Bogart Wealth LLC Boosts Holdings in PulteGroup, Inc. (NYSE:PHM)

Bogart Wealth LLC raised its position in shares of PulteGroup, Inc. (NYSE:PHM) by 39.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 63,695 shares of the construction company’s stock after acquiring an additional 17,882 shares during the period. Bogart Wealth LLC’s holdings in PulteGroup were worth $6,936,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Franklin Resources Inc. grew its holdings in PulteGroup by 5.5% during the 3rd quarter. Franklin Resources Inc. now owns 11,254,274 shares of the construction company’s stock valued at $1,647,364,000 after purchasing an additional 585,735 shares during the last quarter. FMR LLC lifted its stake in PulteGroup by 102.3% in the third quarter. FMR LLC now owns 9,040,828 shares of the construction company’s stock worth $1,297,630,000 after purchasing an additional 4,571,757 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of PulteGroup by 7.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,864,040 shares of the construction company’s stock valued at $267,546,000 after buying an additional 135,391 shares during the period. Nordea Investment Management AB grew its stake in shares of PulteGroup by 10.0% during the fourth quarter. Nordea Investment Management AB now owns 1,424,119 shares of the construction company’s stock valued at $155,856,000 after buying an additional 129,975 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of PulteGroup by 6.3% in the third quarter. Victory Capital Management Inc. now owns 1,025,276 shares of the construction company’s stock worth $147,158,000 after buying an additional 60,854 shares during the period. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Insider Activity

In other news, VP Brien P. O’meara sold 3,500 shares of the firm’s stock in a transaction on 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 sale, the vice president now owns 11,372 shares of the company’s stock, valued at $1,209,980.80. This trade represents a 23.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Todd N. Sheldon sold 15,191 shares of the business’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 transaction, the executive vice president now owns 74,758 shares in the company, valued at approximately $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 ninety days, insiders have sold 21,191 shares of company stock worth $2,256,367. Corporate insiders own 0.83% of the company’s stock.

Analyst Ratings Changes

PHM has been the subject of a number of recent analyst reports. Evercore ISI dropped their price objective on PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Wedbush reissued an “outperform” rating and set a $135.00 target price on shares of PulteGroup in a research note on Friday, January 31st. 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 note on Tuesday, January 14th. UBS Group lifted their price objective on shares of PulteGroup from $148.00 to $151.00 and gave the company a “buy” rating in a report on Friday, January 31st. Finally, Oppenheimer dropped their target price on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $140.86.

PulteGroup Stock Up 0.6 %

PulteGroup stock opened at $106.67 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. The firm has a market cap of $21.88 billion, a P/E ratio of 7.25, a P/E/G ratio of 0.29 and a beta of 1.68. The business has a fifty day moving average of $113.44 and a two-hundred day moving average of $126.49. PulteGroup, Inc. has a twelve month low of $100.24 and a twelve month high of $149.47.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $3.28 by $0.22. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. On average, analysts forecast that PulteGroup, Inc. will post 12.43 earnings per share for the current fiscal year.

PulteGroup announced that its Board of Directors has authorized a stock repurchase program on Thursday, January 30th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to reacquire up to 6.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

PulteGroup Announces Dividend

The company also recently declared 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. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend is Tuesday, March 18th. PulteGroup’s dividend 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.