Westover Capital Advisors LLC Sells 2,521 Shares of PulteGroup, Inc. (NYSE:PHM)

Westover Capital Advisors LLC cut its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 19.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,151 shares of the construction company's stock after selling 2,521 shares during the period. Westover Capital Advisors LLC's holdings in PulteGroup were worth $1,105,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of PHM. Transcendent Capital Group LLC acquired a new stake in PulteGroup in the third quarter worth about $29,000. Hager Investment Management Services LLC bought a new position in shares of PulteGroup in the 4th quarter valued at about $29,000. Fortitude Family Office LLC grew 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 during the period. R Squared Ltd bought a new stake in shares of PulteGroup during the fourth quarter worth approximately $39,000. Finally, JNBA Financial Advisors acquired a new position in PulteGroup in the third quarter valued at approximately $43,000. 89.90% of the stock is owned by institutional investors.

PulteGroup Stock Down 0.2 %

Shares of PulteGroup stock traded down $0.21 on Friday, hitting $108.06. The company had a trading volume of 2,461,674 shares, compared to its average volume of 2,295,283. The stock has a 50-day moving average of $109.51 and a 200-day moving average of $124.21. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. PulteGroup, Inc. has a twelve month low of $100.54 and a twelve month high of $149.47. The firm has a market capitalization of $21.88 billion, a P/E ratio of 7.35, a P/E/G ratio of 0.29 and a beta of 1.71.

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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, topping 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%. Research analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors 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 dividend on an annualized basis and a dividend yield of 0.81%. PulteGroup's payout ratio is presently 5.98%.

PulteGroup announced that its board has initiated a share repurchase 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 buy up to 6.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PHM. StockNews.com lowered shares of PulteGroup from a "buy" rating to a "hold" rating in a report on Wednesday, December 11th. Barclays decreased their price objective on PulteGroup from $125.00 to $117.00 and set an "equal weight" rating for the company in a research note on Friday, January 31st. Wells Fargo & Company cut their target price on PulteGroup from $165.00 to $140.00 and set an "overweight" rating on the stock in a research note on Tuesday, December 17th. Seaport Res Ptn upgraded PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Thursday. Finally, Wedbush reaffirmed an "outperform" rating and issued a $135.00 price target on shares of PulteGroup 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $140.86.

Insider Activity at PulteGroup

In other news, Director Brian P. Anderson sold 2,500 shares of PulteGroup stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $106.45, for a total value of $266,125.00. Following the sale, the director now directly owns 56,617 shares in the company, valued at $6,026,879.65. This trade represents a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Todd N. Sheldon sold 15,191 shares of the business's stock in a transaction 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 completion of the sale, the executive vice president now directly 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 have sold 21,191 shares of company stock valued at $2,256,367. 0.75% of the stock is owned by insiders.

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.