Wellington Management Group LLP Trims Position in PulteGroup, Inc. (NYSE:PHM)

Wellington Management Group LLP trimmed its position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 36.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 22,534 shares of the construction company's stock after selling 12,657 shares during the quarter. Wellington Management Group LLP's holdings in PulteGroup were worth $2,454,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other news, VP Brien P. O'meara sold 3,500 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $106.40, 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 $1,209,980.80. This trade represents a 23.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Todd N. Sheldon sold 15,191 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $106.50, for a total value of $1,617,841.50. Following the sale, the executive vice president now owns 74,758 shares in the company, valued at $7,961,727. The trade was a 16.89 % 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 in the last quarter. 0.76% of the stock is currently owned by insiders.

Remove Ads

PulteGroup Price Performance

Shares of PHM stock traded down $0.63 during mid-day trading on Tuesday, hitting $94.81. The company had a trading volume of 1,725,836 shares, compared to its average volume of 1,988,945. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. The stock's 50 day moving average price is $103.07 and its 200-day moving average price is $117.40. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $149.47. The company has a market capitalization of $19.20 billion, a P/E ratio of 6.45, a P/E/G ratio of 0.29 and a beta of 1.44.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, beating 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%. Equities research analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup declared that its board has approved a share repurchase plan on Thursday, January 30th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the construction company to reacquire up to 6.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its stock is undervalued.

PulteGroup Announces Dividend

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 dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend was Tuesday, March 18th. PulteGroup's dividend payout ratio is presently 5.98%.

Analysts Set New Price Targets

PHM has been the topic of several research reports. Seaport Res Ptn raised PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 6th. Barclays dropped their price objective on shares of PulteGroup from $117.00 to $100.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. The Goldman Sachs Group reduced their target price on shares of PulteGroup from $140.00 to $124.00 and set a "neutral" rating for the company in a report on Tuesday, January 14th. Wells Fargo & Company dropped their price target on shares of PulteGroup from $140.00 to $120.00 and set an "overweight" rating on the stock in a research note on Monday. Finally, Bank of America lowered their target price on PulteGroup from $135.00 to $134.00 and set a "buy" rating on the stock in a research report on Monday, January 27th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $138.21.

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.