PulteGroup, Inc. (NYSE:PHM) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 20.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 684,625 shares of the construction company's stock after selling 176,862 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.33% of PulteGroup worth $73,785,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Leavell Investment Management Inc. raised its stake in shares of PulteGroup by 14.2% in the fourth quarter. Leavell Investment Management Inc. now owns 1,838 shares of the construction company's stock valued at $201,000 after acquiring an additional 229 shares during the period. Sovran Advisors LLC purchased a new stake in shares of PulteGroup in the fourth quarter valued at $257,000. Compound Global Advisors LLC purchased a new stake in shares of PulteGroup in the fourth quarter valued at $348,000. Bristlecone Advisors LLC raised its stake in shares of PulteGroup by 47.6% in the fourth quarter. Bristlecone Advisors LLC now owns 2,479 shares of the construction company's stock valued at $270,000 after acquiring an additional 799 shares during the period. Finally, Entropy Technologies LP purchased a new stake in shares of PulteGroup in the fourth quarter valued at $1,299,000. Hedge funds and other institutional investors own 89.90% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Oppenheimer reduced their target price on shares of PulteGroup from $165.00 to $150.00 and set an "outperform" rating on the stock in a research note on Friday, January 31st. Barclays reduced their price target on shares of PulteGroup from $125.00 to $117.00 and set an "equal weight" rating on the stock in a research note on Friday, January 31st. BTIG Research raised their target price on shares of PulteGroup from $139.00 to $156.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group cut their target price on shares of PulteGroup from $140.00 to $124.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 14th. Finally, Evercore ISI cut their price objective on shares of PulteGroup from $198.00 to $195.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, PulteGroup has an average rating of "Moderate Buy" and an average price target of $140.86.

PulteGroup Stock Performance

NYSE PHM traded up $0.75 on Friday, hitting $107.45. 1,519,276 shares of the company's stock traded hands, compared to its average volume of 2,329,279. 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, Inc. has a 1-year low of $100.24 and a 1-year high of $149.47. The firm's 50-day moving average price is $112.63 and its two-hundred day moving average price is $126.12. The firm has a market capitalization of $22.04 billion, a PE ratio of 7.30, a P/E/G ratio of 0.29 and a beta of 1.68.

PulteGroup (NYSE:PHM - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, beating the consensus estimate of $3.28 by $0.22. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. As a group, analysts expect that PulteGroup, Inc. will post 12.43 EPS for the current year.

PulteGroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Tuesday, March 18th. PulteGroup's payout ratio is 5.98%.

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

Insider Activity

In other news, EVP Todd N. Sheldon sold 15,191 shares of PulteGroup stock in a transaction that occurred 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 directly owns 74,758 shares of the company's stock, valued at $7,961,727. The trade was a 16.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian P. Anderson sold 2,500 shares of the business's stock in a transaction on 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 sale, the director now directly owns 56,617 shares of the company's stock, valued at approximately $6,026,879.65. The trade was a 4.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,191 shares of company stock valued at $2,256,367 in the last three months. 0.83% of the stock is currently owned by corporate insiders.

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.