PulteGroup, Inc. (NYSE:PHM) Shares Sold by Amalgamated Bank

Amalgamated Bank lowered its position in shares of PulteGroup, Inc. (NYSE:PHM) by 6.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,179 shares of the construction company’s stock after selling 2,686 shares during the period. Amalgamated Bank’s holdings in PulteGroup were worth $4,375,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Transcendent Capital Group LLC purchased a new stake in PulteGroup in the 3rd quarter valued at approximately $29,000. Hager Investment Management Services LLC purchased a new stake in PulteGroup in the 4th quarter valued at approximately $29,000. Fortitude Family Office LLC boosted its holdings in PulteGroup by 74.1% in the 4th quarter. Fortitude Family Office LLC now owns 322 shares of the construction company’s stock valued at $35,000 after purchasing an additional 137 shares in the last quarter. R Squared Ltd purchased a new stake in PulteGroup in the 4th quarter valued at approximately $39,000. Finally, JNBA Financial Advisors purchased a new stake in PulteGroup in the 3rd quarter valued at approximately $43,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Price Performance

PHM stock opened at $103.23 on Friday. PulteGroup, Inc. has a 1 year low of $100.54 and a 1 year high of $149.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86. The stock’s 50 day moving average price is $109.97 and its 200 day moving average price is $124.71. The firm has a market cap of $20.90 billion, a P/E ratio of 7.02, a PEG ratio of 0.29 and a beta of 1.68.

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

PulteGroup Announces Dividend

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

PulteGroup declared that its Board of Directors has authorized a stock 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 repurchase up to 6.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PHM shares. Barclays lowered their price objective on PulteGroup from $125.00 to $117.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Wedbush reaffirmed an “outperform” rating and issued a $135.00 price objective on shares of PulteGroup in a report on Friday, January 31st. StockNews.com lowered PulteGroup from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. Bank of America decreased their price target on PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. Finally, UBS Group boosted their price target on PulteGroup from $148.00 to $151.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.86.

Insider Buying and Selling at PulteGroup

In other PulteGroup news, EVP Todd N. Sheldon sold 15,191 shares of the business’s stock in a transaction 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 approximately $7,961,727. The trade was a 16.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Brian P. Anderson sold 2,500 shares of the business’s stock in a transaction 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 of the company’s stock, 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. In the last three months, insiders sold 21,191 shares of company stock worth $2,256,367. Insiders own 0.83% of the company’s stock.

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.