Clearbridge Investments LLC Has $5.29 Million Holdings in PulteGroup, Inc. (NYSE:PHM)

Clearbridge Investments LLC increased its position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 15.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 48,583 shares of the construction company's stock after purchasing an additional 6,632 shares during the quarter. Clearbridge Investments LLC's holdings in PulteGroup were worth $5,291,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Public Sector Pension Investment Board boosted its stake in shares of PulteGroup by 10.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 8,617 shares of the construction company's stock valued at $1,237,000 after buying an additional 800 shares during the period. Rockefeller Capital Management L.P. increased its stake in PulteGroup by 8.6% in the third quarter. Rockefeller Capital Management L.P. now owns 42,291 shares of the construction company's stock valued at $6,066,000 after purchasing an additional 3,343 shares during the period. Benjamin Edwards Inc. increased its position in PulteGroup by 1,016.9% in the 3rd quarter. Benjamin Edwards Inc. now owns 2,714 shares of the construction company's stock valued at $390,000 after acquiring an additional 2,471 shares during the period. Janus Henderson Group PLC grew its stake in shares of PulteGroup by 7.4% in the 3rd quarter. Janus Henderson Group PLC now owns 30,624 shares of the construction company's stock valued at $4,395,000 after purchasing an additional 2,100 shares during the last quarter. Finally, IHT Wealth Management LLC purchased a new stake in shares of PulteGroup in the third quarter valued at about $247,000. 89.90% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

PulteGroup Stock Performance

Shares of PHM traded up $0.07 during midday trading on Tuesday, hitting $96.21. 391,007 shares of the stock traded hands, compared to its average volume of 2,290,104. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86. PulteGroup, Inc. has a 1-year low of $95.14 and a 1-year high of $149.47. The business's 50 day moving average price is $105.68 and its two-hundred day moving average price is $119.58. The firm has a market capitalization of $19.48 billion, a PE ratio of 6.54, a price-to-earnings-growth ratio of 0.29 and a beta of 1.44.

PulteGroup (NYSE:PHM - Get Free Report) last announced its quarterly earnings results 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%. Equities research analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup announced that its Board of Directors has approved a stock repurchase plan on Thursday, January 30th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the construction company to repurchase up to 6.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

PulteGroup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th were given a dividend of $0.22 per share. The ex-dividend date was Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a yield of 0.91%. PulteGroup's dividend payout ratio (DPR) is presently 5.98%.

Insider Transactions at PulteGroup

In other news, VP Brien P. O'meara sold 3,500 shares of the company's stock in a transaction that occurred on 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 sale, the vice president now directly owns 11,372 shares of the company's stock, valued at approximately $1,209,980.80. This represents a 23.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Brian P. Anderson sold 2,500 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $106.45, for a total transaction of $266,125.00. Following the transaction, the director now owns 56,617 shares in the company, valued at $6,026,879.65. This represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,191 shares of company stock valued at $2,256,367. 0.76% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Oppenheimer reduced their price target 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. Bank of America decreased their price target on PulteGroup from $135.00 to $134.00 and set a "buy" rating on the stock in a research note on Monday, January 27th. StockNews.com downgraded PulteGroup from a "buy" rating to a "hold" rating in a report on Wednesday, December 11th. Citigroup decreased their price objective on shares of PulteGroup from $146.00 to $119.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. Finally, Seaport Res Ptn upgraded PulteGroup from a "strong sell" rating to a "hold" rating in a report on Thursday, March 6th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average 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.