APG Asset Management N.V. Invests $11.95 Million in PulteGroup, Inc. (NYSE:PHM)

APG Asset Management N.V. purchased a new stake in PulteGroup, Inc. (NYSE:PHM - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 113,600 shares of the construction company's stock, valued at approximately $11,947,000. APG Asset Management N.V. owned 0.06% of PulteGroup as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in PHM. Franklin Resources Inc. boosted its stake in PulteGroup by 6.1% during the fourth quarter. Franklin Resources Inc. now owns 11,937,866 shares of the construction company's stock worth $1,300,034,000 after buying an additional 683,592 shares during the last quarter. Geode Capital Management LLC increased its position in shares of PulteGroup by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 5,120,878 shares of the construction company's stock valued at $556,465,000 after buying an additional 64,947 shares in the last quarter. Norges Bank acquired a new stake in PulteGroup during the fourth quarter worth approximately $427,562,000. Amundi increased its position in PulteGroup by 77.9% during the fourth 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 during the last quarter. Finally, Nordea Investment Management AB increased its position in shares of PulteGroup by 10.0% in the fourth quarter. Nordea Investment Management AB now owns 1,424,119 shares of the construction company's stock worth $155,856,000 after acquiring an additional 129,975 shares in the last quarter. 89.90% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

PHM has been the subject of a number of recent analyst reports. Barclays decreased their price objective on PulteGroup from $117.00 to $100.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Oppenheimer cut their target price on PulteGroup from $165.00 to $150.00 and set an "outperform" rating for the company in a research note on Friday, January 31st. Citigroup lowered their price target 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. Bank of America decreased their target price on shares of PulteGroup from $135.00 to $134.00 and set a "buy" rating for the company in a research note on Monday, January 27th. Finally, The Goldman Sachs Group reduced their price objective on PulteGroup from $140.00 to $124.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 14th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $138.21.

Insider Activity

In other PulteGroup news, EVP Todd N. Sheldon sold 15,191 shares of the stock in a transaction dated 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 $7,961,727. This trade represents a 16.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Brien P. O'meara sold 3,500 shares of the firm's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $106.40, for a total value of $372,400.00. Following the transaction, the vice president now directly owns 11,372 shares in the company, valued at approximately $1,209,980.80. This represents a 23.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,191 shares of company stock valued at $2,256,367 in the last 90 days. 0.76% of the stock is owned by company insiders.

PulteGroup Stock Down 0.9 %

PulteGroup stock traded down $0.88 during trading on Wednesday, reaching $93.91. 378,124 shares of the company's stock were exchanged, compared to its average volume of 1,983,276. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $149.47. The firm has a market cap of $19.01 billion, a price-to-earnings ratio of 6.38, a PEG ratio of 0.29 and a beta of 1.44. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86. The company's 50-day moving average is $102.77 and its two-hundred day moving average is $117.25.

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, beating 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%. On average, analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th were issued a dividend of $0.22 per share. 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 payout ratio is presently 5.98%.

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

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.