PulteGroup, Inc. (NYSE:PHM) Position Cut by Renasant Bank

Renasant Bank reduced its holdings in PulteGroup, Inc. (NYSE:PHM) by 2.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,819 shares of the construction company’s stock after selling 104 shares during the quarter. Renasant Bank’s holdings in PulteGroup were worth $416,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PHM. Logan Capital Management Inc. increased its holdings in shares of PulteGroup by 67.7% during the third quarter. Logan Capital Management Inc. now owns 14,797 shares of the construction company’s stock valued at $2,124,000 after purchasing an additional 5,976 shares during the period. Sanctuary Advisors LLC grew its position in PulteGroup by 38.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 121,299 shares of the construction company’s stock valued at $17,410,000 after buying an additional 33,472 shares in the last quarter. Trustmark National Bank Trust Department increased its stake in PulteGroup by 39.8% during the 3rd quarter. Trustmark National Bank Trust Department now owns 39,589 shares of the construction company’s stock valued at $5,682,000 after buying an additional 11,269 shares during the period. Systematic Financial Management LP raised its position in shares of PulteGroup by 3.9% during the 3rd quarter. Systematic Financial Management LP now owns 130,257 shares of the construction company’s stock worth $18,696,000 after buying an additional 4,840 shares in the last quarter. Finally, Nilsine Partners LLC lifted its stake in shares of PulteGroup by 929.2% in the 4th quarter. Nilsine Partners LLC now owns 20,574 shares of the construction company’s stock worth $2,240,000 after acquiring an additional 18,575 shares during the period. Institutional investors own 89.90% of the company’s stock.

Wall Street Analysts Forecast Growth

PHM has been the topic of a number of research analyst reports. The Goldman Sachs Group lowered their price objective on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Oppenheimer lowered their price target on PulteGroup from $165.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday, January 31st. Citigroup dropped their price objective on PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Bank of America decreased their target price 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, StockNews.com lowered PulteGroup from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, PulteGroup presently has an average rating of “Moderate Buy” and a consensus target price of $140.86.

Insider Transactions at PulteGroup

In related news, Director Brian P. Anderson sold 2,500 shares of the 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 sale, the director now directly owns 56,617 shares of the company’s stock, valued at approximately $6,026,879.65. This represents a 4.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Brien P. O’meara sold 3,500 shares of PulteGroup stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $106.40, for a total value of $372,400.00. Following the transaction, the vice president now directly owns 11,372 shares in the company, valued at approximately $1,209,980.80. This trade represents a 23.53 % decrease in their position. 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 over the last quarter. Company insiders own 0.83% of the company’s stock.

PulteGroup Price Performance

PHM stock opened at $100.90 on Friday. PulteGroup, Inc. has a one year low of $100.54 and a one year high of $149.47. The firm has a 50-day moving average of $109.15 and a two-hundred day moving average of $123.40. The firm has a market capitalization of $20.43 billion, a PE ratio of 6.86, a P/E/G ratio of 0.29 and a beta of 1.71. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13.

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

PulteGroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.87%. PulteGroup’s payout ratio is currently 5.98%.

PulteGroup announced that its board has initiated a share 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 stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

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.