PulteGroup, Inc. (NYSE:PHM) Shares Purchased by LPL Financial LLC

LPL Financial LLC grew its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 11.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 390,579 shares of the construction company's stock after purchasing an additional 39,321 shares during the period. LPL Financial LLC owned about 0.19% of PulteGroup worth $42,534,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Algert Global LLC boosted its holdings in PulteGroup by 19.6% in the third quarter. Algert Global LLC now owns 3,633 shares of the construction company's stock valued at $521,000 after purchasing an additional 596 shares during the period. Dai ichi Life Insurance Company Ltd purchased a new stake in shares of PulteGroup during the third quarter worth approximately $593,000. Townsquare Capital LLC raised its holdings in PulteGroup by 56.9% in the third quarter. Townsquare Capital LLC now owns 7,078 shares of the construction company's stock valued at $1,016,000 after acquiring an additional 2,567 shares in the last quarter. CreativeOne Wealth LLC lifted its stake in PulteGroup by 31.5% in the third quarter. CreativeOne Wealth LLC now owns 5,784 shares of the construction company's stock worth $830,000 after acquiring an additional 1,384 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in PulteGroup by 7.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,864,040 shares of the construction company's stock worth $267,546,000 after acquiring an additional 135,391 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company's stock.

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Insider Activity at PulteGroup

In related news, EVP Todd N. Sheldon sold 15,191 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $106.50, for a total transaction of $1,617,841.50. Following the sale, the executive vice president now owns 74,758 shares in the company, valued at approximately $7,961,727. This trade represents a 16.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 value of $372,400.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,191 shares of company stock valued at $2,256,367. 0.76% of the stock is owned by corporate insiders.

PulteGroup Stock Performance

PHM traded down $0.45 during trading on Tuesday, reaching $102.36. The company's stock had a trading volume of 742,337 shares, compared to its average volume of 1,944,771. The company's fifty day moving average price is $107.30 and its 200-day moving average price is $121.01. The company has a market capitalization of $20.72 billion, a price-to-earnings ratio of 6.95, a price-to-earnings-growth ratio of 0.29 and a beta of 1.71. PulteGroup, Inc. has a 52-week low of $99.58 and a 52-week high of $149.47. 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 (NYSE:PHM - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share (EPS) for the quarter, topping 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%. On average, equities analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup declared that its board has authorized a stock buyback program on Thursday, January 30th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the construction company to purchase up to 6.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

PulteGroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Tuesday, March 18th. PulteGroup's dividend payout ratio (DPR) is presently 5.98%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PHM shares. Barclays decreased their price objective on shares of PulteGroup from $125.00 to $117.00 and set an "equal weight" rating for the company in a research report on Friday, January 31st. Citigroup decreased their price target on PulteGroup from $146.00 to $119.00 and set a "neutral" rating for the company in a report on Monday, January 6th. JPMorgan Chase & Co. dropped their price objective on PulteGroup from $162.00 to $155.00 and set an "overweight" rating on the stock in a report on Friday, December 13th. Wedbush reaffirmed an "outperform" rating and issued a $135.00 price target on shares of PulteGroup in a report on Friday, January 31st. Finally, Bank of America dropped their price target on shares of PulteGroup from $135.00 to $134.00 and set a "buy" rating on the stock in a research note on Monday, January 27th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, PulteGroup presently has an average rating of "Moderate Buy" and a consensus price target of $140.86.

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.