Sagespring Wealth Partners LLC Takes $224,000 Position in PulteGroup, Inc. (NYSE:PHM)

Sagespring Wealth Partners LLC acquired a new position in PulteGroup, Inc. (NYSE:PHM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,060 shares of the construction company’s stock, valued at approximately $224,000.

A number of other hedge funds also recently bought and sold shares of PHM. Hager Investment Management Services LLC bought a new position in shares of PulteGroup in the 4th quarter worth $29,000. Fortitude Family Office LLC grew its stake in PulteGroup by 74.1% in the fourth quarter. Fortitude Family Office LLC now owns 322 shares of the construction company’s stock valued at $35,000 after purchasing an additional 137 shares during the last quarter. R Squared Ltd bought a new position in PulteGroup in the fourth quarter worth about $39,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of PulteGroup by 41.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 444 shares of the construction company’s stock valued at $48,000 after buying an additional 131 shares during the last quarter. Finally, Oakworth Capital Inc. boosted its holdings in shares of PulteGroup by 642.2% in the 4th quarter. Oakworth Capital Inc. now owns 475 shares of the construction company’s stock valued at $52,000 after buying an additional 411 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Down 2.0 %

NYSE:PHM opened at $92.94 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. The company’s fifty day moving average price is $102.51 and its 200-day moving average price is $117.08. PulteGroup, Inc. has a 1-year low of $88.07 and a 1-year high of $149.47. The firm has a market capitalization of $18.82 billion, a P/E ratio of 6.32, a PEG ratio of 0.29 and a beta of 1.44.

PulteGroup (NYSE:PHM) last announced its quarterly 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 return on equity of 24.43% and a net margin of 17.18%. As a group, equities research analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.95%. The ex-dividend date was Tuesday, March 18th. PulteGroup’s dividend payout ratio is currently 5.98%.

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PHM. Seaport Res Ptn raised shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 6th. Wedbush reiterated an “outperform” rating and set a $135.00 price objective on shares of PulteGroup in a report on Friday, January 31st. Wells Fargo & Company dropped their target price on PulteGroup from $140.00 to $120.00 and set an “overweight” rating on the stock in a research note on Monday. UBS Group upped their target price on PulteGroup from $148.00 to $151.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Finally, The Goldman Sachs Group lowered their price target on PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.21.

Insider Buying and Selling at PulteGroup

In other PulteGroup news, Director Brian P. Anderson sold 2,500 shares of PulteGroup stock in a transaction on Monday, February 10th. The shares were 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 owns 56,617 shares of the company’s stock, valued at approximately $6,026,879.65. The trade was a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Todd N. Sheldon sold 15,191 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $106.50, for a total transaction of $1,617,841.50. Following the sale, the executive vice president now directly 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. Over the last ninety days, insiders sold 21,191 shares of company stock valued at $2,256,367. 0.76% of the stock is owned by company insiders.

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.