IFP Advisors Inc Trims Holdings in PulteGroup, Inc. (NYSE:PHM)

IFP Advisors Inc reduced its position in shares of PulteGroup, Inc. (NYSE:PHM) by 9.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 7,086 shares of the construction company’s stock after selling 703 shares during the quarter. IFP Advisors Inc’s holdings in PulteGroup were worth $773,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC boosted its position in 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 acquiring an additional 99 shares during the last quarter. Transcendent Capital Group LLC acquired a new stake in shares of PulteGroup during the third quarter worth $29,000. Hager Investment Management Services LLC purchased a new stake in shares of PulteGroup in the fourth quarter valued at $29,000. R Squared Ltd acquired a new position in PulteGroup in the fourth quarter valued at $39,000. Finally, JNBA Financial Advisors purchased a new position in PulteGroup during the third quarter worth about $43,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at PulteGroup

In related news, VP Brien P. O’meara sold 3,500 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $106.40, for a total value of $372,400.00. Following the completion of the transaction, the vice president now owns 11,372 shares of the company’s stock, valued at approximately $1,209,980.80. This represents a 23.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Todd N. Sheldon sold 15,191 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $106.50, for a total value of $1,617,841.50. Following the sale, the executive vice president now owns 74,758 shares of the company’s stock, valued at approximately $7,961,727. This trade represents a 16.89 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 21,191 shares of company stock valued at $2,256,367. Corporate insiders own 0.75% of the company’s stock.

PulteGroup Trading Down 1.5 %

Shares of PHM opened at $102.88 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 12 month low of $100.54 and a 12 month high of $149.47. The stock has a market cap of $20.83 billion, a PE ratio of 6.99, a P/E/G ratio of 0.29 and a beta of 1.68. The stock’s 50-day moving average is $110.11 and its two-hundred day moving average is $124.84.

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

PulteGroup declared that its board has approved a stock buyback plan on Thursday, January 30th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to repurchase up to 6.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

PulteGroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Tuesday, March 18th. PulteGroup’s payout ratio is 5.98%.

Analyst Ratings Changes

Several research firms have commented on PHM. Wells Fargo & Company lowered their price target on PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. The Goldman Sachs Group decreased their target price on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. JPMorgan Chase & Co. dropped their price target on shares of PulteGroup from $162.00 to $155.00 and set an “overweight” rating for the company in a research report on Friday, December 13th. Wedbush reiterated an “outperform” rating and issued a $135.00 price target on shares of PulteGroup in a report on Friday, January 31st. Finally, Seaport Res Ptn downgraded PulteGroup from a “hold” rating to a “strong sell” rating in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, PulteGroup currently has an average rating of “Moderate Buy” and an average price target of $140.86.

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.