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

Coastline Trust Co lessened its stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 32.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,597 shares of the construction company's stock after selling 4,588 shares during the quarter. Coastline Trust Co's holdings in PulteGroup were worth $1,045,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Trust Advisors LP increased its holdings in shares of PulteGroup by 45.6% in the fourth quarter. First Trust Advisors LP now owns 1,065,190 shares of the construction company's stock valued at $115,999,000 after buying an additional 333,361 shares in the last quarter. Freedom Investment Management Inc. raised its position in shares of PulteGroup by 10.0% during the fourth quarter. Freedom Investment Management Inc. now owns 16,134 shares of the construction company's stock worth $1,757,000 after purchasing an additional 1,463 shares during the period. Jump Financial LLC lifted its holdings in shares of PulteGroup by 210.5% during the fourth quarter. Jump Financial LLC now owns 16,799 shares of the construction company's stock valued at $1,829,000 after purchasing an additional 11,388 shares during the last quarter. Bridgewater Associates LP boosted its position in shares of PulteGroup by 118.8% in the 4th quarter. Bridgewater Associates LP now owns 783,581 shares of the construction company's stock valued at $85,332,000 after purchasing an additional 425,492 shares during the period. Finally, Kane Investment Management Inc. purchased a new position in PulteGroup in the 4th quarter worth about $847,000. Institutional investors own 89.90% of the company's stock.

PulteGroup Price Performance

PHM traded up $1.68 during midday trading on Thursday, reaching $102.74. 889,057 shares of the company's stock were exchanged, compared to its average volume of 2,330,764. PulteGroup, Inc. has a one year low of $88.07 and a one year high of $149.47. The firm has a market capitalization of $20.80 billion, a price-to-earnings ratio of 6.98, a price-to-earnings-growth ratio of 0.29 and a beta of 1.44. The business has a 50-day simple moving average of $101.54 and a two-hundred day simple moving average of $115.50. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13.

PulteGroup (NYSE:PHM - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The construction company reported $2.57 EPS for the quarter, beating the consensus estimate of $2.47 by $0.10. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.86 billion. During the same quarter in the previous year, the firm earned $3.10 EPS. As a group, research analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current year.

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

PulteGroup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.86%. The ex-dividend date was Tuesday, March 18th. PulteGroup's dividend payout ratio is currently 5.98%.

Insider Buying and Selling at PulteGroup

In related news, EVP Todd N. Sheldon sold 15,191 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $106.50, for a total transaction 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 represents a 16.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brien P. O'meara sold 3,500 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $106.40, for a total transaction of $372,400.00. Following the sale, the vice president now directly owns 11,372 shares in the company, valued at approximately $1,209,980.80. This represents a 23.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,191 shares of company stock worth $2,256,367 over the last ninety days. Corporate insiders own 0.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Barclays decreased their target price on shares of PulteGroup from $100.00 to $98.00 and set an "equal weight" rating for the company in a report on Wednesday. Evercore ISI raised their price objective on shares of PulteGroup from $161.00 to $165.00 and gave the stock an "outperform" rating in a research note on Wednesday. The Goldman Sachs Group cut their target price on shares of PulteGroup from $140.00 to $124.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 14th. Oppenheimer decreased their target price on PulteGroup from $165.00 to $150.00 and set an "outperform" rating for the company in a research report on Friday, January 31st. Finally, Wells Fargo & Company dropped their price target on PulteGroup from $140.00 to $120.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, PulteGroup has an average rating of "Moderate Buy" and an average target price of $134.43.

PulteGroup 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.