Oakworth Capital Inc. Boosts Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Oakworth Capital Inc. lifted its position in PulteGroup, Inc. (NYSE:PHM) by 642.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 475 shares of the construction company’s stock after acquiring an additional 411 shares during the quarter. Oakworth Capital Inc.’s holdings in PulteGroup were worth $52,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PHM. Fortitude Family Office LLC grew its position in PulteGroup by 115.1% in the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock worth $27,000 after purchasing an additional 99 shares in the last quarter. Transcendent Capital Group LLC purchased a new position in shares of PulteGroup in the 3rd quarter worth approximately $29,000. Hager Investment Management Services LLC bought a new position in shares of PulteGroup in the fourth quarter valued at approximately $29,000. JNBA Financial Advisors purchased a new stake in shares of PulteGroup during the third quarter valued at approximately $43,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in PulteGroup by 1,059.3% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 313 shares of the construction company’s stock worth $45,000 after acquiring an additional 286 shares during the period. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Price Performance

Shares of NYSE PHM opened at $109.89 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.73 and a current ratio of 0.86. PulteGroup, Inc. has a fifty-two week low of $100.24 and a fifty-two week high of $149.47. The stock has a market cap of $22.54 billion, a PE ratio of 7.47, a price-to-earnings-growth ratio of 0.49 and a beta of 1.68. The stock has a fifty day moving average of $116.14 and a 200-day moving average of $127.14.

PulteGroup (NYSE:PHM) last posted its earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $3.28 by $0.22. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. Equities research analysts anticipate that PulteGroup, Inc. will post 13.34 earnings per share for the current year.

PulteGroup declared that its board has approved a stock buyback program on Thursday, January 30th that allows the company to buyback $1.50 billion in 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 leadership believes its shares are undervalued.

PulteGroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be issued a $0.22 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 annualized dividend and a dividend yield of 0.80%. PulteGroup’s payout ratio is currently 5.98%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wedbush restated an “outperform” rating and issued a $135.00 price objective on shares of PulteGroup in a research note on Friday, January 31st. Barclays decreased their price objective on shares of PulteGroup from $125.00 to $117.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. StockNews.com cut shares of PulteGroup from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Citigroup reduced their target price on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Finally, Seaport Res Ptn cut shares of PulteGroup from a “hold” rating to a “strong sell” rating in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, PulteGroup currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.86.

About PulteGroup

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.