Tower Research Capital LLC TRC Grows Position in PulteGroup, Inc. (NYSE:PHM)

Tower Research Capital LLC TRC raised its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 80.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,069 shares of the construction company's stock after purchasing an additional 4,046 shares during the quarter. Tower Research Capital LLC TRC's holdings in PulteGroup were worth $988,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Hager Investment Management Services LLC purchased a new position in PulteGroup in the 4th quarter valued at $29,000. Fortitude Family Office LLC boosted its holdings in shares of PulteGroup by 74.1% in the fourth quarter. Fortitude Family Office LLC now owns 322 shares of the construction company's stock valued at $35,000 after acquiring an additional 137 shares in the last quarter. R Squared Ltd purchased a new stake in shares of PulteGroup in the fourth quarter valued at about $39,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of PulteGroup by 41.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 444 shares of the construction company's stock worth $48,000 after acquiring an additional 131 shares during the period. Finally, Oakworth Capital Inc. raised its holdings in PulteGroup by 642.2% during the fourth quarter. Oakworth Capital Inc. now owns 475 shares of the construction company's stock worth $52,000 after purchasing an additional 411 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company's stock.

Insider Transactions at PulteGroup

In other PulteGroup news, EVP Todd N. Sheldon sold 15,191 shares of the firm's stock in a transaction dated 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 sale, the executive vice president now directly owns 74,758 shares of the company's stock, valued at approximately $7,961,727. This trade represents a 16.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brian P. Anderson sold 2,500 shares of PulteGroup 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 sale, the director now owns 56,617 shares of the company's stock, valued at $6,026,879.65. This trade represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,191 shares of company stock worth $2,256,367 over the last quarter. 0.76% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Seaport Res Ptn upgraded PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 6th. Royal Bank of Canada dropped their price objective on PulteGroup from $116.00 to $109.00 and set a "sector perform" rating on the stock in a report on Wednesday, April 23rd. The Goldman Sachs Group reduced their target price on PulteGroup from $140.00 to $124.00 and set a "neutral" rating for the company in a report on Tuesday, January 14th. UBS Group lowered their price target on shares of PulteGroup from $151.00 to $141.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Finally, Barclays reduced their price objective on shares of PulteGroup from $100.00 to $98.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 23rd. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $134.69.

PulteGroup Price Performance

Shares of NYSE PHM traded up $0.09 during trading on Thursday, reaching $102.67. The company had a trading volume of 389,935 shares, compared to its average volume of 1,993,193. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month high of $149.47. The stock has a 50-day moving average price of $101.24 and a two-hundred day moving average price of $114.22. The stock has a market capitalization of $20.58 billion, a PE ratio of 6.99, a price-to-earnings-growth ratio of 0.29 and a beta of 1.44.

PulteGroup (NYSE:PHM - Get Free Report) last released its earnings results on Tuesday, April 22nd. The construction company reported $2.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.47 by $0.10. The company had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.86 billion. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. During the same period in the prior year, the firm earned $3.10 EPS. As a group, sell-side analysts predict that PulteGroup, Inc. will post 12.32 earnings per share 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 buy up to 6.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

PulteGroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Tuesday, June 17th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.86%. PulteGroup's dividend payout ratio is presently 6.21%.

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.