Tocqueville Asset Management L.P. Decreases Position in PulteGroup, Inc. (NYSE:PHM)

Tocqueville Asset Management L.P. decreased its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 2.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,962 shares of the construction company’s stock after selling 99 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in PulteGroup were worth $540,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Hager Investment Management Services LLC purchased a new stake in PulteGroup in the fourth quarter valued at approximately $29,000. Fortitude Family Office LLC lifted its stake in PulteGroup by 74.1% in the fourth quarter. Fortitude Family Office LLC now owns 322 shares of the construction company’s stock valued at $35,000 after buying an additional 137 shares during the last quarter. R Squared Ltd purchased a new stake in PulteGroup in the fourth quarter valued at approximately $39,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in PulteGroup by 41.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 444 shares of the construction company’s stock valued at $48,000 after buying an additional 131 shares during the last quarter. Finally, Oakworth Capital Inc. lifted its stake in PulteGroup by 642.2% in the fourth quarter. Oakworth Capital Inc. now owns 475 shares of the construction company’s stock valued at $52,000 after buying an additional 411 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Up 1.7 %

Shares of NYSE:PHM opened at $105.29 on Thursday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a 52-week low of $100.54 and a 52-week high of $149.47. The stock’s fifty day simple moving average is $108.73 and its 200-day simple moving average is $122.57. The company has a market capitalization of $21.32 billion, a P/E ratio of 7.16, a P/E/G ratio of 0.29 and a beta of 1.71.

PulteGroup (NYSE:PHM) last issued 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 return on equity of 24.43% and a net margin of 17.18%. As a group, equities research analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup announced that its board has initiated a share repurchase plan on Thursday, January 30th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the construction company to buy up to 6.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

PulteGroup Dividend Announcement

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 dividend of $0.22 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 annualized dividend and a yield of 0.84%. PulteGroup’s dividend payout ratio (DPR) is presently 5.98%.

Insider Buying and Selling

In other news, EVP Todd N. Sheldon sold 15,191 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $106.50, for a total value of $1,617,841.50. Following the transaction, the executive vice president now directly owns 74,758 shares in the company, 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 SEC, which is available through this hyperlink. 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 value of $266,125.00. Following the completion of the transaction, the director now owns 56,617 shares in the company, valued at approximately $6,026,879.65. This trade represents 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 worth $2,256,367. 0.83% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Oppenheimer cut their price target on PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. Barclays cut their price target on PulteGroup from $125.00 to $117.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. The Goldman Sachs Group cut their price target on PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Seaport Res Ptn upgraded PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 6th. Finally, Wells Fargo & Company cut their price target on PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $140.86.

PulteGroup Company 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.