PulteGroup, Inc. (NYSE:PHM) Shares Sold by Arete Wealth Advisors LLC

Arete Wealth Advisors LLC reduced its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 16.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,549 shares of the construction company's stock after selling 3,364 shares during the quarter. Arete Wealth Advisors LLC's holdings in PulteGroup were worth $1,802,000 at the end of the most recent quarter.

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

Insider Activity

In related news, Director Brian P. Anderson sold 2,500 shares of PulteGroup 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 completion of the transaction, the director now directly owns 56,617 shares in the company, valued at approximately $6,026,879.65. This trade represents a 4.23 % 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, EVP Todd N. Sheldon sold 15,191 shares of the firm's stock in a transaction 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 represents a 16.89 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,191 shares of company stock worth $2,256,367. 0.76% of the stock is currently owned by corporate insiders.

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PulteGroup Price Performance

Shares of NYSE:PHM traded up $5.02 during mid-day trading on Wednesday, reaching $97.04. The stock had a trading volume of 3,324,397 shares, compared to its average volume of 1,982,256. The business's 50 day moving average price is $104.03 and its 200 day moving average price is $118.56. PulteGroup, Inc. has a 1 year low of $88.07 and a 1 year 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 company has a market cap of $19.65 billion, a P/E ratio of 6.60, a price-to-earnings-growth ratio of 0.29 and a beta of 1.44.

PulteGroup (NYSE:PHM - Get Free Report) last announced its earnings results on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, topping 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%. Research analysts expect that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup declared that its Board of Directors has authorized a share buyback plan 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 shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its stock is undervalued.

PulteGroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.91%. The ex-dividend date was Tuesday, March 18th. PulteGroup's dividend payout ratio is presently 5.98%.

Wall Street Analyst Weigh In

Several research firms have weighed in on PHM. Seaport Res Ptn raised PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 6th. Wedbush reaffirmed an "outperform" rating and issued a $135.00 price objective on shares of PulteGroup in a research report on Friday, January 31st. JPMorgan Chase & Co. reduced their price target on shares of PulteGroup from $162.00 to $155.00 and set an "overweight" rating for the company in a research note on Friday, December 13th. 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. Finally, The Goldman Sachs Group decreased their price target on shares of PulteGroup from $140.00 to $124.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, PulteGroup has an average rating of "Moderate Buy" and a consensus target price 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.