Charles Schwab Investment Management Inc. Has $147.18 Million Stake in PulteGroup, Inc. (NYSE:PHM)

Charles Schwab Investment Management Inc. lifted its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 1.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,351,491 shares of the construction company’s stock after purchasing an additional 19,829 shares during the period. Charles Schwab Investment Management Inc. owned 0.66% of PulteGroup worth $147,177,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Logan Capital Management Inc. increased its stake in PulteGroup by 67.7% during the 3rd quarter. Logan Capital Management Inc. now owns 14,797 shares of the construction company’s stock valued at $2,124,000 after purchasing an additional 5,976 shares in the last quarter. Sanctuary Advisors LLC grew its stake in PulteGroup by 38.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 121,299 shares of the construction company’s stock valued at $17,410,000 after purchasing an additional 33,472 shares during the period. Trustmark National Bank Trust Department grew its stake in PulteGroup by 39.8% in the 3rd quarter. Trustmark National Bank Trust Department now owns 39,589 shares of the construction company’s stock valued at $5,682,000 after purchasing an additional 11,269 shares during the period. Systematic Financial Management LP boosted its holdings in shares of PulteGroup by 3.9% in the 3rd quarter. Systematic Financial Management LP now owns 130,257 shares of the construction company’s stock worth $18,696,000 after buying an additional 4,840 shares during the last quarter. Finally, Nilsine Partners LLC grew its position in PulteGroup by 929.2% during the fourth quarter. Nilsine Partners LLC now owns 20,574 shares of the construction company’s stock valued at $2,240,000 after buying an additional 18,575 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Price Performance

Shares of NYSE:PHM opened at $108.06 on Friday. The company has a 50 day moving average of $109.48 and a 200 day moving average of $124.10. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13. The stock has a market cap of $21.88 billion, a P/E ratio of 7.35, a P/E/G ratio of 0.29 and a beta of 1.71. PulteGroup, Inc. has a 12 month low of $100.54 and a 12 month high of $149.47.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, beating analysts’ consensus estimates 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 forecast that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup announced that its board has authorized a share buyback plan on Thursday, January 30th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the construction company to reacquire up to 6.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is 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 is Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a yield of 0.81%. PulteGroup’s dividend payout ratio is currently 5.98%.

Insider Buying and Selling at PulteGroup

In other news, Director Brian P. Anderson sold 2,500 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $106.45, for a total value of $266,125.00. Following the transaction, the director now owns 56,617 shares of the company’s stock, valued at $6,026,879.65. This represents a 4.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Todd N. Sheldon sold 15,191 shares of PulteGroup stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $106.50, for a total transaction of $1,617,841.50. Following the sale, the executive vice president now directly owns 74,758 shares of the company’s stock, 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 a total of 21,191 shares of company stock valued at $2,256,367 in the last 90 days. Corporate insiders own 0.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Citigroup lowered their price objective on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Wedbush reaffirmed an “outperform” rating and issued a $135.00 price target on shares of PulteGroup in a report on Friday, January 31st. UBS Group increased their price objective on PulteGroup from $148.00 to $151.00 and gave the company a “buy” rating in a report on Friday, January 31st. Barclays lowered their target price on PulteGroup from $125.00 to $117.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Finally, Bank of America dropped their price target 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 analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, PulteGroup presently has an average rating of “Moderate Buy” and an average price target 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.