Parkside Financial Bank & Trust Lowers Position in PulteGroup, Inc. (NYSE:PHM)

Parkside Financial Bank & Trust decreased its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 25.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 291 shares of the construction company’s stock after selling 99 shares during the period. Parkside Financial Bank & Trust’s holdings in PulteGroup were worth $30,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PHM. Arlington Trust Co LLC purchased a new position in PulteGroup during the third quarter worth about $33,000. Baystate Wealth Management LLC grew its position in PulteGroup by 186.5% during the third quarter. Baystate Wealth Management LLC now owns 490 shares of the construction company’s stock worth $36,000 after buying an additional 319 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new position in PulteGroup during the third quarter worth about $36,000. Rakuten Securities Inc. purchased a new position in PulteGroup during the fourth quarter worth about $37,000. Finally, Lindbrook Capital LLC grew its position in PulteGroup by 335.6% during the fourth quarter. Lindbrook Capital LLC now owns 379 shares of the construction company’s stock worth $39,000 after buying an additional 292 shares in the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

PulteGroup Price Performance

Shares of PulteGroup stock opened at $113.80 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.85 and a quick ratio of 0.86. The business’s 50 day simple moving average is $111.28 and its two-hundred day simple moving average is $99.59. The stock has a market capitalization of $23.94 billion, a P/E ratio of 9.11, a price-to-earnings-growth ratio of 0.53 and a beta of 1.56. PulteGroup, Inc. has a one year low of $64.70 and a one year high of $121.07.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, January 30th. The construction company reported $3.28 EPS for the quarter, topping analysts’ consensus estimates of $3.21 by $0.07. The business had revenue of $4.29 billion for the quarter, compared to analysts’ expectations of $4.47 billion. PulteGroup had a return on equity of 25.81% and a net margin of 16.63%. The business’s quarterly revenue was down 15.5% on a year-over-year basis. During the same period in the previous year, the firm earned $3.63 EPS. Analysts forecast that PulteGroup, Inc. will post 12.66 EPS for the current year.

PulteGroup declared that its board has initiated a stock buyback plan on Tuesday, January 30th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the construction company to repurchase up to 6.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

PulteGroup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Friday, March 15th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 0.70%. PulteGroup’s dividend payout ratio (DPR) is presently 6.41%.

Insider Activity

In other news, VP Brien P. O’meara sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $103.09, for a total transaction of $206,180.00. Following the transaction, the vice president now directly owns 15,389 shares of the company’s stock, valued at $1,586,452.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.83% of the company’s stock.

Analyst Ratings Changes

PHM has been the subject of several recent analyst reports. Raymond James restated an “outperform” rating and set a $135.00 target price (up from $120.00) on shares of PulteGroup in a research report on Thursday. Oppenheimer upped their price objective on PulteGroup from $138.00 to $143.00 and gave the stock an “outperform” rating in a report on Wednesday. Barclays increased their price objective on PulteGroup from $126.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Royal Bank of Canada raised their price objective on PulteGroup from $106.00 to $113.00 and gave the company a “sector perform” rating in a report on Wednesday. Finally, Citigroup raised their price objective on PulteGroup from $116.00 to $127.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $111.73.

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.