Pinnacle Wealth Management Advisory Group LLC Grows Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Pinnacle Wealth Management Advisory Group LLC grew its position in PulteGroup, Inc. (NYSE:PHM) by 22.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 9,131 shares of the construction company’s stock after purchasing an additional 1,700 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in PulteGroup were worth $994,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Logan Capital Management Inc. raised its stake in shares of PulteGroup by 67.7% in the 3rd quarter. Logan Capital Management Inc. now owns 14,797 shares of the construction company’s stock valued at $2,124,000 after acquiring an additional 5,976 shares during the period. Sanctuary Advisors LLC grew its holdings in shares of PulteGroup by 38.1% during the third quarter. Sanctuary Advisors LLC now owns 121,299 shares of the construction company’s stock valued at $17,410,000 after purchasing an additional 33,472 shares during the last quarter. Trustmark National Bank Trust Department grew its position in shares of PulteGroup by 39.8% during the third quarter. Trustmark National Bank Trust Department now owns 39,589 shares of the construction company’s stock worth $5,682,000 after acquiring an additional 11,269 shares during the last quarter. Systematic Financial Management LP raised its holdings in shares of PulteGroup by 3.9% during the third quarter. Systematic Financial Management LP now owns 130,257 shares of the construction company’s stock valued at $18,696,000 after buying an additional 4,840 shares during the last quarter. Finally, Nilsine Partners LLC lifted its holdings in PulteGroup by 929.2% in the fourth quarter. Nilsine Partners LLC now owns 20,574 shares of the construction company’s stock worth $2,240,000 after purchasing an additional 18,575 shares during the period. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Todd N. Sheldon sold 15,191 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 74,758 shares in the company, valued at $7,961,727. This represents a 16.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian P. Anderson sold 2,500 shares of PulteGroup stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $106.45, for a total value of $266,125.00. Following the completion of the sale, the director now directly owns 56,617 shares in the company, valued at $6,026,879.65. This represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,191 shares of company stock worth $2,256,367. Company insiders own 0.83% of the company’s stock.

PulteGroup Stock Performance

PHM stock opened at $107.45 on Monday. PulteGroup, Inc. has a twelve month low of $100.24 and a twelve month high of $149.47. The company has a quick ratio of 0.73, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. The company has a market cap of $22.04 billion, a P/E ratio of 7.30, a price-to-earnings-growth ratio of 0.29 and a beta of 1.68. The business’s fifty day moving average is $112.63 and its 200-day moving average is $126.12.

PulteGroup (NYSE:PHM) last issued its earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share (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%. Equities research analysts forecast that PulteGroup, Inc. will post 12.43 EPS for the current year.

PulteGroup declared that its Board of Directors has approved 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 purchase up to 6.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

PulteGroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Tuesday, March 18th. PulteGroup’s payout ratio is presently 5.98%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PHM. StockNews.com downgraded PulteGroup from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Barclays cut their target price on shares of PulteGroup from $125.00 to $117.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Bank of America reduced their price target on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating for the company in a research report on Monday, January 27th. Citigroup lowered their price objective on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Finally, Wedbush reissued an “outperform” rating and set a $135.00 target price on shares of PulteGroup in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $140.86.

PulteGroup Company 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.