Family Management Corp Has $2.45 Million Holdings in PulteGroup, Inc. (NYSE:PHM)

Family Management Corp trimmed its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 22.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,147 shares of the construction company's stock after selling 6,619 shares during the quarter. Family Management Corp's holdings in PulteGroup were worth $2,447,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Nilsine Partners LLC grew its stake 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 valued at $2,240,000 after buying an additional 18,575 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of PulteGroup by 3.2% in the fourth quarter. Harbor Capital Advisors Inc. now owns 4,559 shares of the construction company's stock valued at $496,000 after buying an additional 143 shares in the last quarter. Argyle Capital Management LLC grew its stake in shares of PulteGroup by 1.5% in the fourth quarter. Argyle Capital Management LLC now owns 42,241 shares of the construction company's stock valued at $4,600,000 after buying an additional 641 shares in the last quarter. Eastern Bank grew its stake in shares of PulteGroup by 4.6% in the fourth quarter. Eastern Bank now owns 142,740 shares of the construction company's stock valued at $15,544,000 after buying an additional 6,243 shares in the last quarter. Finally, Merit Financial Group LLC grew its stake in shares of PulteGroup by 416.0% in the fourth quarter. Merit Financial Group LLC now owns 12,775 shares of the construction company's stock valued at $1,391,000 after buying an additional 10,299 shares in the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

PulteGroup Price Performance

Shares of PHM stock traded up $4.06 during trading hours on Monday, hitting $106.53. The company had a trading volume of 1,967,327 shares, compared to its average volume of 2,247,767. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $149.47. The firm has a market capitalization of $21.35 billion, a price-to-earnings ratio of 7.24, a PEG ratio of 0.29 and a beta of 1.37. The firm's fifty day moving average is $101.13 and its 200 day moving average is $111.92. 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 (NYSE:PHM - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The construction company reported $2.57 EPS for the quarter, topping analysts' consensus estimates of $2.47 by $0.10. The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.86 billion. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. During the same period in the prior year, the company earned $3.10 EPS. On average, sell-side analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 17th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.88 dividend on an annualized basis and a yield of 0.83%. PulteGroup's dividend payout ratio (DPR) is presently 6.21%.

PulteGroup declared that its board has authorized a stock buyback program on Thursday, January 30th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the construction company to purchase up to 6.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PHM. Wells Fargo & Company lowered their price objective on PulteGroup from $140.00 to $120.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Bank of America cut their target price on PulteGroup from $135.00 to $134.00 and set a "buy" rating on the stock in a research note on Monday, January 27th. Barclays cut their target price on PulteGroup from $100.00 to $98.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 23rd. Seaport Res Ptn upgraded PulteGroup from a "strong sell" rating to a "hold" rating in a report on Thursday, March 6th. Finally, UBS Group reduced their price target on PulteGroup from $151.00 to $141.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $134.69.

Insider Buying and Selling

In other news, VP Brien P. O'meara sold 3,500 shares of the firm's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $106.40, for a total value of $372,400.00. Following the transaction, the vice president now directly owns 11,372 shares in the company, valued at $1,209,980.80. This trade represents a 23.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Todd N. Sheldon sold 15,191 shares of the firm's stock in a transaction 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. 0.76% of the stock is owned by corporate 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.