Kovitz Investment Group Partners LLC trimmed its stake in shares of PulteGroup, Inc. (NYSE:PHM – Get Rating) by 63.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 33,340 shares of the construction company’s stock after selling 57,570 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in PulteGroup were worth $1,438,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Sugarloaf Wealth Management LLC increased its position in PulteGroup by 303.2% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 504 shares of the construction company’s stock valued at $29,000 after acquiring an additional 379 shares during the period. Newbridge Financial Services Group Inc. acquired a new stake in PulteGroup in the 4th quarter valued at approximately $39,000. Allworth Financial LP increased its position in PulteGroup by 60.7% in the 3rd quarter. Allworth Financial LP now owns 903 shares of the construction company’s stock valued at $41,000 after acquiring an additional 341 shares during the period. First Command Financial Services Inc. increased its position in PulteGroup by 125.0% in the 4th quarter. First Command Financial Services Inc. now owns 900 shares of the construction company’s stock valued at $51,000 after acquiring an additional 500 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in PulteGroup in the 3rd quarter valued at approximately $52,000. Institutional investors and hedge funds own 87.34% of the company’s stock.
Shares of PHM traded up $1.33 during trading hours on Tuesday, hitting $43.40. 44,055 shares of the company were exchanged, compared to its average volume of 3,072,797. The company has a market capitalization of $10.48 billion, a PE ratio of 5.64, a PEG ratio of 0.45 and a beta of 1.42. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a fifty day simple moving average of $45.79 and a 200-day simple moving average of $49.82. PulteGroup, Inc. has a one year low of $39.61 and a one year high of $63.90.
PulteGroup announced that its Board of Directors has initiated a stock buyback program on Tuesday, February 1st that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the construction company to purchase up to 7.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 5th. Stockholders of record on Tuesday, March 15th were given a $0.15 dividend. The ex-dividend date was Monday, March 14th. This represents a $0.60 annualized dividend and a dividend yield of 1.38%. PulteGroup’s dividend payout ratio (DPR) is presently 8.04%.
In other news, VP John J. Chadwick sold 15,090 shares of the firm’s stock in a transaction on Monday, February 28th. The stock was sold at an average price of $49.05, for a total value of $740,164.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.71% of the company’s stock.
Several research firms recently commented on PHM. Zacks Investment Research cut PulteGroup from a “buy” rating to a “hold” rating and set a $45.00 target price on the stock. in a research report on Tuesday, April 5th. StockNews.com started coverage on PulteGroup in a research note on Thursday, March 31st. They set a “buy” rating for the company. UBS Group raised PulteGroup from a “neutral” rating to a “buy” rating and increased their price target for the company from $63.00 to $70.00 in a research note on Thursday, February 3rd. Credit Suisse Group started coverage on PulteGroup in a research note on Tuesday, April 5th. They set an “outperform” rating and a $52.00 price target for the company. Finally, Bank of America raised PulteGroup from an “underperform” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Monday, February 28th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, PulteGroup has an average rating of “Buy” and an average target price of $57.25.
PulteGroup Company Profile (Get Rating)
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, American West, and John Wieland Homes and Neighborhoods brand names.
- Get a free copy of the StockNews.com research report on PulteGroup (PHM)
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