Canada Pension Plan Investment Board Sells 18,422 Shares of PulteGroup, Inc. (NYSE:PHM)

Canada Pension Plan Investment Board lowered its position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 10.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 157,181 shares of the construction company's stock after selling 18,422 shares during the period. Canada Pension Plan Investment Board owned 0.08% of PulteGroup worth $17,117,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Hager Investment Management Services LLC bought a new position in PulteGroup in the 4th quarter valued at about $29,000. Fortitude Family Office LLC increased its stake in shares of PulteGroup by 74.1% during the fourth quarter. Fortitude Family Office LLC now owns 322 shares of the construction company's stock valued at $35,000 after acquiring an additional 137 shares during the period. R Squared Ltd bought a new stake in PulteGroup during the fourth quarter worth approximately $39,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in PulteGroup by 41.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 444 shares of the construction company's stock worth $48,000 after purchasing an additional 131 shares during the period. Finally, Oakworth Capital Inc. boosted its stake in PulteGroup by 642.2% during the 4th quarter. Oakworth Capital Inc. now owns 475 shares of the construction company's stock valued at $52,000 after purchasing an additional 411 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company's stock.

PulteGroup Stock Down 0.8 %

Shares of NYSE:PHM traded down $0.87 during trading on Friday, reaching $101.98. 1,861,192 shares of the company traded hands, compared to its average volume of 1,996,525. The firm has a fifty day simple moving average of $101.44 and a 200 day simple moving average of $115.25. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a 1-year low of $88.07 and a 1-year high of $149.47. The firm has a market cap of $20.65 billion, a P/E ratio of 6.93, a price-to-earnings-growth ratio of 0.29 and a beta of 1.44.

PulteGroup (NYSE:PHM - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The construction company reported $2.57 EPS for the quarter, beating analysts' consensus estimates of $2.47 by $0.10. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. The firm had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.86 billion. During the same quarter in the previous year, the company posted $3.10 earnings per share. Analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup declared that its board has authorized a share buyback program on Thursday, January 30th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the construction company to buy up to 6.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

PulteGroup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend was Tuesday, March 18th. PulteGroup's dividend payout ratio (DPR) is presently 6.21%.

Insiders Place Their Bets

In related news, VP Brien P. O'meara sold 3,500 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The stock was 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 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Todd N. Sheldon sold 15,191 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $106.50, for a total value of $1,617,841.50. Following the sale, 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 disclosure for this sale can be found here. Insiders sold 21,191 shares of company stock valued at $2,256,367 over the last ninety days. Corporate insiders own 0.76% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PHM shares. The Goldman Sachs Group cut their price objective on PulteGroup from $140.00 to $124.00 and set a "neutral" rating for the company in a report on Tuesday, January 14th. Citigroup reduced their price objective 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. Wells Fargo & Company dropped their target price on shares of PulteGroup from $140.00 to $120.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Evercore ISI lifted their price target on shares of PulteGroup from $161.00 to $165.00 and gave the stock an "outperform" rating in a research report on Wednesday. Finally, Seaport Res Ptn raised PulteGroup from a "strong sell" rating to a "hold" rating in a research note on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, PulteGroup has a consensus rating of "Moderate Buy" and an average target price of $134.69.

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.