Empowered Funds LLC Sells 31,971 Shares of PulteGroup, Inc. (NYSE:PHM)

Empowered Funds LLC cut its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 18.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 137,888 shares of the construction company’s stock after selling 31,971 shares during the period. Empowered Funds LLC owned about 0.07% of PulteGroup worth $15,016,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Fortitude Family Office LLC grew its position in PulteGroup by 115.1% during the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock worth $27,000 after acquiring an additional 99 shares during the last quarter. Transcendent Capital Group LLC bought a new stake in PulteGroup during the 3rd quarter worth approximately $29,000. Hager Investment Management Services LLC bought a new stake in PulteGroup during the 4th quarter worth approximately $29,000. JNBA Financial Advisors bought a new stake in PulteGroup during the 3rd quarter worth approximately $43,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in PulteGroup by 1,059.3% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 313 shares of the construction company’s stock valued at $45,000 after buying an additional 286 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PHM. Oppenheimer decreased their price objective on PulteGroup from $165.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday, January 31st. Citigroup decreased their price objective on PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Bank of America decreased their price objective on PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. StockNews.com lowered PulteGroup from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Finally, Seaport Res Ptn lowered PulteGroup from a “hold” rating to a “strong sell” rating in a research report on Monday, January 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, PulteGroup has an average rating of “Moderate Buy” and a consensus target price of $140.86.

PulteGroup Stock Performance

PHM stock opened at $105.85 on Friday. The business’s 50-day moving average price is $115.02 and its two-hundred day moving average price is $126.88. The company has a current ratio of 0.86, a quick ratio of 0.73 and a debt-to-equity ratio of 0.13. The firm has a market cap of $21.71 billion, a PE ratio of 7.20, a P/E/G ratio of 0.29 and a beta of 1.68. PulteGroup, Inc. has a 1-year low of $100.24 and a 1-year high of $149.47.

PulteGroup (NYSE:PHM) last issued 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%. As a group, research analysts forecast that PulteGroup, Inc. will post 12.43 earnings per share for the current year.

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 $0.22 dividend. 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 0.83%. PulteGroup’s dividend payout ratio (DPR) is 5.98%.

PulteGroup announced that its Board of Directors has approved a share repurchase plan on Thursday, January 30th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the construction company to repurchase up to 6.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

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.