First Eagle Investment Management LLC Trims Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

First Eagle Investment Management LLC lowered its stake in PulteGroup, Inc. (NYSE:PHM) by 6.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,839 shares of the construction company’s stock after selling 200 shares during the quarter. First Eagle Investment Management LLC’s holdings in PulteGroup were worth $309,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Sigma Planning Corp acquired a new position in shares of PulteGroup in the 3rd quarter worth approximately $259,000. CIBC Asset Management Inc raised its position in PulteGroup by 6.6% in the third quarter. CIBC Asset Management Inc now owns 30,909 shares of the construction company’s stock valued at $4,436,000 after purchasing an additional 1,923 shares during the period. Natixis Advisors LLC lifted its stake in PulteGroup by 1.4% during the third quarter. Natixis Advisors LLC now owns 166,289 shares of the construction company’s stock worth $23,868,000 after purchasing an additional 2,319 shares in the last quarter. Accredited Investors Inc. acquired a new stake in shares of PulteGroup in the third quarter valued at $215,000. Finally, Concord Asset Management LLC VA raised its holdings in shares of PulteGroup by 6.8% in the 3rd quarter. Concord Asset Management LLC VA now owns 5,158 shares of the construction company’s stock valued at $740,000 after buying an additional 329 shares during the period. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Up 1.9 %

PHM stock opened at $103.04 on Monday. The stock has a market cap of $20.86 billion, a P/E ratio of 7.00, a PEG 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, Inc. has a twelve month low of $100.54 and a twelve month high of $149.47. The company’s 50 day moving average is $109.01 and its two-hundred day moving average is $123.08.

PulteGroup (NYSE:PHM) last announced 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%. Research analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

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 given 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 0.85%. PulteGroup’s dividend payout ratio (DPR) is presently 5.98%.

PulteGroup declared that its Board of Directors has initiated a stock buyback plan on Thursday, January 30th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 6.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PHM. Wedbush restated an “outperform” rating and set a $135.00 target price on shares of PulteGroup in a report on Friday, January 31st. StockNews.com cut shares of PulteGroup from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. The Goldman Sachs Group cut their target price 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 decreased their price target on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a research report on Friday, January 31st. Finally, UBS Group upped their price objective on PulteGroup from $148.00 to $151.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.86.

Insider Buying and Selling

In related news, EVP Todd N. Sheldon sold 15,191 shares of the 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 sale, the executive vice president now owns 74,758 shares in the company, valued at $7,961,727. This represents a 16.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brien P. O’meara sold 3,500 shares of PulteGroup 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 transaction, the vice president now owns 11,372 shares in the company, valued at approximately $1,209,980.80. This represents a 23.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,191 shares of company stock worth $2,256,367 in the last quarter. 0.83% of the stock is owned by insiders.

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.