Cibc World Markets Corp Has $3.54 Million Stake in PulteGroup, Inc. (NYSE:PHM)

Cibc World Markets Corp increased its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 14.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,496 shares of the construction company's stock after acquiring an additional 4,193 shares during the period. Cibc World Markets Corp's holdings in PulteGroup were worth $3,539,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Franklin Resources Inc. grew its holdings in shares of PulteGroup by 5.5% during the third quarter. Franklin Resources Inc. now owns 11,254,274 shares of the construction company's stock worth $1,647,364,000 after purchasing an additional 585,735 shares during the last quarter. FMR LLC lifted its position in PulteGroup by 102.3% during the 3rd 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in PulteGroup by 7.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,864,040 shares of the construction company's stock worth $267,546,000 after acquiring an additional 135,391 shares during the last quarter. Amundi increased its position in PulteGroup by 77.9% in the 4th quarter. Amundi now owns 1,636,562 shares of the construction company's stock valued at $180,775,000 after acquiring an additional 716,716 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake 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 during the last quarter. 89.90% of the stock is currently owned by institutional investors.

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Insider Activity

In related news, Director Brian P. Anderson sold 2,500 shares of the business's stock in a transaction that occurred 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 transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Todd N. Sheldon sold 15,191 shares of PulteGroup stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $106.50, for a total transaction of $1,617,841.50. Following the transaction, the executive vice president now directly owns 74,758 shares of the company's stock, valued at approximately $7,961,727. This trade represents a 16.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,191 shares of company stock valued at $2,256,367. 0.83% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PHM. Wells Fargo & Company lowered their price target on shares of PulteGroup from $165.00 to $140.00 and set an "overweight" rating for the company in a report on Tuesday, December 17th. Seaport Res Ptn upgraded PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 6th. UBS Group raised their price target on PulteGroup from $148.00 to $151.00 and gave the company a "buy" rating in a report on Friday, January 31st. Barclays cut their price target on PulteGroup from $125.00 to $117.00 and set an "equal weight" rating on the stock in a research note on Friday, January 31st. Finally, Citigroup decreased their price objective on PulteGroup from $146.00 to $119.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $140.86.

PulteGroup Stock Down 0.5 %

PHM traded down $0.57 on Tuesday, hitting $105.28. 1,979,885 shares of the company were exchanged, compared to its average volume of 1,878,103. 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 stock's fifty day moving average is $108.48 and its 200-day moving average is $122.01. The company has a market cap of $21.31 billion, a PE ratio of 7.16, a PEG ratio of 0.29 and a beta of 1.71. PulteGroup, Inc. has a 12 month low of $100.35 and a 12 month high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last released 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 return on equity of 24.43% and a net margin of 17.18%. Equities research analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

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

PulteGroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.88 annualized dividend and a dividend yield of 0.84%. PulteGroup's dividend payout ratio is presently 5.98%.

PulteGroup Company 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.