Corient Private Wealth LLC Reduces Holdings in PulteGroup, Inc. (NYSE:PHM)

Corient Private Wealth LLC decreased its stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 19.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 114,124 shares of the construction company's stock after selling 27,443 shares during the quarter. Corient Private Wealth LLC owned approximately 0.06% of PulteGroup worth $12,428,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Frank Rimerman Advisors LLC raised its holdings in shares of PulteGroup by 27.6% in the fourth quarter. Frank Rimerman Advisors LLC now owns 1,856 shares of the construction company's stock worth $202,000 after acquiring an additional 402 shares during the last quarter. Madison Investment Advisors LLC purchased a new stake in PulteGroup during the fourth quarter valued at about $233,000. Commonwealth Equity Services LLC lifted its stake in shares of PulteGroup by 0.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 61,570 shares of the construction company's stock worth $6,705,000 after purchasing an additional 337 shares in the last quarter. Vestcor Inc lifted its stake in shares of PulteGroup by 5.3% during the fourth quarter. Vestcor Inc now owns 14,474 shares of the construction company's stock worth $1,576,000 after purchasing an additional 726 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of PulteGroup in the fourth quarter worth about $2,141,000. 89.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity at PulteGroup

In related news, EVP Todd N. Sheldon sold 15,191 shares of the business's stock in a transaction 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 sale, the executive vice president now directly owns 74,758 shares of the company's stock, valued at approximately $7,961,727. The trade was a 16.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Brien P. O'meara sold 3,500 shares of the business's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $106.40, for a total transaction of $372,400.00. Following the completion of the sale, the vice president now directly owns 11,372 shares in the company, 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. In the last ninety days, insiders have sold 21,191 shares of company stock valued at $2,256,367. 0.83% of the stock is owned by corporate insiders.

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PulteGroup Price Performance

Shares of PulteGroup stock traded down $2.30 during midday trading on Friday, reaching $103.04. The company had a trading volume of 8,818,398 shares, compared to its average volume of 1,878,507. 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 company has a market capitalization of $20.86 billion, a price-to-earnings ratio of 7.00, a price-to-earnings-growth ratio of 0.29 and a beta of 1.71. The stock has a fifty day simple moving average of $108.54 and a 200 day simple moving average of $122.21. PulteGroup, Inc. has a 1-year low of $100.35 and a 1-year high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last released its earnings results on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, topping 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, equities research analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup declared that its Board of Directors has initiated a share repurchase plan on Thursday, January 30th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to repurchase up to 6.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be given a $0.22 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 annualized dividend and a yield of 0.85%. PulteGroup's dividend payout ratio is currently 5.98%.

Analyst Ratings Changes

Several research firms recently commented on PHM. Citigroup cut their price target on PulteGroup from $146.00 to $119.00 and set a "neutral" rating on the stock in a research note on Monday, January 6th. Oppenheimer lowered their target price on PulteGroup from $165.00 to $150.00 and set an "outperform" rating for the company in a report on Friday, January 31st. Wells Fargo & Company lowered their target price on PulteGroup from $165.00 to $140.00 and set an "overweight" rating for the company in a report on Tuesday, December 17th. Barclays lowered their target price on PulteGroup from $125.00 to $117.00 and set an "equal weight" rating for the company in a report on Friday, January 31st. Finally, StockNews.com lowered PulteGroup from a "buy" rating to a "hold" rating in a report on Wednesday, December 11th. Seven investment 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 company has a consensus rating of "Moderate Buy" and a consensus price target of $140.86.

PulteGroup 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.