Empowered Funds LLC Cuts Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Empowered Funds LLC reduced its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 18.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 137,888 shares of the construction company's stock after selling 31,971 shares during the period. Empowered Funds LLC owned approximately 0.07% of PulteGroup worth $15,016,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in PHM. FMR LLC lifted its stake in PulteGroup by 102.3% during the third quarter. FMR LLC now owns 9,040,828 shares of the construction company's stock worth $1,297,630,000 after purchasing an additional 4,571,757 shares during the last quarter. Franklin Resources Inc. lifted its stake in 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. Westfield Capital Management Co. LP bought a new stake in PulteGroup during the third quarter worth $66,485,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in PulteGroup by 357.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 521,958 shares of the construction company's stock worth $74,917,000 after purchasing an additional 407,764 shares during the last quarter. Finally, KBC Group NV increased its holdings in shares of PulteGroup by 1,020.0% during the third quarter. KBC Group NV now owns 435,925 shares of the construction company's stock worth $62,568,000 after buying an additional 397,003 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Brian P. Anderson sold 2,500 shares of the company's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $106.45, for a total value of $266,125.00. Following the completion of the transaction, the director now directly owns 56,617 shares in the company, valued at approximately $6,026,879.65. The trade was a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.83% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. The Goldman Sachs Group dropped their price target on PulteGroup from $140.00 to $124.00 and set a "neutral" rating for the company in a research note on Tuesday, January 14th. Citigroup dropped their price target on PulteGroup from $146.00 to $119.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. Seaport Res Ptn cut PulteGroup from a "hold" rating to a "strong sell" rating in a research note on Monday, January 27th. Evercore ISI dropped their price target on PulteGroup from $198.00 to $195.00 and set an "outperform" rating for the company in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. dropped their price target on PulteGroup from $162.00 to $155.00 and set an "overweight" rating for the company in a research note on Friday, December 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, PulteGroup presently has a consensus rating of "Moderate Buy" and an average target price of $140.86.

PulteGroup Stock Down 1.2 %

PHM stock traded down $1.32 during mid-day trading on Wednesday, reaching $106.01. 2,274,421 shares of the company traded hands, compared to its average volume of 2,320,737. The company has a quick ratio of 0.73, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. The stock has a market cap of $21.74 billion, a price-to-earnings ratio of 7.21, a P/E/G ratio of 0.29 and a beta of 1.68. The firm's 50 day moving average price is $113.91 and its 200 day moving average price is $126.63. PulteGroup, Inc. has a fifty-two week low of $100.24 and a fifty-two week high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last issued its earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share (EPS) for the quarter, beating 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%. As a group, equities research analysts predict that PulteGroup, Inc. will post 12.43 EPS for the current fiscal year.

PulteGroup declared that its Board of Directors has initiated 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 purchase up to 6.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its shares are undervalued.

PulteGroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.22 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.83%. PulteGroup's dividend payout ratio (DPR) is currently 5.98%.

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.