Independent Advisor Alliance Increases Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Independent Advisor Alliance lifted its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 21.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,868 shares of the construction company’s stock after buying an additional 1,735 shares during the period. Independent Advisor Alliance’s holdings in PulteGroup were worth $1,075,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Johnson Investment Counsel Inc. boosted its position in shares of PulteGroup by 5.6% during the fourth quarter. Johnson Investment Counsel Inc. now owns 6,764 shares of the construction company’s stock valued at $737,000 after buying an additional 361 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of PulteGroup by 6.2% during the fourth quarter. Daiwa Securities Group Inc. now owns 28,096 shares of the construction company’s stock valued at $3,060,000 after buying an additional 1,641 shares during the last quarter. Ruffer LLP purchased a new position in shares of PulteGroup during the fourth quarter valued at approximately $3,173,000. AlphaQuest LLC boosted its position in shares of PulteGroup by 71.7% during the fourth quarter. AlphaQuest LLC now owns 16,748 shares of the construction company’s stock valued at $1,824,000 after buying an additional 6,992 shares during the last quarter. Finally, United Community Bank boosted its position in PulteGroup by 2.9% in the fourth quarter. United Community Bank now owns 5,749 shares of the construction company’s stock worth $626,000 after purchasing an additional 160 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Insiders Place Their Bets

In other PulteGroup news, VP Brien P. O’meara sold 3,500 shares of the company’s 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 transaction, the vice president now directly owns 11,372 shares in the company, valued at $1,209,980.80. This represents a 23.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Todd N. Sheldon sold 15,191 shares of the company’s stock in a transaction dated 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 transaction, 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 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 ninety days. 0.83% of the stock is currently owned by insiders.

PulteGroup Stock Performance

NYSE:PHM opened at $103.04 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86. PulteGroup, Inc. has a 52-week low of $100.54 and a 52-week high of $149.47. The firm has a market cap of $20.86 billion, a price-to-earnings ratio of 7.00, a PEG ratio of 0.29 and a beta of 1.71. The business’s fifty day moving average is $109.01 and its 200 day moving average is $123.13.

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

PulteGroup declared that its board has initiated a share repurchase program on Thursday, January 30th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the construction company to repurchase up to 6.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

PulteGroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be paid 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 yield of 0.85%. PulteGroup’s dividend payout ratio is currently 5.98%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PHM shares. Barclays cut their price objective on PulteGroup from $125.00 to $117.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Seaport Res Ptn raised PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 6th. Citigroup cut their price objective on PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Oppenheimer cut their price objective on PulteGroup from $165.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday, January 31st. Finally, Bank of America cut their price objective on PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $140.86.

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.