Harbour Investments Inc. Sells 110 Shares of PulteGroup, Inc. (NYSE:PHM)

Harbour Investments Inc. lowered its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 3.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,261 shares of the construction company’s stock after selling 110 shares during the quarter. Harbour Investments Inc.’s holdings in PulteGroup were worth $355,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Franklin Resources Inc. raised its holdings in shares of PulteGroup by 5.5% during the third quarter. Franklin Resources Inc. now owns 11,254,274 shares of the construction company’s stock valued at $1,647,364,000 after purchasing an additional 585,735 shares during the period. FMR LLC raised its holdings in shares of PulteGroup by 102.3% during the third quarter. FMR LLC now owns 9,040,828 shares of the construction company’s stock valued at $1,297,630,000 after purchasing an additional 4,571,757 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of PulteGroup by 7.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,864,040 shares of the construction company’s stock valued at $267,546,000 after purchasing an additional 135,391 shares during the period. Amundi raised its holdings in shares of PulteGroup by 77.9% during the fourth quarter. Amundi now owns 1,636,562 shares of the construction company’s stock valued at $180,775,000 after purchasing an additional 716,716 shares during the period. Finally, Nordea Investment Management AB raised its holdings in shares of PulteGroup by 10.0% in the 4th quarter. Nordea Investment Management AB now owns 1,424,119 shares of the construction company’s stock worth $155,856,000 after acquiring an additional 129,975 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PHM shares. Wells Fargo & Company lowered their target price on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Wedbush restated an “outperform” rating and issued a $135.00 target price on shares of PulteGroup in a report on Friday, January 31st. Bank of America lowered their target price on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a report on Monday, January 27th. Citigroup reduced their target price on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Finally, StockNews.com downgraded shares of PulteGroup from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $140.86.

Insider Activity

In other news, Director Brian P. Anderson sold 2,500 shares of PulteGroup stock in a transaction on Monday, February 10th. The stock was sold at an average price of $106.45, for a total value of $266,125.00. Following the completion of the transaction, the director now directly owns 56,617 shares in the company, valued at approximately $6,026,879.65. The trade was a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 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 approximately $7,961,727. The trade was a 16.89 % decrease in their ownership of the stock. 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 over the last quarter. Company insiders own 0.83% of the company’s stock.

PulteGroup Trading Down 2.2 %

Shares of PHM stock opened at $103.04 on Friday. PulteGroup, Inc. has a 12-month low of $100.35 and a 12-month high of $149.47. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average of $108.54 and a 200-day moving average of $122.25. The firm has a market cap of $20.86 billion, a P/E ratio of 7.00, a PEG ratio of 0.29 and a beta of 1.71.

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, beating the consensus estimate of $3.28 by $0.22. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. Sell-side analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be paid a $0.22 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 annualized dividend and a dividend yield of 0.85%. PulteGroup’s payout ratio is 5.98%.

PulteGroup declared that its board has approved a share repurchase plan on Thursday, January 30th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the construction company to purchase up to 6.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.