Envestnet Portfolio Solutions Inc. Sells 5,007 Shares of PulteGroup, Inc. (NYSE:PHM)

Envestnet Portfolio Solutions Inc. reduced its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 24.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,281 shares of the construction company's stock after selling 5,007 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in PulteGroup were worth $1,664,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of PHM. Thrivent Financial for Lutherans raised its holdings in PulteGroup by 6.3% during the third quarter. Thrivent Financial for Lutherans now owns 19,524 shares of the construction company's stock worth $2,803,000 after purchasing an additional 1,160 shares in the last quarter. Prospera Financial Services Inc boosted its position in shares of PulteGroup by 4.8% in the 3rd quarter. Prospera Financial Services Inc now owns 9,654 shares of the construction company's stock worth $1,386,000 after buying an additional 438 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its position in PulteGroup by 5.0% during the third quarter. Fifth Third Wealth Advisors LLC now owns 2,426 shares of the construction company's stock worth $348,000 after buying an additional 115 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of PulteGroup during the third quarter valued at approximately $788,000. Finally, PNC Financial Services Group Inc. increased its stake in PulteGroup by 6.1% in the third quarter. PNC Financial Services Group Inc. now owns 36,152 shares of the construction company's stock valued at $5,189,000 after purchasing an additional 2,067 shares during the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several brokerages recently issued reports on PHM. Wedbush reiterated an "outperform" rating and issued a $135.00 price target on shares of PulteGroup in a report on Friday, January 31st. StockNews.com downgraded PulteGroup from a "buy" rating to a "hold" rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. lowered their price objective on shares of PulteGroup from $162.00 to $155.00 and set an "overweight" rating for the company in a research report on Friday, December 13th. Citigroup cut their price objective on shares of PulteGroup from $146.00 to $119.00 and set a "neutral" rating on the stock in a research report on Monday, January 6th. Finally, Oppenheimer cut their target price on PulteGroup from $165.00 to $150.00 and set an "outperform" rating on the stock in a research note on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $140.86.

Insider Activity at PulteGroup

In other PulteGroup news, EVP Todd N. Sheldon sold 15,191 shares of the business's stock in a transaction dated 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 transaction, the executive vice president now owns 74,758 shares in the company, valued at $7,961,727. The trade was a 16.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Brian P. Anderson sold 2,500 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were 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 in the company, valued at approximately $6,026,879.65. The trade was a 4.23 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,191 shares of company stock valued at $2,256,367. Corporate insiders own 0.83% of the company's stock.

PulteGroup Trading Down 0.1 %

Shares of PulteGroup stock traded down $0.11 during trading on Wednesday, hitting $105.21. The stock had a trading volume of 1,248,497 shares, compared to its average volume of 1,877,930. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $21.30 billion, a PE ratio of 7.15, a P/E/G ratio of 0.29 and a beta of 1.71. PulteGroup, Inc. has a 1 year low of $100.35 and a 1 year high of $149.47. The stock has a 50 day simple moving average of $108.34 and a 200 day simple moving average of $121.83.

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 for the quarter, beating analysts' consensus estimates of $3.28 by $0.22. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. On average, research analysts expect that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Announces Dividend

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

PulteGroup announced that its Board of Directors has authorized a share 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 buy up to 6.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors 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.