Avantax Advisory Services Inc. Decreases Stock Position in PulteGroup, Inc. (NYSE:PHM)

Avantax Advisory Services Inc. trimmed its position in shares of PulteGroup, Inc. (NYSE:PHM) by 2.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,893 shares of the construction company’s stock after selling 241 shares during the quarter. Avantax Advisory Services Inc.’s holdings in PulteGroup were worth $1,295,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Hager Investment Management Services LLC acquired a new stake in shares of PulteGroup in the fourth quarter valued at about $29,000. Fortitude Family Office LLC raised its holdings in PulteGroup by 74.1% in the 4th quarter. Fortitude Family Office LLC now owns 322 shares of the construction company’s stock valued at $35,000 after acquiring an additional 137 shares during the last quarter. R Squared Ltd purchased a new position in PulteGroup in the 4th quarter worth approximately $39,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of PulteGroup by 41.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 444 shares of the construction company’s stock worth $48,000 after purchasing an additional 131 shares during the last quarter. Finally, Oakworth Capital Inc. grew its position in shares of PulteGroup by 642.2% in the fourth quarter. Oakworth Capital Inc. now owns 475 shares of the construction company’s stock valued at $52,000 after purchasing an additional 411 shares in the last quarter. 89.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other PulteGroup news, Director Brian P. Anderson sold 2,500 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $106.45, for a total value of $266,125.00. Following the sale, the director now directly owns 56,617 shares in the company, valued at $6,026,879.65. This trade represents a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Brien P. O’meara sold 3,500 shares of the stock in a transaction dated Thursday, February 13th. The shares were 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 in the company, valued at approximately $1,209,980.80. The trade was a 23.53 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,191 shares of company stock worth $2,256,367. Corporate insiders own 0.83% of the company’s stock.

PulteGroup Price Performance

PHM opened at $103.53 on Wednesday. The stock’s 50-day moving average price is $108.83 and its 200 day moving average price is $122.69. PulteGroup, Inc. has a 12-month low of $100.54 and a 12-month high of $149.47. The firm has a market cap of $20.96 billion, a price-to-earnings ratio of 7.04, 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 (NYSE:PHM) last posted its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, beating 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, sell-side analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup announced that its Board of Directors has authorized a stock repurchase program on Thursday, January 30th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the construction company to buy up to 6.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

PulteGroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Tuesday, March 18th. PulteGroup’s dividend payout ratio is currently 5.98%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. UBS Group boosted their price objective on PulteGroup from $148.00 to $151.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Oppenheimer cut their price objective 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. StockNews.com lowered shares of PulteGroup from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. cut their price target on shares of PulteGroup from $162.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, December 13th. Finally, Wells Fargo & Company decreased their price objective on PulteGroup from $165.00 to $140.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.86.

About PulteGroup

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.