PulteGroup, Inc. (NYSE:PHM) Shares Sold by Kesler Norman & Wride LLC

Kesler Norman & Wride LLC cut its holdings in PulteGroup, Inc. (NYSE:PHM) by 14.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 6,192 shares of the construction company’s stock after selling 1,016 shares during the period. Kesler Norman & Wride LLC’s holdings in PulteGroup were worth $674,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PHM. Logan Capital Management Inc. boosted its stake in PulteGroup by 67.7% during the 3rd quarter. Logan Capital Management Inc. now owns 14,797 shares of the construction company’s stock valued at $2,124,000 after purchasing an additional 5,976 shares during the period. Sanctuary Advisors LLC boosted its stake in shares of PulteGroup by 38.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 121,299 shares of the construction company’s stock worth $17,410,000 after acquiring an additional 33,472 shares in the last quarter. Systematic Financial Management LP increased its stake in PulteGroup by 3.9% in the 3rd quarter. Systematic Financial Management LP now owns 130,257 shares of the construction company’s stock worth $18,696,000 after purchasing an additional 4,840 shares in the last quarter. Nilsine Partners LLC increased its position in shares of PulteGroup by 929.2% in the fourth quarter. Nilsine Partners LLC now owns 20,574 shares of the construction company’s stock worth $2,240,000 after acquiring an additional 18,575 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its position in PulteGroup by 3.2% during the 4th quarter. Harbor Capital Advisors Inc. now owns 4,559 shares of the construction company’s stock worth $496,000 after purchasing an additional 143 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Brian P. Anderson sold 2,500 shares of the stock in a transaction dated 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 $6,026,879.65. This represents a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Brien P. O’meara sold 3,500 shares of PulteGroup 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 sale, the vice president now directly 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 disclosure for this sale can be found here. Insiders sold a total of 21,191 shares of company stock valued at $2,256,367 over the last ninety days. 0.76% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PHM has been the subject of several research analyst reports. Bank of America reduced their price objective on PulteGroup from $135.00 to $134.00 and set a “buy” rating for the company in a research note on Monday, January 27th. JPMorgan Chase & Co. decreased their price target on shares of PulteGroup from $162.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, December 13th. Wedbush reiterated an “outperform” rating and issued a $135.00 price objective on shares of PulteGroup in a research note on Friday, January 31st. Seaport Res Ptn raised shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 6th. Finally, StockNews.com downgraded PulteGroup from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, PulteGroup has an average rating of “Moderate Buy” and a consensus target price of $140.86.

PulteGroup Stock Performance

NYSE:PHM opened at $104.32 on Thursday. The firm’s 50-day moving average is $106.79 and its 200-day moving average is $120.64. The company has a market cap of $21.12 billion, a price-to-earnings ratio of 7.09, a PEG ratio of 0.29 and a beta of 1.71. 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, Inc. has a 52-week low of $99.58 and a 52-week high of $149.47.

PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup announced that its Board of Directors has approved a stock buyback plan on Thursday, January 30th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the construction company to reacquire up to 6.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

PulteGroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th were paid a $0.22 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.84%. PulteGroup’s payout ratio is 5.98%.

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.