National Bank of Canada FI Lowers Stake in PulteGroup, Inc. (NYSE:PHM)

National Bank of Canada FI lessened its position in PulteGroup, Inc. (NYSE:PHM) by 13.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 115,585 shares of the construction company’s stock after selling 18,511 shares during the quarter. National Bank of Canada FI owned 0.06% of PulteGroup worth $12,587,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Public Sector Pension Investment Board raised its holdings in shares of PulteGroup by 10.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 8,617 shares of the construction company’s stock valued at $1,237,000 after buying an additional 800 shares in the last quarter. Benjamin Edwards Inc. raised its stake in shares of PulteGroup by 1,016.9% during the third quarter. Benjamin Edwards Inc. now owns 2,714 shares of the construction company’s stock worth $390,000 after acquiring an additional 2,471 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of PulteGroup by 7.4% in the 3rd quarter. Janus Henderson Group PLC now owns 30,624 shares of the construction company’s stock worth $4,395,000 after acquiring an additional 2,100 shares during the last quarter. IHT Wealth Management LLC purchased a new stake in shares of PulteGroup in the 3rd quarter valued at $247,000. Finally, Morse Asset Management Inc grew its holdings in shares of PulteGroup by 26.2% during the 3rd quarter. Morse Asset Management Inc now owns 9,735 shares of the construction company’s stock valued at $1,397,000 after purchasing an additional 2,020 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Insider Activity at PulteGroup

In related news, EVP Todd N. Sheldon sold 15,191 shares of the firm’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 transaction of $1,617,841.50. Following the completion of the transaction, the executive vice president now 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brian P. Anderson sold 2,500 shares of the business’s 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 sale, the director now directly owns 56,617 shares in the company, valued at $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. Insiders sold a total of 21,191 shares of company stock valued at $2,256,367 in the last three months. Company insiders own 0.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PHM. Barclays cut their price target on shares of PulteGroup from $125.00 to $117.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Seaport Res Ptn upgraded PulteGroup from a “strong sell” rating to a “hold” rating in a report on Thursday, March 6th. Wedbush reaffirmed an “outperform” rating and issued a $135.00 price target on shares of PulteGroup in a research note on Friday, January 31st. Bank of America dropped their price objective on PulteGroup from $135.00 to $134.00 and set a “buy” rating for the company in a research note on Monday, January 27th. Finally, Oppenheimer decreased their target price on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $140.86.

PulteGroup Stock Performance

Shares of PHM opened at $101.05 on Friday. The company has a 50-day simple moving average of $106.12 and a two-hundred day simple moving average of $120.21. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market capitalization of $20.46 billion, a PE ratio of 6.87, a price-to-earnings-growth ratio of 0.29 and a beta of 1.44. PulteGroup, Inc. has a one year low of $95.14 and a one year high of $149.47.

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

PulteGroup declared that its board has initiated a stock repurchase program 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 shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

PulteGroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th were paid a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.88 annualized dividend and a dividend yield of 0.87%. PulteGroup’s payout ratio is 5.98%.

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.