Axxcess Wealth Management LLC Purchases 161 Shares of PulteGroup, Inc. (NYSE:PHM)

Axxcess Wealth Management LLC increased its position in PulteGroup, Inc. (NYSE:PHM) by 2.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,170 shares of the construction company’s stock after buying an additional 161 shares during the quarter. Axxcess Wealth Management LLC’s holdings in PulteGroup were worth $672,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC lifted its holdings in shares of PulteGroup by 102.3% in the 3rd quarter. FMR LLC now owns 9,040,828 shares of the construction company’s stock worth $1,297,630,000 after acquiring an additional 4,571,757 shares during the last quarter. Amundi raised its position in PulteGroup by 77.9% in the 4th quarter. Amundi now owns 1,636,562 shares of the construction company’s stock worth $180,775,000 after purchasing an additional 716,716 shares during the period. Franklin Resources Inc. lifted its stake in PulteGroup by 5.5% in the third quarter. Franklin Resources Inc. now owns 11,254,274 shares of the construction company’s stock worth $1,647,364,000 after purchasing an additional 585,735 shares during the last quarter. Westfield Capital Management Co. LP purchased a new stake in PulteGroup during the third quarter valued at about $66,485,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of PulteGroup by 357.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 521,958 shares of the construction company’s stock valued at $74,917,000 after buying an additional 407,764 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Insider Transactions at PulteGroup

In other news, EVP Todd N. Sheldon sold 15,191 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was 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 directly owns 74,758 shares of the company’s stock, valued at $7,961,727. The trade was a 16.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 transaction, the vice president now directly owns 11,372 shares of the company’s stock, valued at approximately $1,209,980.80. This trade represents a 23.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,191 shares of company stock valued at $2,256,367 in the last three months. 0.83% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company lowered their target price on PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Citigroup dropped their price objective on PulteGroup from $146.00 to $119.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Seaport Res Ptn upgraded shares of PulteGroup from a “strong sell” rating to a “hold” rating in a report on Thursday, March 6th. Wedbush reiterated an “outperform” rating and set a $135.00 price target on shares of PulteGroup in a report on Friday, January 31st. Finally, StockNews.com lowered 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 given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $140.86.

PulteGroup Price Performance

PHM stock opened at $103.04 on Friday. 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 $100.35 and a 1 year high of $149.47. The firm has a 50-day moving average of $108.54 and a 200 day moving average of $122.25. The company 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 released its 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%. On average, sell-side analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current year.

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

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 issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Tuesday, March 18th. PulteGroup’s dividend payout ratio (DPR) is presently 5.98%.

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.