National Bank of Canada FI Has $12.59 Million Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

National Bank of Canada FI lowered its holdings in PulteGroup, Inc. (NYSE:PHM - Free Report) by 13.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 115,585 shares of the construction company's stock after selling 18,511 shares during the period. National Bank of Canada FI owned about 0.06% of PulteGroup worth $12,587,000 at the end of the most recent reporting period.

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

PulteGroup Stock Performance

PulteGroup stock traded down $5.18 during trading hours on Thursday, reaching $91.99. 470,889 shares of the company were exchanged, compared to its average volume of 2,310,743. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $149.47. 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 stock has a 50-day moving average of $104.03 and a 200 day moving average of $118.56. The firm has a market cap of $18.62 billion, a price-to-earnings ratio of 6.26, a PEG ratio of 0.29 and a beta of 1.44.

Remove Ads

PulteGroup (NYSE:PHM - Get Free Report) last announced 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 anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

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

PulteGroup Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th were issued a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.88 annualized dividend and a yield of 0.96%. PulteGroup's dividend payout ratio (DPR) is 5.98%.

Insider Transactions at PulteGroup

In other news, Director Brian P. Anderson sold 2,500 shares of the stock in a transaction 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 owns 56,617 shares in the company, valued at approximately $6,026,879.65. This represents a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Brien P. O'meara sold 3,500 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $106.40, for a total transaction 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,191 shares of company stock valued at $2,256,367. 0.76% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PHM. JPMorgan Chase & Co. decreased their price target on PulteGroup from $162.00 to $155.00 and set an "overweight" rating for the company in a research note on Friday, December 13th. Oppenheimer dropped their price target on shares of PulteGroup from $165.00 to $150.00 and set an "outperform" rating on the stock in a research report on Friday, January 31st. Seaport Res Ptn upgraded shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 6th. Wells Fargo & Company dropped their target price on shares of PulteGroup from $165.00 to $140.00 and set an "overweight" rating on the stock in a report on Tuesday, December 17th. Finally, UBS Group upped their price target on PulteGroup from $148.00 to $151.00 and gave the company a "buy" rating in a report on Friday, January 31st. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $139.64.

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.