Guggenheim Capital LLC Trims Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Guggenheim Capital LLC lowered its position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 77.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,532 shares of the construction company's stock after selling 32,631 shares during the quarter. Guggenheim Capital LLC's holdings in PulteGroup were worth $1,038,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Hager Investment Management Services LLC purchased a new position in PulteGroup during the 4th quarter valued at about $29,000. Fortitude Family Office LLC increased its stake in shares of PulteGroup by 74.1% during 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 position in shares of PulteGroup during the fourth quarter valued at approximately $39,000. Thurston Springer Miller Herd & Titak Inc. boosted its position 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 worth $48,000 after purchasing an additional 131 shares in the last quarter. Finally, Oakworth Capital Inc. boosted its position in shares of PulteGroup by 642.2% in the 4th quarter. Oakworth Capital Inc. now owns 475 shares of the construction company's stock worth $52,000 after purchasing an additional 411 shares in the last quarter. Institutional investors own 89.90% of the company's stock.

PulteGroup Stock Up 8.3 %

PulteGroup stock opened at $100.82 on Wednesday. PulteGroup, Inc. has a one year low of $88.07 and a one year high of $149.47. The stock has a fifty day moving average of $101.66 and a 200 day moving average of $115.60. 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 stock has a market cap of $20.41 billion, a PE ratio of 6.85, a price-to-earnings-growth ratio of 0.29 and a beta of 1.44.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The construction company reported $2.57 EPS for the quarter, beating the consensus estimate of $2.47 by $0.10. The firm had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.86 billion. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. During the same quarter in the prior year, the firm earned $3.10 EPS. As a group, sell-side analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup announced that its board has approved a share repurchase program on Thursday, January 30th that permits the company to buyback $1.50 billion in outstanding 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 often an indication that the company's management believes its shares are undervalued.

PulteGroup Dividend Announcement

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

Insider Activity

In other news, EVP Todd N. Sheldon sold 15,191 shares of the firm's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $106.50, for a total value of $1,617,841.50. Following the transaction, the executive vice president now owns 74,758 shares of the company's stock, valued at $7,961,727. This trade represents a 16.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brian P. Anderson sold 2,500 shares of PulteGroup stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $106.45, for a total value of $266,125.00. Following the transaction, the director now directly owns 56,617 shares in the company, valued at approximately $6,026,879.65. The trade was a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,191 shares of company stock valued at $2,256,367 in the last 90 days. Company insiders own 0.76% of the company's stock.

Wall Street Analyst Weigh In

PHM has been the subject of a number of recent research reports. Bank of America lowered their price objective on PulteGroup from $135.00 to $134.00 and set a "buy" rating for the company in a research note on Monday, January 27th. Barclays lowered their price target on PulteGroup from $117.00 to $100.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Seaport Res Ptn raised shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 6th. Wells Fargo & Company decreased their target price on shares of PulteGroup from $140.00 to $120.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Finally, UBS Group increased their price target on shares of PulteGroup from $148.00 to $151.00 and gave the company a "buy" rating in a report on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, PulteGroup presently has an average rating of "Moderate Buy" and an average price target of $138.21.

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.

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