Moran Wealth Management LLC Lowers Holdings in PulteGroup, Inc. (NYSE:PHM)

Moran Wealth Management LLC cut its holdings in PulteGroup, Inc. (NYSE:PHM - Free Report) by 2.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 248,180 shares of the construction company's stock after selling 6,906 shares during the quarter. PulteGroup accounts for approximately 0.9% of Moran Wealth Management LLC's investment portfolio, making the stock its 21st largest position. Moran Wealth Management LLC owned 0.12% of PulteGroup worth $27,027,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of PHM. Ashton Thomas Private Wealth LLC grew its stake in shares of PulteGroup by 3.0% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 3,054 shares of the construction company's stock worth $438,000 after buying an additional 88 shares in the last quarter. Richardson Financial Services Inc. grew its position in PulteGroup by 16.7% in the fourth quarter. Richardson Financial Services Inc. now owns 622 shares of the construction company's stock worth $68,000 after acquiring an additional 89 shares in the last quarter. Premier Path Wealth Partners LLC increased its stake in PulteGroup by 3.8% during the fourth quarter. Premier Path Wealth Partners LLC now owns 2,572 shares of the construction company's stock worth $280,000 after acquiring an additional 95 shares during the last quarter. Meridian Wealth Management LLC raised its position in PulteGroup by 0.7% during the fourth quarter. Meridian Wealth Management LLC now owns 13,224 shares of the construction company's stock valued at $1,440,000 after purchasing an additional 95 shares during the period. Finally, Verdence Capital Advisors LLC raised its position in PulteGroup by 2.8% during the third quarter. Verdence Capital Advisors LLC now owns 3,598 shares of the construction company's stock valued at $516,000 after purchasing an additional 97 shares during the period. Institutional investors own 89.90% of the company's stock.

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PulteGroup Stock Down 2.5 %

Shares of PHM traded down $2.63 during midday trading on Thursday, reaching $100.90. 2,211,822 shares of the stock were exchanged, compared to its average volume of 1,868,499. 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's 50 day moving average is $109.29 and its two-hundred day moving average is $123.56. The company has a market capitalization of $20.43 billion, a P/E ratio of 6.86, a PEG ratio of 0.29 and a beta of 1.71. PulteGroup, Inc. has a 52 week low of $100.54 and a 52 week high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last posted its 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 net margin of 17.18% and a return on equity of 24.43%. On average, sell-side analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

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

PulteGroup Announces Dividend

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 paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Tuesday, March 18th. PulteGroup's dividend payout ratio (DPR) is currently 5.98%.

Insider Activity at PulteGroup

In related news, VP Brien P. O'meara sold 3,500 shares of the stock in a transaction that occurred 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 directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Brian P. Anderson sold 2,500 shares of the business's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $106.45, for a total transaction of $266,125.00. Following the sale, 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 have sold a total of 21,191 shares of company stock valued at $2,256,367 over the last quarter. 0.83% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PHM shares. JPMorgan Chase & Co. cut their target price on PulteGroup from $162.00 to $155.00 and set an "overweight" rating on the stock in a research report on Friday, December 13th. UBS Group boosted their price objective on shares of PulteGroup from $148.00 to $151.00 and gave the company a "buy" rating in a research report on Friday, January 31st. Wells Fargo & Company lowered their target price on shares of PulteGroup from $165.00 to $140.00 and set an "overweight" rating for the company in a report on Tuesday, December 17th. Citigroup cut their price target on shares of PulteGroup from $146.00 to $119.00 and set a "neutral" rating on the stock in a report on Monday, January 6th. Finally, 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 note on Friday, January 31st. Seven 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 stock has a consensus rating of "Moderate Buy" and an average 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.