Franklin Resources Inc. Boosts Holdings in PulteGroup, Inc. (NYSE:PHM)

Franklin Resources Inc. lifted its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 6.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 11,937,866 shares of the construction company's stock after acquiring an additional 683,592 shares during the quarter. Franklin Resources Inc. owned 5.82% of PulteGroup worth $1,300,034,000 at the end of the most recent reporting period.

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

Insider Transactions at PulteGroup

In other news, EVP Todd N. Sheldon sold 15,191 shares of the company's stock in a transaction dated 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 directly owns 74,758 shares of the company's stock, valued at approximately $7,961,727. This represents a 16.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Brien P. O'meara sold 3,500 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $106.40, for a total transaction of $372,400.00. Following the sale, the vice president now owns 11,372 shares of the company's stock, valued at $1,209,980.80. This trade represents a 23.53 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,191 shares of company stock worth $2,256,367. Insiders own 0.76% of the company's stock.

Remove Ads

PulteGroup Stock Performance

PHM traded up $3.91 on Friday, reaching $101.66. The company had a trading volume of 1,837,234 shares, compared to its average volume of 1,952,998. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a 1 year low of $93.16 and a 1 year high of $149.47. The stock has a market capitalization of $20.58 billion, a PE ratio of 6.91, a P/E/G ratio of 0.29 and a beta of 1.44. The stock has a 50-day moving average price of $106.41 and a 200-day moving average price of $120.48.

PulteGroup (NYSE:PHM - Get Free Report) last posted its earnings results 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%. As a group, research analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup announced that its board has authorized a share repurchase program on Thursday, January 30th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the construction company to purchase up to 6.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.

PulteGroup Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.87%. The ex-dividend date was Tuesday, March 18th. PulteGroup's payout ratio is currently 5.98%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. The Goldman Sachs Group cut their price objective on PulteGroup from $140.00 to $124.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 14th. Seaport Res Ptn raised PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 6th. Oppenheimer lowered their price objective on PulteGroup from $165.00 to $150.00 and set an "outperform" rating for the company in a research report on Friday, January 31st. UBS Group raised their target price on shares of PulteGroup from $148.00 to $151.00 and gave the company a "buy" rating in a report on Friday, January 31st. Finally, Citigroup lowered their price target on shares of PulteGroup from $146.00 to $119.00 and set a "neutral" rating for the company in a report on Monday, January 6th. Seven equities research 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.com, the company presently has a consensus 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.