Commerce Bank Sells 806 Shares of PulteGroup, Inc. (NYSE:PHM)

Commerce Bank reduced its holdings in PulteGroup, Inc. (NYSE:PHM) by 3.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,881 shares of the construction company’s stock after selling 806 shares during the period. Commerce Bank’s holdings in PulteGroup were worth $2,710,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Hager Investment Management Services LLC acquired a new stake in shares of PulteGroup in the fourth quarter worth $29,000. Fortitude Family Office LLC boosted its holdings in PulteGroup by 74.1% in the 4th 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 period. R Squared Ltd bought a new position in shares of PulteGroup during the 4th quarter worth about $39,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of PulteGroup by 41.9% in 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 period. Finally, Oakworth Capital Inc. grew its position in PulteGroup by 642.2% during the fourth quarter. Oakworth Capital Inc. now owns 475 shares of the construction company’s stock worth $52,000 after buying an additional 411 shares in the last quarter. 89.90% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, VP Brien P. O’meara sold 3,500 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $106.40, for a total transaction of $372,400.00. Following the completion of the sale, the vice president now owns 11,372 shares in the company, valued at $1,209,980.80. The trade was a 23.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Brian P. Anderson sold 2,500 shares of the company’s 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 transaction, the director now directly owns 56,617 shares in the company, valued at $6,026,879.65. This trade represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,191 shares of company stock worth $2,256,367 in the last quarter. Insiders own 0.76% of the company’s stock.

Analyst Upgrades and Downgrades

PHM has been the subject of several recent research reports. Seaport Res Ptn raised PulteGroup from a “strong sell” rating to a “hold” rating in a report on Thursday, March 6th. The Goldman Sachs Group cut their target price on PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Wedbush reissued an “outperform” rating and issued a $135.00 price target on shares of PulteGroup in a report on Friday, January 31st. Citigroup reduced their price objective on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Finally, Wells Fargo & Company lowered their target price on shares of PulteGroup from $140.00 to $120.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $138.21.

PulteGroup Price Performance

PulteGroup stock opened at $94.87 on Monday. PulteGroup, Inc. has a 52 week low of $88.07 and a 52 week high of $149.47. The firm has a market cap of $19.21 billion, a P/E ratio of 6.45, a P/E/G 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. The business’s fifty day moving average is $102.04 and its two-hundred day moving average is $116.03.

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

PulteGroup declared that its Board of Directors has authorized a stock buyback plan on Thursday, January 30th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the construction company to purchase 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 stock is undervalued.

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 issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend was Tuesday, March 18th. PulteGroup’s dividend payout ratio is currently 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.