Proficio Capital Partners LLC Purchases New Holdings in PulteGroup, Inc. (NYSE:PHM)

Proficio Capital Partners LLC acquired a new position in PulteGroup, Inc. (NYSE:PHM - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 73,181 shares of the construction company's stock, valued at approximately $73,000.

Several other hedge funds have also modified their holdings of the company. Hager Investment Management Services LLC acquired a new position in PulteGroup in the 4th quarter worth about $29,000. Fortitude Family Office LLC raised its stake 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 during the period. R Squared Ltd purchased a new position in shares of PulteGroup during the 4th quarter valued at approximately $39,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in PulteGroup by 41.9% in the 4th 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 during the period. Finally, Oakworth Capital Inc. increased its holdings 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 acquiring an additional 411 shares in the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Trading Up 1.0 %

NYSE:PHM traded up $1.03 during trading hours on Monday, reaching $103.97. 1,527,862 shares of the stock were exchanged, compared to its average volume of 1,851,616. PulteGroup, Inc. has a twelve month low of $100.54 and a twelve month high of $149.47. The business has a 50-day moving average of $109.01 and a two-hundred day moving average of $123.08. The company has a market capitalization of $21.05 billion, a price-to-earnings ratio of 7.07, a PEG ratio of 0.29 and a beta of 1.71. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13.

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PulteGroup (NYSE:PHM - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, topping the consensus estimate of $3.28 by $0.22. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. On average, equities analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Dividend Announcement

The business 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 dividend of $0.22 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 annualized dividend and a yield of 0.85%. PulteGroup's dividend payout ratio (DPR) is 5.98%.

PulteGroup declared that its Board of Directors has initiated 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 repurchase up to 6.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Bank of America dropped their target price on shares of PulteGroup from $135.00 to $134.00 and set a "buy" rating on the stock in a research report on Monday, January 27th. Citigroup cut their price objective on PulteGroup from $146.00 to $119.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. Barclays decreased their target price on PulteGroup from $125.00 to $117.00 and set an "equal weight" rating on the stock in a research report on Friday, January 31st. Seaport Res Ptn upgraded PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 6th. Finally, Wells Fargo & Company decreased their price objective on PulteGroup from $165.00 to $140.00 and set an "overweight" rating on the stock in a report on Tuesday, December 17th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, PulteGroup has a consensus rating of "Moderate Buy" and an average target price of $140.86.

Insider Buying and Selling at PulteGroup

In other news, VP Brien P. O'meara sold 3,500 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $106.40, for a total value 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. This represents a 23.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Todd N. Sheldon sold 15,191 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $106.50, for a total transaction of $1,617,841.50. Following the transaction, 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 disclosure for this sale can be found here. Insiders have sold 21,191 shares of company stock valued at $2,256,367 in the last quarter. Corporate insiders own 0.83% of the company's stock.

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.