Alliancebernstein L.P. Has $60.22 Million Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Alliancebernstein L.P. lowered its stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 48.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 552,944 shares of the construction company's stock after selling 519,468 shares during the period. Alliancebernstein L.P. owned 0.27% of PulteGroup worth $60,216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Norges Bank bought a new stake in shares of PulteGroup during the fourth quarter worth $427,562,000. Amundi boosted its position in PulteGroup by 77.9% in the 4th quarter. Amundi now owns 1,636,562 shares of the construction company's stock worth $180,775,000 after purchasing an additional 716,716 shares in the last quarter. Franklin Resources Inc. raised its stake 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 worth $1,647,364,000 after buying an additional 585,735 shares during the period. Lord Abbett & CO. LLC raised its stake in PulteGroup by 3,118.4% in the 3rd quarter. Lord Abbett & CO. LLC now owns 376,717 shares of the construction company's stock valued at $54,070,000 after purchasing an additional 365,012 shares during the last quarter. Finally, World Investment Advisors LLC grew its holdings in PulteGroup by 2,732.3% in the 3rd quarter. World Investment Advisors LLC now owns 221,172 shares of the construction company's stock valued at $31,745,000 after buying an additional 213,363 shares in the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

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PulteGroup Trading Down 3.8 %

PHM stock traded down $3.64 during midday trading on Thursday, reaching $93.53. 296,851 shares of the company's stock traded hands, compared to its average volume of 1,975,700. 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 business has a 50-day moving average price of $104.03 and a two-hundred day moving average price of $118.56. The company has a market capitalization of $18.94 billion, a P/E ratio of 6.37, a PEG ratio of 0.29 and a beta of 1.44. PulteGroup, Inc. has a fifty-two week low of $88.07 and a fifty-two week high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share (EPS) 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%. Equities research analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend was Tuesday, March 18th. PulteGroup's dividend payout ratio (DPR) is 5.98%.

PulteGroup declared that its Board of Directors has approved a share buyback plan on Thursday, January 30th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to buy up to 6.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PHM. Bank of America lowered their price target on PulteGroup from $135.00 to $134.00 and set a "buy" rating for the company in a report on Monday, January 27th. Wedbush reaffirmed an "outperform" rating and issued a $135.00 price target on shares of PulteGroup in a research report on Friday, January 31st. Barclays cut their target price on PulteGroup from $117.00 to $100.00 and set an "equal weight" rating on the stock in a research report on Tuesday. The Goldman Sachs Group cut their price target on PulteGroup from $140.00 to $124.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 14th. Finally, Seaport Res Ptn raised PulteGroup from a "strong sell" rating to a "hold" rating in a report on Thursday, March 6th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $139.64.

Insiders Place Their Bets

In related news, Director Brian P. Anderson sold 2,500 shares of the firm's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $106.45, for a total transaction of $266,125.00. Following the completion of the transaction, the director now owns 56,617 shares of the company's stock, valued at $6,026,879.65. This trade represents a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Todd N. Sheldon sold 15,191 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $106.50, for a total value 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 $7,961,727. This trade represents a 16.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,191 shares of company stock valued at $2,256,367 over the last three months. Company insiders own 0.76% of the company's stock.

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.