Homestead Advisers Corp Grows Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Homestead Advisers Corp grew its position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 4.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 455,800 shares of the construction company's stock after buying an additional 17,400 shares during the period. Homestead Advisers Corp owned about 0.22% of PulteGroup worth $49,637,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hager Investment Management Services LLC acquired a new stake in PulteGroup during the fourth quarter valued at approximately $29,000. Fortitude Family Office LLC lifted its stake in PulteGroup by 74.1% in the 4th quarter. Fortitude Family Office LLC now owns 322 shares of the construction company's stock worth $35,000 after acquiring an additional 137 shares in the last quarter. R Squared Ltd acquired a new position in shares of PulteGroup in the 4th quarter valued at about $39,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of PulteGroup by 41.9% during the fourth 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 during the period. Finally, Oakworth Capital Inc. lifted its position in 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 buying an additional 411 shares in the last quarter. 89.90% of the stock is owned by institutional investors and hedge funds.

PulteGroup Stock Down 3.1 %

Shares of NYSE PHM traded down $3.28 during trading on Friday, hitting $101.76. 1,412,997 shares of the company traded hands, compared to its average volume of 1,950,286. 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 fifty-two week low of $100.35 and a fifty-two week high of $149.47. The business's fifty day moving average is $107.58 and its 200 day moving average is $121.31. The firm has a market capitalization of $20.60 billion, a price-to-earnings ratio of 6.92, a P/E/G ratio of 0.29 and a beta of 1.71.

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PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, beating analysts' consensus estimates of $3.28 by $0.22. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. Equities research analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup announced that its Board of Directors has authorized 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 purchase up to 6.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

PulteGroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.22 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 annualized dividend and a dividend yield of 0.86%. PulteGroup's dividend payout ratio is currently 5.98%.

Insiders Place Their Bets

In other news, VP Brien P. O'meara sold 3,500 shares of PulteGroup 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 of the company's stock, valued at approximately $1,209,980.80. The trade was a 23.53 % decrease in their position. The transaction 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 stock in a transaction on Monday, February 10th. The shares were sold at an average price of $106.45, for a total value of $266,125.00. Following the completion of the transaction, the director now directly owns 56,617 shares in the company, valued at approximately $6,026,879.65. This represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,191 shares of company stock worth $2,256,367 in the last quarter. 0.76% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PHM has been the topic of several analyst reports. Wedbush reissued an "outperform" rating and set a $135.00 target price on shares of PulteGroup in a research report on Friday, January 31st. The Goldman Sachs Group cut their target price on shares of PulteGroup from $140.00 to $124.00 and set a "neutral" rating for the company in a research note on Tuesday, January 14th. Wells Fargo & Company reduced their price objective on PulteGroup from $165.00 to $140.00 and set an "overweight" rating for the company in a research report on Tuesday, December 17th. Citigroup decreased their target price on shares of PulteGroup from $146.00 to $119.00 and set a "neutral" rating on the stock in a research report on Monday, January 6th. Finally, Barclays lowered their price objective on PulteGroup from $125.00 to $117.00 and set an "equal weight" rating on the stock in a research note on Friday, January 31st. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, PulteGroup currently has a consensus rating of "Moderate Buy" and a consensus target price 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.