PulteGroup, Inc. (NYSE:PHM) Shares Bought by Aspen Investment Management Inc

Aspen Investment Management Inc raised its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 29.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,140 shares of the construction company’s stock after buying an additional 705 shares during the quarter. Aspen Investment Management Inc’s holdings in PulteGroup were worth $342,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Fortitude Family Office LLC raised its holdings in shares of PulteGroup by 115.1% during the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock worth $27,000 after purchasing an additional 99 shares during the last quarter. Transcendent Capital Group LLC acquired a new stake in PulteGroup during the 3rd quarter worth about $29,000. Hager Investment Management Services LLC acquired a new stake in PulteGroup during the 4th quarter worth about $29,000. JNBA Financial Advisors purchased a new position in shares of PulteGroup during the 3rd quarter valued at about $43,000. Finally, R Squared Ltd acquired a new position in shares of PulteGroup in the 4th quarter valued at about $39,000. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at PulteGroup

In other PulteGroup news, 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 transaction of $266,125.00. Following the transaction, the director now owns 56,617 shares of the company’s stock, 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 filing with the SEC, which is accessible through the SEC website. Also, EVP Todd N. Sheldon sold 15,191 shares of the firm’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 sale, the executive vice president now directly owns 74,758 shares of the company’s stock, valued at $7,961,727. This trade represents a 16.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,191 shares of company stock worth $2,256,367. Insiders own 0.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PHM shares. The Goldman Sachs Group dropped their target price on PulteGroup from $140.00 to $124.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Citigroup dropped their price objective on shares of 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 cut their target price on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating for the company in a report on Monday, January 27th. Wells Fargo & Company lowered their price target on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Finally, Oppenheimer cut their price objective on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.86.

PulteGroup Stock Performance

Shares of NYSE:PHM opened at $105.80 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. PulteGroup, Inc. has a 1 year low of $101.13 and a 1 year high of $149.47. The firm has a market capitalization of $21.42 billion, a PE ratio of 7.19, a P/E/G ratio of 0.28 and a beta of 1.68. The business’s 50 day moving average price is $111.47 and its 200-day moving average price is $125.63.

PulteGroup (NYSE:PHM) last announced its earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share (EPS) for the quarter, topping 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%. As a group, equities research analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup announced that its Board of Directors has initiated a share buyback plan on Thursday, January 30th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the construction company to buy up to 6.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

PulteGroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.88 annualized dividend and a yield of 0.83%. PulteGroup’s dividend payout ratio is presently 5.98%.

PulteGroup 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.