Harvest Fund Management Co. Ltd Has $156,000 Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Harvest Fund Management Co. Ltd cut its holdings in PulteGroup, Inc. (NYSE:PHM) by 75.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,433 shares of the construction company’s stock after selling 4,508 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in PulteGroup were worth $156,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hager Investment Management Services LLC acquired a new stake in shares of PulteGroup in the fourth quarter valued at $29,000. Fortitude Family Office LLC increased its position in PulteGroup by 74.1% in the fourth quarter. Fortitude Family Office LLC now owns 322 shares of the construction company’s stock worth $35,000 after purchasing an additional 137 shares during the period. R Squared Ltd acquired a new stake in PulteGroup in the fourth quarter worth about $39,000. Thurston Springer Miller Herd & Titak Inc. increased its position in PulteGroup by 41.9% in the fourth 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 period. Finally, Oakworth Capital Inc. increased its position in PulteGroup by 642.2% in the fourth quarter. Oakworth Capital Inc. now owns 475 shares of the construction company’s stock worth $52,000 after purchasing an additional 411 shares during the period. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PHM has been the subject of a number of research reports. UBS Group lifted 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. The Goldman Sachs Group lowered their price objective on PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Barclays lowered their price objective on PulteGroup from $125.00 to $117.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Seaport Res Ptn upgraded PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 6th. Finally, Wedbush restated an “outperform” rating and set a $135.00 target price on shares of PulteGroup in a research report on Friday, January 31st. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, PulteGroup presently has a consensus rating of “Moderate Buy” and an average price target of $140.86.

Insider Buying and Selling at PulteGroup

In other PulteGroup news, VP Brien P. O’meara sold 3,500 shares of the business’s stock in a transaction that occurred 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 sale, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Todd N. Sheldon sold 15,191 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $106.50, for a total value 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. The trade was a 16.89 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,191 shares of company stock worth $2,256,367. Corporate insiders own 0.83% of the company’s stock.

PulteGroup Trading Down 2.2 %

NYSE:PHM opened at $103.04 on Friday. PulteGroup, Inc. has a fifty-two week low of $100.35 and a fifty-two week high of $149.47. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $20.86 billion, a PE ratio of 7.00, a price-to-earnings-growth ratio of 0.29 and a beta of 1.71. The business’s 50-day simple moving average is $108.54 and its 200-day simple moving average is $122.21.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.22. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. Sell-side analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The company 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. This represents a $0.88 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Tuesday, March 18th. PulteGroup’s payout ratio is 5.98%.

PulteGroup declared that its board has authorized a stock buyback program on Thursday, January 30th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 6.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

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.