shares of PulteGroup, Inc. (NYSE:PHM)

Bank of New York Mellon Corp reduced its position in shares of PulteGroup, Inc. (NYSE:PHM) by 0.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,517,570 shares of the construction company’s stock after selling 6,733 shares during the quarter. Bank of New York Mellon Corp owned about 0.74% of PulteGroup worth $165,263,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of PHM. Ashton Thomas Private Wealth LLC grew its stake in PulteGroup by 3.0% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 3,054 shares of the construction company’s stock valued at $438,000 after purchasing an additional 88 shares during the last quarter. Richardson Financial Services Inc. raised its stake in shares of PulteGroup by 16.7% in the fourth quarter. Richardson Financial Services Inc. now owns 622 shares of the construction company’s stock worth $68,000 after purchasing an additional 89 shares during the last quarter. Premier Path Wealth Partners LLC lifted its holdings in shares of PulteGroup by 3.8% during the fourth quarter. Premier Path Wealth Partners LLC now owns 2,572 shares of the construction company’s stock worth $280,000 after purchasing an additional 95 shares during the period. Verdence Capital Advisors LLC boosted its position in PulteGroup by 2.8% in the third quarter. Verdence Capital Advisors LLC now owns 3,598 shares of the construction company’s stock valued at $516,000 after buying an additional 97 shares during the last quarter. Finally, Fortitude Family Office LLC increased its holdings in PulteGroup by 115.1% in the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock worth $27,000 after buying an additional 99 shares during the period. 89.90% of the stock is owned by institutional investors.

PulteGroup Trading Down 1.5 %

Shares of NYSE:PHM opened at $102.88 on Friday. The business’s 50 day moving average price is $110.11 and its 200-day moving average price is $124.84. PulteGroup, Inc. has a 1 year low of $100.54 and a 1 year high of $149.47. The firm has a market capitalization of $20.83 billion, a price-to-earnings ratio of 6.99, a price-to-earnings-growth ratio of 0.29 and a beta of 1.68. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.22. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. On average, equities research analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Tuesday, March 18th. PulteGroup’s payout ratio is 5.98%.

PulteGroup declared that its board has authorized a stock buyback program on Thursday, January 30th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 6.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages have commented on PHM. JPMorgan Chase & Co. decreased their price objective on shares of PulteGroup from $162.00 to $155.00 and set an “overweight” rating for the company in a research note on Friday, December 13th. Wells Fargo & Company decreased their target price on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Wedbush reaffirmed an “outperform” rating and set a $135.00 price target on shares of PulteGroup in a research report on Friday, January 31st. Oppenheimer reduced their price objective on PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. Finally, Bank of America lowered their target price on PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $140.86.

Insider Buying and Selling

In related news, Director Brian P. Anderson sold 2,500 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $106.45, for a total value of $266,125.00. Following the completion of the transaction, the director now directly owns 56,617 shares of the company’s stock, valued at approximately $6,026,879.65. This represents a 4.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Todd N. Sheldon sold 15,191 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $106.50, for a total value of $1,617,841.50. Following the completion of the transaction, the executive vice president now owns 74,758 shares in the company, valued at $7,961,727. The trade was a 16.89 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,191 shares of company stock worth $2,256,367. Insiders own 0.75% of the company’s stock.

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.