Summit Financial LLC Has $204,000 Stake in PulteGroup, Inc. (NYSE:PHM)

Summit Financial LLC grew its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 22.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,869 shares of the construction company’s stock after acquiring an additional 344 shares during the period. Summit Financial LLC’s holdings in PulteGroup were worth $204,000 as of its most recent SEC filing.

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

Insider Activity at PulteGroup

In related news, Director Brian P. Anderson sold 2,500 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 56,617 shares in the company, valued at approximately $6,026,879.65. This represents a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 directly owns 11,372 shares of the company’s stock, valued at $1,209,980.80. This represents a 23.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,191 shares of company stock worth $2,256,367. 0.76% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. reduced 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. StockNews.com downgraded PulteGroup from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Wedbush reaffirmed an “outperform” rating and set a $135.00 price target on shares of PulteGroup in a research note on Friday, January 31st. Seaport Res Ptn raised PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 6th. Finally, Bank of America lowered their target price 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $140.86.

PulteGroup Trading Up 3.4 %

Shares of PHM stock opened at $101.05 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. The company has a market capitalization of $20.46 billion, a price-to-earnings ratio of 6.87, a PEG ratio of 0.29 and a beta of 1.44. PulteGroup, Inc. has a 52-week low of $95.14 and a 52-week high of $149.47. The company has a 50-day simple moving average of $106.12 and a two-hundred day simple moving average of $120.21.

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

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

PulteGroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date was Tuesday, March 18th. PulteGroup’s dividend payout ratio (DPR) 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.