KLP Kapitalforvaltning AS Makes New $16.49 Million Investment in PulteGroup, Inc. (NYSE:PHM)

KLP Kapitalforvaltning AS purchased a new position in PulteGroup, Inc. (NYSE:PHM - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 151,164 shares of the construction company's stock, valued at approximately $16,488,000. KLP Kapitalforvaltning AS owned about 0.07% of PulteGroup at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Richardson Financial Services Inc. grew its position in PulteGroup by 16.7% during the 4th quarter. Richardson Financial Services Inc. now owns 622 shares of the construction company's stock worth $68,000 after purchasing an additional 89 shares during the last quarter. Premier Path Wealth Partners LLC increased its position in shares of PulteGroup by 3.8% in the 4th quarter. Premier Path Wealth Partners LLC now owns 2,572 shares of the construction company's stock valued at $280,000 after acquiring an additional 95 shares during the period. Meridian Wealth Management LLC raised its stake in PulteGroup by 0.7% in the 4th quarter. Meridian Wealth Management LLC now owns 13,224 shares of the construction company's stock worth $1,440,000 after acquiring an additional 95 shares during the last quarter. Fidelis Capital Partners LLC lifted its position in PulteGroup by 2.4% during the 4th quarter. Fidelis Capital Partners LLC now owns 4,384 shares of the construction company's stock worth $479,000 after acquiring an additional 103 shares during the period. Finally, Wedmont Private Capital lifted its stake in PulteGroup by 3.7% during the 4th quarter. Wedmont Private Capital now owns 3,050 shares of the construction company's stock valued at $328,000 after acquiring an additional 110 shares during the period. 89.90% of the stock is owned by institutional investors and hedge funds.

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Insider Transactions at PulteGroup

In other PulteGroup news, VP Brien P. O'meara sold 3,500 shares of the firm's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $106.40, for a total transaction of $372,400.00. Following the transaction, the vice president now directly owns 11,372 shares of the company's stock, valued at approximately $1,209,980.80. This trade represents a 23.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Todd N. Sheldon sold 15,191 shares of PulteGroup stock in a transaction on Thursday, February 13th. The shares were 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 in the company, valued at approximately $7,961,727. This represents a 16.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,191 shares of company stock worth $2,256,367. Insiders own 0.83% of the company's stock.

Analysts Set New Price Targets

PHM has been the subject of several recent analyst reports. The Goldman Sachs Group cut their price target on shares of PulteGroup from $140.00 to $124.00 and set a "neutral" rating for the company in a report on Tuesday, January 14th. Wells Fargo & Company decreased their price target on shares of PulteGroup from $165.00 to $140.00 and set an "overweight" rating on the stock in a research note on Tuesday, December 17th. Citigroup reduced their target price on PulteGroup from $146.00 to $119.00 and set a "neutral" rating for the company in a report on Monday, January 6th. JPMorgan Chase & Co. lowered their price target on PulteGroup from $162.00 to $155.00 and set an "overweight" rating on the stock in a research note on Friday, December 13th. Finally, Barclays reduced their price objective on PulteGroup from $125.00 to $117.00 and set an "equal weight" rating for the company in a research note on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $140.86.

PulteGroup Stock Down 3.1 %

Shares of PHM stock traded down $3.28 during trading hours on Friday, reaching $101.76. 1,412,997 shares of the stock were exchanged, compared to its average volume of 1,950,285. PulteGroup, Inc. has a 12-month low of $100.35 and a 12-month high of $149.47. The business's fifty day moving average is $107.58 and its two-hundred day moving average is $121.39. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market capitalization of $20.60 billion, a P/E ratio of 6.92, a P/E/G ratio of 0.29 and a beta of 1.71.

PulteGroup (NYSE:PHM - Get Free Report) last issued its earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.28 by $0.22. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. As a group, research analysts expect that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup declared that its Board of Directors has authorized a stock repurchase program on Thursday, January 30th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 6.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

PulteGroup Dividend Announcement

The company also recently disclosed 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. This represents a $0.88 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Tuesday, March 18th. PulteGroup's payout ratio is currently 5.98%.

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.