US Bancorp DE Raises Position in PulteGroup, Inc. (NYSE:PHM)

US Bancorp DE grew its holdings in PulteGroup, Inc. (NYSE:PHM) by 63.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,092 shares of the construction company’s stock after purchasing an additional 9,346 shares during the quarter. US Bancorp DE’s holdings in PulteGroup were worth $2,624,000 as of its most recent SEC filing.

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

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. UBS Group lifted their price target on shares of PulteGroup from $148.00 to $151.00 and gave the company a “buy” rating in a research report on Friday, January 31st. StockNews.com lowered shares of PulteGroup from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. The Goldman Sachs Group reduced their price target 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. Wedbush reaffirmed an “outperform” rating and set a $135.00 price target on shares of PulteGroup in a research report on Friday, January 31st. Finally, Barclays dropped their target price on shares of PulteGroup from $125.00 to $117.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, PulteGroup currently has an average rating of “Moderate Buy” and a consensus target price of $140.86.

PulteGroup Stock Performance

NYSE:PHM opened at $108.44 on Friday. The company has a fifty day simple moving average of $109.51 and a two-hundred day simple moving average of $124.21. The company has a market cap of $21.96 billion, a price-to-earnings ratio of 7.37, a price-to-earnings-growth ratio of 0.29 and a beta of 1.71. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a 52 week low of $100.54 and a 52 week high of $149.47.

PulteGroup (NYSE:PHM) last posted 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 net margin of 17.18% and a return on equity of 24.43%. As a group, equities analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup announced that its Board of Directors has authorized a share repurchase plan on Thursday, January 30th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the construction company to purchase up to 6.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

PulteGroup Dividend Announcement

The company also recently announced 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 is Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.81%. PulteGroup’s payout ratio is currently 5.98%.

PulteGroup Company 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.