Private Trust Co. NA Cuts Stake in PulteGroup, Inc. (NYSE:PHM)

Private Trust Co. NA lowered its position in shares of PulteGroup, Inc. (NYSE:PHM) by 28.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,006 shares of the construction company’s stock after selling 1,217 shares during the quarter. Private Trust Co. NA’s holdings in PulteGroup were worth $327,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC raised its position 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 worth $438,000 after buying an additional 88 shares during the last quarter. Richardson Financial Services Inc. raised its position in PulteGroup by 16.7% during the 4th quarter. Richardson Financial Services Inc. now owns 622 shares of the construction company’s stock worth $68,000 after buying an additional 89 shares during the last quarter. Premier Path Wealth Partners LLC raised its position in PulteGroup by 3.8% during the 4th quarter. Premier Path Wealth Partners LLC now owns 2,572 shares of the construction company’s stock worth $280,000 after buying an additional 95 shares during the last quarter. Verdence Capital Advisors LLC raised its position in PulteGroup by 2.8% during the 3rd quarter. Verdence Capital Advisors LLC now owns 3,598 shares of the construction company’s stock worth $516,000 after buying an additional 97 shares during the last quarter. Finally, Community Bank & Trust Waco Texas raised its position in PulteGroup by 2.7% during the 3rd quarter. Community Bank & Trust Waco Texas now owns 3,843 shares of the construction company’s stock worth $552,000 after buying an additional 102 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Performance

NYSE:PHM opened at $103.23 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $109.97 and a two-hundred day moving average price of $124.74. PulteGroup, Inc. has a twelve month low of $100.54 and a twelve month high of $149.47. The company has a market capitalization of $20.90 billion, a P/E ratio of 7.02, a price-to-earnings-growth ratio of 0.29 and a beta of 1.68.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

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

PulteGroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.88 annualized dividend and a dividend yield of 0.85%. PulteGroup’s dividend payout ratio is currently 5.98%.

Insiders Place Their Bets

In other PulteGroup news, EVP Todd N. Sheldon sold 15,191 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 74,758 shares of the company’s stock, valued at $7,961,727. This trade represents a 16.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brian P. Anderson sold 2,500 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $106.45, for a total transaction of $266,125.00. Following the sale, the director now directly owns 56,617 shares in the company, valued at $6,026,879.65. This represents a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,191 shares of company stock valued at $2,256,367 in the last ninety days. Insiders own 0.83% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Seaport Res Ptn downgraded shares of PulteGroup from a “hold” rating to a “strong sell” rating in a report on Monday, January 27th. JPMorgan Chase & Co. cut their price target on shares of PulteGroup from $162.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, December 13th. Wedbush reiterated an “outperform” rating and issued a $135.00 price target on shares of PulteGroup in a report on Friday, January 31st. Citigroup cut their price target on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Finally, StockNews.com downgraded shares of PulteGroup from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. One research 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’s stock. According to data from MarketBeat, PulteGroup presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.86.

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.