Coastline Trust Co Sells 4,588 Shares of PulteGroup, Inc. (NYSE:PHM)

Coastline Trust Co reduced its position in shares of PulteGroup, Inc. (NYSE:PHM) by 32.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 9,597 shares of the construction company’s stock after selling 4,588 shares during the period. Coastline Trust Co’s holdings in PulteGroup were worth $1,045,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Franklin Resources Inc. grew its position in PulteGroup by 6.1% in the 4th quarter. Franklin Resources Inc. now owns 11,937,866 shares of the construction company’s stock valued at $1,300,034,000 after purchasing an additional 683,592 shares during the period. Geode Capital Management LLC raised its holdings in shares of PulteGroup by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 5,120,878 shares of the construction company’s stock worth $556,465,000 after acquiring an additional 64,947 shares during the last quarter. Norges Bank acquired a new position in PulteGroup during the 4th quarter valued at about $427,562,000. Amundi increased its holdings in PulteGroup by 77.9% during 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 in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of PulteGroup by 10.0% in the fourth quarter. Nordea Investment Management AB now owns 1,424,119 shares of the construction company’s stock valued at $155,856,000 after purchasing an additional 129,975 shares in the last quarter. Institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Up 2.2 %

Shares of NYSE:PHM opened at $94.87 on Friday. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-month high of $149.47. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13. The stock’s 50-day moving average price is $102.04 and its 200-day moving average price is $116.40. The stock has a market capitalization of $19.21 billion, a P/E ratio of 6.45, a price-to-earnings-growth ratio of 0.29 and a beta of 1.44.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 earnings per share 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, equities analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend was Tuesday, March 18th. PulteGroup’s dividend payout ratio (DPR) is 5.98%.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PHM shares. Oppenheimer cut their price objective on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. The Goldman Sachs Group decreased their target price on PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Barclays reduced their target price 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. Bank of America decreased their price objective on PulteGroup from $135.00 to $134.00 and set a “buy” rating for the company in a report on Monday, January 27th. Finally, Wedbush reissued an “outperform” rating and set a $135.00 target price on shares of PulteGroup in a report on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.21.

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 directly 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 filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Todd N. Sheldon sold 15,191 shares of the company’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 transaction, the executive vice president now owns 74,758 shares in the company, valued at $7,961,727. This trade represents a 16.89 % 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 over the last ninety days. 0.76% of the stock is owned by insiders.

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.