Envestnet Asset Management Inc. Trims Holdings in PulteGroup, Inc. (NYSE:PHM)

Envestnet Asset Management Inc. reduced its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 13.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 312,997 shares of the construction company's stock after selling 47,551 shares during the period. Envestnet Asset Management Inc. owned approximately 0.15% of PulteGroup worth $34,085,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Grantham Mayo Van Otterloo & Co. LLC boosted its position in PulteGroup by 68.5% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 279,792 shares of the construction company's stock worth $30,469,000 after purchasing an additional 113,772 shares during the last quarter. Aviva PLC boosted its holdings in shares of PulteGroup by 44.6% in the fourth quarter. Aviva PLC now owns 129,725 shares of the construction company's stock worth $14,127,000 after buying an additional 40,002 shares during the last quarter. Resona Asset Management Co. Ltd. bought a new stake in PulteGroup during the fourth quarter valued at approximately $7,642,000. Smith Moore & CO. grew its position in PulteGroup by 1.9% during the fourth quarter. Smith Moore & CO. now owns 8,519 shares of the construction company's stock valued at $928,000 after buying an additional 158 shares during the period. Finally, Pitcairn Co. increased its holdings in PulteGroup by 18.7% during the fourth quarter. Pitcairn Co. now owns 14,408 shares of the construction company's stock valued at $1,569,000 after buying an additional 2,273 shares during the last quarter. Institutional investors own 89.90% of the company's stock.

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Insider Activity

In related news, Director Brian P. Anderson sold 2,500 shares of the 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 sale, the director now owns 56,617 shares in the company, valued at approximately $6,026,879.65. This represents a 4.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Brien P. O'meara sold 3,500 shares of PulteGroup stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $106.40, for a total transaction of $372,400.00. Following the transaction, the vice president now directly owns 11,372 shares of the company's stock, valued at $1,209,980.80. The trade was a 23.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,191 shares of company stock worth $2,256,367. 0.76% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently commented on PHM. Barclays reduced their price objective on PulteGroup from $117.00 to $100.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Bank of America lowered their price objective on PulteGroup from $135.00 to $134.00 and set a "buy" rating on the stock in a research report on Monday, January 27th. Oppenheimer cut their price objective on PulteGroup from $165.00 to $150.00 and set an "outperform" rating for the company in a research note on Friday, January 31st. Seaport Res Ptn upgraded shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research note on Thursday, March 6th. Finally, Wells Fargo & Company lowered their price target on shares of PulteGroup from $140.00 to $120.00 and set an "overweight" rating on the stock in a report on Monday. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, PulteGroup has an average rating of "Moderate Buy" and an average price target of $138.21.

PulteGroup Price Performance

PulteGroup stock traded down $0.63 during midday trading on Tuesday, reaching $94.81. 1,725,836 shares of the stock traded hands, compared to its average volume of 1,988,945. 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 12 month low of $88.07 and a 12 month high of $149.47. The stock's fifty day moving average is $103.07 and its 200-day moving average is $117.40. The stock has a market cap of $19.20 billion, a P/E ratio of 6.45, a PEG ratio of 0.29 and a beta of 1.44.

PulteGroup (NYSE:PHM - Get Free Report) last posted its earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share 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 anticipate that PulteGroup, Inc. will post 12.32 EPS for the current year.

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

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 $0.22 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.93%. PulteGroup's dividend payout ratio (DPR) is presently 5.98%.

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.