abrdn plc Sells 26,077 Shares of PulteGroup, Inc. (NYSE:PHM)

abrdn plc cut its stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 29.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,322 shares of the construction company's stock after selling 26,077 shares during the quarter. abrdn plc's holdings in PulteGroup were worth $6,699,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PHM. FMR LLC boosted its position in shares of PulteGroup by 102.3% in the third quarter. FMR LLC now owns 9,040,828 shares of the construction company's stock worth $1,297,630,000 after buying an additional 4,571,757 shares during the period. Franklin Resources Inc. boosted its position in shares of PulteGroup by 5.5% in the third quarter. Franklin Resources Inc. now owns 11,254,274 shares of the construction company's stock worth $1,647,364,000 after buying an additional 585,735 shares during the period. Westfield Capital Management Co. LP acquired a new stake in shares of PulteGroup in the third quarter worth $66,485,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of PulteGroup by 357.1% in the third 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 period. Finally, KBC Group NV boosted its position in shares of PulteGroup by 1,020.0% in the third quarter. KBC Group NV now owns 435,925 shares of the construction company's stock worth $62,568,000 after buying an additional 397,003 shares during the period. 89.90% of the stock is owned by institutional investors.

Insider Buying and Selling at PulteGroup

In other news, Director Brian P. Anderson sold 2,500 shares of PulteGroup stock in a transaction that occurred on 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 transaction, the director now owns 56,617 shares in the company, valued at approximately $6,026,879.65. The trade was a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.83% of the company's stock.

PulteGroup Stock Performance

PHM stock traded down $1.32 during trading on Wednesday, reaching $106.01. 2,274,421 shares of the stock were exchanged, compared to its average volume of 2,320,737. PulteGroup, Inc. has a twelve month low of $100.24 and a twelve month high of $149.47. The company has a market capitalization of $21.74 billion, a P/E ratio of 7.21, a price-to-earnings-growth ratio of 0.29 and a beta of 1.68. The stock has a 50 day simple moving average of $113.91 and a 200-day simple moving average of $126.63. The company has a current ratio of 0.86, a quick ratio of 0.73 and a debt-to-equity ratio of 0.13.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings data 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%. As a group, sell-side analysts anticipate that PulteGroup, Inc. will post 12.43 earnings per share for the current year.

PulteGroup declared that its board has initiated a share repurchase plan on Thursday, January 30th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the construction company to reacquire up to 6.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's management believes its stock is undervalued.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date is Tuesday, March 18th. PulteGroup's payout ratio is 5.98%.

Wall Street Analysts Forecast Growth

PHM has been the subject of several recent research reports. Oppenheimer cut their price objective on PulteGroup from $165.00 to $150.00 and set an "outperform" rating for the company in a report on Friday, January 31st. BTIG Research raised their target price on PulteGroup from $139.00 to $156.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. UBS Group raised their target price on PulteGroup from $148.00 to $151.00 and gave the company a "buy" rating in a report on Friday, January 31st. Wells Fargo & Company cut their target price on PulteGroup from $165.00 to $140.00 and set an "overweight" rating on the stock in a report on Tuesday, December 17th. Finally, Evercore ISI cut their target price on PulteGroup from $198.00 to $195.00 and set an "outperform" rating on the stock in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $140.86.

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.