Axxcess Wealth Management LLC Grows Position in PulteGroup, Inc. (NYSE:PHM)

Axxcess Wealth Management LLC grew its position in shares of PulteGroup, Inc. (NYSE:PHM) by 2.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,170 shares of the construction company’s stock after acquiring an additional 161 shares during the quarter. Axxcess Wealth Management LLC’s holdings in PulteGroup were worth $672,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. FMR LLC increased its position in shares of PulteGroup by 102.3% during the third quarter. FMR LLC now owns 9,040,828 shares of the construction company’s stock valued at $1,297,630,000 after acquiring an additional 4,571,757 shares during the last quarter. Amundi grew its stake in PulteGroup by 77.9% in the 4th quarter. Amundi now owns 1,636,562 shares of the construction company’s stock valued at $180,775,000 after purchasing an additional 716,716 shares during the period. Franklin Resources Inc. increased its position in shares of PulteGroup by 5.5% during the 3rd quarter. Franklin Resources Inc. now owns 11,254,274 shares of the construction company’s stock valued at $1,647,364,000 after purchasing an additional 585,735 shares during the last quarter. Westfield Capital Management Co. LP bought a new stake in shares of PulteGroup during the 3rd quarter worth $66,485,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of PulteGroup by 357.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 521,958 shares of the construction company’s stock worth $74,917,000 after buying an additional 407,764 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.

Insider Buying and Selling

In other news, EVP Todd N. Sheldon sold 15,191 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $106.50, for a total transaction of $1,617,841.50. Following the completion of the transaction, the executive vice president now owns 74,758 shares of the company’s stock, valued at approximately $7,961,727. The trade was a 16.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brien P. O’meara sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $106.40, for a total transaction of $372,400.00. Following the completion of the transaction, the vice president now owns 11,372 shares in the company, valued at approximately $1,209,980.80. This trade represents a 23.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,191 shares of company stock worth $2,256,367 over the last ninety days. 0.83% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PHM has been the topic of several research reports. Citigroup lowered their price objective on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. The Goldman Sachs Group lowered their price target on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Wells Fargo & Company reduced their price objective on PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Oppenheimer lowered their target price on PulteGroup from $165.00 to $150.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. Finally, UBS Group increased their price target on PulteGroup from $148.00 to $151.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.86.

PulteGroup Trading Down 2.2 %

Shares of PHM opened at $103.04 on Friday. PulteGroup, Inc. has a twelve month low of $100.35 and a twelve month high of $149.47. The stock has a market cap of $20.86 billion, a PE ratio of 7.00, a P/E/G ratio of 0.29 and a beta of 1.71. 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’s 50-day moving average price is $108.54 and its 200-day moving average price is $122.25.

PulteGroup (NYSE:PHM) last posted its earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $3.28 by $0.22. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. On average, equities analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup announced that its board has initiated a share repurchase program on Thursday, January 30th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the construction company to purchase up to 6.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

PulteGroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be given a $0.22 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.85%. PulteGroup’s dividend payout ratio (DPR) is presently 5.98%.

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.