SVB Wealth LLC Invests $329,000 in PulteGroup, Inc. (NYSE:PHM)

SVB Wealth LLC bought a new stake in PulteGroup, Inc. (NYSE:PHM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,024 shares of the construction company’s stock, valued at approximately $329,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Transcendent Capital Group LLC bought a new position in shares of PulteGroup in the 3rd quarter worth approximately $29,000. Hager Investment Management Services LLC purchased a new stake in PulteGroup during the fourth quarter valued at approximately $29,000. Fortitude Family Office LLC raised its position in PulteGroup by 74.1% in the fourth quarter. Fortitude Family Office LLC now owns 322 shares of the construction company’s stock worth $35,000 after acquiring an additional 137 shares during the period. R Squared Ltd purchased a new position in shares of PulteGroup during the 4th quarter worth $39,000. Finally, JNBA Financial Advisors bought a new stake in shares of PulteGroup during the 3rd quarter valued at $43,000. 89.90% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Stock Up 3.2 %

Shares of PHM stock opened at $106.15 on Thursday. The stock has a market cap of $21.49 billion, a P/E ratio of 7.22, a PEG ratio of 0.29 and a beta of 1.71. The company’s fifty day simple moving average is $109.56 and its two-hundred day simple moving average is $124.32. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a 52 week low of $100.54 and a 52 week high of $149.47.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, beating 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%. Analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date is Tuesday, March 18th. PulteGroup’s payout ratio is 5.98%.

PulteGroup announced that its Board of Directors has initiated a share repurchase program on Thursday, January 30th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the construction company to repurchase up to 6.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on PHM shares. Bank of America decreased their target price on PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a report on Monday, January 27th. Barclays decreased their price objective on PulteGroup from $125.00 to $117.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. UBS Group boosted their price objective on PulteGroup from $148.00 to $151.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Citigroup decreased their target price on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Finally, Wells Fargo & Company dropped their price target on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. One investment 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.com, PulteGroup currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.86.

Insider Buying and Selling at PulteGroup

In other PulteGroup news, Director Brian P. Anderson sold 2,500 shares of the company’s 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Brien P. O’meara sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were 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. The trade was a 23.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,191 shares of company stock worth $2,256,367 over the last 90 days. 0.75% of the stock is owned by insiders.

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.