DnB Asset Management AS Buys 975 Shares of PulteGroup, Inc. (NYSE:PHM)

DnB Asset Management AS grew its position in PulteGroup, Inc. (NYSE:PHM) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,906 shares of the construction company’s stock after purchasing an additional 975 shares during the quarter. DnB Asset Management AS’s holdings in PulteGroup were worth $3,910,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Logan Capital Management Inc. raised its holdings in PulteGroup by 67.7% in the 3rd quarter. Logan Capital Management Inc. now owns 14,797 shares of the construction company’s stock worth $2,124,000 after acquiring an additional 5,976 shares during the period. Sanctuary Advisors LLC grew its position in shares of PulteGroup by 38.1% in the third quarter. Sanctuary Advisors LLC now owns 121,299 shares of the construction company’s stock valued at $17,410,000 after purchasing an additional 33,472 shares during the last quarter. Systematic Financial Management LP increased its stake in shares of PulteGroup by 3.9% in the third quarter. Systematic Financial Management LP now owns 130,257 shares of the construction company’s stock worth $18,696,000 after purchasing an additional 4,840 shares during the period. Nilsine Partners LLC lifted its position in shares of PulteGroup by 929.2% during the 4th quarter. Nilsine Partners LLC now owns 20,574 shares of the construction company’s stock worth $2,240,000 after purchasing an additional 18,575 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its stake in PulteGroup by 3.2% during the 4th quarter. Harbor Capital Advisors Inc. now owns 4,559 shares of the construction company’s stock valued at $496,000 after purchasing an additional 143 shares during the period. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Trading Up 1.2 %

PHM stock opened at $102.94 on Tuesday. PulteGroup, Inc. has a 1-year low of $99.58 and a 1-year high of $149.47. 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 business’s 50 day moving average is $107.30 and its 200-day moving average is $121.01. The firm has a market cap of $20.84 billion, a P/E ratio of 7.00, a P/E/G ratio of 0.29 and a beta of 1.71.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share for the quarter, beating 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%. Equities analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup declared that its board has initiated a share buyback plan on Thursday, January 30th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to purchase up to 6.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

PulteGroup Announces Dividend

The company 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. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Tuesday, March 18th. PulteGroup’s dividend payout ratio (DPR) is currently 5.98%.

Insider Activity at PulteGroup

In other news, Director Brian P. Anderson sold 2,500 shares of PulteGroup stock in a transaction that occurred on Monday, February 10th. The shares were 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. The trade was a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Todd N. Sheldon sold 15,191 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 74,758 shares in the company, valued at $7,961,727. The trade was a 16.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,191 shares of company stock valued at $2,256,367 in the last ninety days. Insiders own 0.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PHM. Bank of America cut their price target on PulteGroup from $135.00 to $134.00 and set a “buy” rating for the company in a report on Monday, January 27th. Citigroup cut their target price on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Seaport Res Ptn raised shares of PulteGroup from a “strong sell” rating to a “hold” rating in a report on Thursday, March 6th. The Goldman Sachs Group dropped their price objective on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Finally, Oppenheimer reduced their target price 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. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus 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.