Anchor Investment Management LLC Sells 400 Shares of PulteGroup, Inc. (NYSE:PHM)

Anchor Investment Management LLC trimmed its holdings in PulteGroup, Inc. (NYSE:PHM) by 6.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,974 shares of the construction company’s stock after selling 400 shares during the period. Anchor Investment Management LLC’s holdings in PulteGroup were worth $651,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of PulteGroup in the 4th quarter worth about $427,562,000. Amundi lifted its holdings in shares of PulteGroup by 77.9% in 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 in the last quarter. Franklin Resources Inc. boosted its position in shares of PulteGroup by 6.1% during the fourth quarter. Franklin Resources Inc. now owns 11,937,866 shares of the construction company’s stock valued at $1,300,034,000 after buying an additional 683,592 shares during the last quarter. Bridgewater Associates LP grew its holdings in PulteGroup by 118.8% during the fourth quarter. Bridgewater Associates LP now owns 783,581 shares of the construction company’s stock worth $85,332,000 after buying an additional 425,492 shares in the last quarter. Finally, Lord Abbett & CO. LLC raised its position in PulteGroup by 3,118.4% in the 3rd quarter. Lord Abbett & CO. LLC now owns 376,717 shares of the construction company’s stock valued at $54,070,000 after buying an additional 365,012 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. 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. Barclays reduced their price objective on shares of PulteGroup from $117.00 to $100.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. Oppenheimer dropped their target price on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday, January 31st. UBS Group upped their target price on PulteGroup from $148.00 to $151.00 and gave the company a “buy” rating in a report on Friday, January 31st. Finally, Wells Fargo & Company dropped their price target on PulteGroup from $140.00 to $120.00 and set an “overweight” rating on the stock in a report on Monday. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, PulteGroup has a consensus rating of “Moderate Buy” and a consensus target price of $138.21.

PulteGroup Trading Down 0.7 %

Shares of PHM opened at $94.81 on Wednesday. PulteGroup, Inc. has a fifty-two week low of $88.07 and a fifty-two week high of $149.47. The business has a 50-day moving average of $102.77 and a 200 day moving average of $117.25. The firm has a market cap of $19.20 billion, a P/E ratio of 6.45, a price-to-earnings-growth ratio of 0.29 and a beta of 1.44. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86.

PulteGroup (NYSE:PHM) last posted its earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.28 by $0.22. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. As a group, research analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th were paid a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.88 annualized dividend and a yield of 0.93%. PulteGroup’s dividend payout ratio is currently 5.98%.

PulteGroup declared that its Board of Directors has initiated a stock 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 purchase up to 6.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at PulteGroup

In other PulteGroup news, EVP Todd N. Sheldon sold 15,191 shares of the firm’s stock in a transaction dated 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 owns 74,758 shares of the company’s stock, valued at $7,961,727. This trade represents a 16.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Brien P. O’meara sold 3,500 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was 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 $1,209,980.80. The trade was a 23.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,191 shares of company stock valued at $2,256,367 in the last quarter. 0.76% of the stock is currently owned by corporate 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.