PulteGroup, Inc. (NYSE:PHM) Shares Acquired by Clark Capital Management Group Inc.

Clark Capital Management Group Inc. grew its stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 0.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 766,261 shares of the construction company's stock after acquiring an additional 3,034 shares during the quarter. Clark Capital Management Group Inc. owned about 0.37% of PulteGroup worth $83,446,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Hager Investment Management Services LLC purchased a new position in PulteGroup in the 4th quarter worth approximately $29,000. Fortitude Family Office LLC increased its holdings in shares of PulteGroup by 74.1% in the 4th quarter. Fortitude Family Office LLC now owns 322 shares of the construction company's stock worth $35,000 after purchasing an additional 137 shares in the last quarter. TD Waterhouse Canada Inc. increased its holdings in PulteGroup by 43.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company's stock worth $38,000 after buying an additional 105 shares in the last quarter. R Squared Ltd bought a new stake in PulteGroup in the 4th quarter worth about $39,000. Finally, Quarry LP purchased a new position in PulteGroup in the 4th quarter worth about $43,000. Hedge funds and other institutional investors own 89.90% of the company's stock.

PulteGroup Stock Up 1.0%

Shares of PHM traded up $1.05 during mid-day trading on Tuesday, hitting $107.59. 1,007,087 shares of the company traded hands, compared to its average volume of 1,994,632. The company has a market capitalization of $21.56 billion, a PE ratio of 7.31, a price-to-earnings-growth ratio of 0.29 and a beta of 1.37. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average of $101.14 and a 200 day moving average of $111.74. PulteGroup, Inc. has a 1-year low of $88.07 and a 1-year high of $149.47.

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

PulteGroup declared that its Board of Directors has authorized a share 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 repurchase up to 6.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its stock is undervalued.

PulteGroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Tuesday, June 17th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.82%. The ex-dividend date is Tuesday, June 17th. PulteGroup's dividend payout ratio is currently 6.21%.

Insider Buying and Selling at PulteGroup

In other news, EVP Todd N. Sheldon sold 15,191 shares of the 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 sale, the executive vice president now directly owns 74,758 shares of the company's stock, valued at $7,961,727. This represents a 16.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Brien P. O'meara sold 3,500 shares of PulteGroup stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $106.40, for a total value of $372,400.00. Following the completion of the transaction, the vice president now owns 11,372 shares of the company's stock, 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. Company insiders own 0.76% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Barclays cut their price objective on PulteGroup from $100.00 to $98.00 and set an "equal weight" rating for the company in a report on Wednesday, April 23rd. Seaport Res Ptn raised shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 6th. Bank of America dropped their price objective on shares of PulteGroup from $135.00 to $134.00 and set a "buy" rating on the stock in a report on Monday, January 27th. Wedbush restated an "outperform" rating and set a $135.00 target price on shares of PulteGroup in a research report on Tuesday, April 22nd. Finally, Wells Fargo & Company decreased their price target on shares of PulteGroup from $140.00 to $120.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $134.69.

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.