Evolution Wealth Advisors LLC Sells 1,965 Shares of PulteGroup, Inc. (NYSE:PHM)

Evolution Wealth Advisors LLC reduced its holdings in PulteGroup, Inc. (NYSE:PHM) by 41.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,743 shares of the construction company’s stock after selling 1,965 shares during the quarter. Evolution Wealth Advisors LLC’s holdings in PulteGroup were worth $283,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Nordea Investment Management AB increased its stake in PulteGroup by 4.0% in the 4th quarter. Nordea Investment Management AB now owns 753,768 shares of the construction company’s stock worth $78,030,000 after acquiring an additional 28,833 shares during the last quarter. Illinois Municipal Retirement Fund lifted its stake in shares of PulteGroup by 24.9% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 26,341 shares of the construction company’s stock valued at $1,951,000 after purchasing an additional 5,257 shares during the period. American Century Companies Inc. lifted its stake in shares of PulteGroup by 65.0% in the 3rd quarter. American Century Companies Inc. now owns 224,978 shares of the construction company’s stock valued at $16,660,000 after purchasing an additional 88,638 shares during the period. International Assets Investment Management LLC purchased a new position in shares of PulteGroup in the 4th quarter valued at approximately $6,111,000. Finally, AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of PulteGroup in the 4th quarter valued at approximately $2,815,000. 89.90% of the stock is currently owned by institutional investors.

Insider Activity at PulteGroup

In other news, VP Brien P. O’meara sold 2,000 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $103.09, for a total value of $206,180.00. Following the transaction, the vice president now directly owns 15,389 shares in the company, valued at $1,586,452.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.83% of the stock is owned by company insiders.

PulteGroup Stock Performance

Shares of PHM stock traded down $0.51 on Friday, reaching $105.45. The stock had a trading volume of 2,319,184 shares, compared to its average volume of 1,791,484. The stock has a market cap of $22.25 billion, a P/E ratio of 9.03, a price-to-earnings-growth ratio of 0.52 and a beta of 1.56. PulteGroup, Inc. has a 1 year low of $62.18 and a 1 year high of $121.07. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.86 and a current ratio of 0.86. The company has a 50 day simple moving average of $110.44 and a 200 day simple moving average of $97.82.

PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, January 30th. The construction company reported $3.28 earnings per share for the quarter, beating the consensus estimate of $3.21 by $0.07. The company had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.47 billion. PulteGroup had a return on equity of 25.97% and a net margin of 16.20%. PulteGroup’s quarterly revenue was down 15.5% compared to the same quarter last year. During the same period in the previous year, the business earned $3.63 earnings per share. Equities research analysts expect that PulteGroup, Inc. will post 11.79 EPS for the current year.

PulteGroup announced that its Board of Directors has initiated a stock buyback program on Tuesday, January 30th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the construction company to repurchase up to 6.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

PulteGroup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Friday, March 15th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.80 annualized dividend and a yield of 0.76%. PulteGroup’s dividend payout ratio (DPR) is presently 6.81%.

Analyst Ratings Changes

A number of research firms have recently commented on PHM. The Goldman Sachs Group raised their target price on PulteGroup from $91.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, January 11th. Barclays raised their target price on PulteGroup from $126.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Royal Bank of Canada raised their target price on PulteGroup from $103.00 to $106.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 31st. Raymond James raised their price objective on PulteGroup from $100.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Finally, UBS Group lowered PulteGroup from a “buy” rating to a “neutral” rating and raised their price objective for the company from $93.00 to $120.00 in a research report on Thursday, January 4th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $106.47.

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.