PulteGroup, Inc. (NYSE:PHM) Shares Sold by Elk River Wealth Management LLC

Elk River Wealth Management LLC reduced its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 0.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 84,349 shares of the construction company’s stock after selling 301 shares during the period. PulteGroup makes up approximately 1.7% of Elk River Wealth Management LLC’s portfolio, making the stock its 16th biggest holding. Elk River Wealth Management LLC’s holdings in PulteGroup were worth $9,204,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Fortitude Family Office LLC grew its position in shares of PulteGroup by 115.1% during the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock valued at $27,000 after acquiring an additional 99 shares during the period. Transcendent Capital Group LLC acquired a new stake in shares of PulteGroup during the 3rd quarter valued at about $29,000. Hager Investment Management Services LLC acquired a new stake in shares of PulteGroup during the 4th quarter valued at about $29,000. R Squared Ltd acquired a new stake in shares of PulteGroup during the 4th quarter valued at about $39,000. Finally, JNBA Financial Advisors acquired a new stake in shares of PulteGroup during the 3rd quarter valued at about $43,000. 89.90% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at PulteGroup

In related 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 completion of the sale, the director now owns 56,617 shares in the company, valued at approximately $6,026,879.65. This trade represents a 4.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Todd N. Sheldon sold 15,191 shares of PulteGroup stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 74,758 shares of the company’s stock, valued at $7,961,727. This trade represents a 16.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,191 shares of company stock worth $2,256,367 in the last 90 days. Insiders own 0.75% of the company’s stock.

PulteGroup Stock Down 0.7 %

Shares of NYSE PHM opened at $104.81 on Thursday. The company has a 50 day simple moving average of $111.82 and a 200-day simple moving average of $125.77. The company has a market capitalization of $21.22 billion, a P/E ratio of 7.13, a P/E/G ratio of 0.29 and a beta of 1.68. 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 1 year low of $100.24 and a 1 year high of $149.47.

PulteGroup (NYSE:PHM) last announced its quarterly 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 net margin of 17.18% and a return on equity of 24.43%. On average, equities research analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup announced that its board has authorized a stock buyback plan on Thursday, January 30th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the construction company to buy up to 6.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

PulteGroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.84%. PulteGroup’s dividend payout ratio is currently 5.98%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PHM. JPMorgan Chase & Co. decreased their price target on shares of PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a research note on Friday, December 13th. Barclays decreased their price target 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. Seaport Res Ptn lowered shares of PulteGroup from a “hold” rating to a “strong sell” rating in a research note on Monday, January 27th. Evercore ISI decreased their price target on shares of PulteGroup from $198.00 to $195.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Finally, UBS Group raised their price target on shares of PulteGroup from $148.00 to $151.00 and gave the company a “buy” rating in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $140.86.

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.