Sterling Capital Management LLC cut its stake in PulteGroup, Inc. (NYSE:PHM) by 4.8% in the 4th quarter, HoldingsChannel reports. The fund owned 136,274 shares of the construction company’s stock after selling 6,822 shares during the period. Sterling Capital Management LLC’s holdings in PulteGroup were worth $4,531,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Focused Wealth Management Inc bought a new position in shares of PulteGroup in the fourth quarter valued at approximately $113,000. Invictus RG boosted its holdings in shares of PulteGroup by 1,473.4% in the third quarter. Invictus RG now owns 4,264 shares of the construction company’s stock valued at $117,000 after acquiring an additional 3,993 shares in the last quarter. SeaCrest Wealth Management LLC bought a new position in shares of PulteGroup in the fourth quarter valued at approximately $119,000. National Pension Service bought a new position in shares of PulteGroup in the fourth quarter valued at approximately $138,000. Finally, Fieldpoint Private Securities LLC bought a new position in shares of PulteGroup in the third quarter valued at approximately $150,000. Institutional investors and hedge funds own 85.34% of the company’s stock.
Shares of PulteGroup, Inc. (PHM) opened at $29.00 on Friday. PulteGroup, Inc. has a one year low of $21.41 and a one year high of $35.21. The company has a market cap of $8,419.21, a P/E ratio of 13.18, a P/E/G ratio of 0.46 and a beta of 1.12.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 3rd. Investors of record on Friday, March 16th will be given a $0.09 dividend. The ex-dividend date of this dividend is Thursday, March 15th. This represents a $0.36 annualized dividend and a dividend yield of 1.24%. PulteGroup’s dividend payout ratio (DPR) is presently 25.00%.
PulteGroup announced that its Board of Directors has approved a stock buyback plan on Tuesday, January 30th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the construction company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.
PHM has been the subject of several recent analyst reports. UBS increased their price objective on shares of PulteGroup from $38.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Buckingham Research cut shares of PulteGroup from a “buy” rating to a “neutral” rating and increased their price objective for the company from $31.00 to $33.00 in a report on Sunday, November 26th. Zacks Investment Research cut shares of PulteGroup from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. Mizuho upgraded shares of PulteGroup from a “neutral” rating to a “buy” rating in a report on Thursday, January 18th. Finally, B. Riley reiterated a “hold” rating and issued a $36.00 price objective on shares of PulteGroup in a report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. PulteGroup currently has an average rating of “Buy” and an average target price of $33.92.
In related news, Director Patrick J. Oleary sold 8,677 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $30.03, for a total value of $260,570.31. Following the completion of the sale, the director now owns 90,687 shares in the company, valued at approximately $2,723,330.61. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.71% of the stock is currently owned by corporate insiders.
PulteGroup, Inc is a homebuilder in the United States. The Company’s segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land.
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