Federated Hermes Inc. Sells 52,430 Shares of PulteGroup, Inc. (NYSE:PHM)

Federated Hermes Inc. lowered its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 62.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 31,462 shares of the construction company's stock after selling 52,430 shares during the quarter. Federated Hermes Inc.'s holdings in PulteGroup were worth $3,426,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Hager Investment Management Services LLC bought a new stake in shares of PulteGroup in the 4th quarter valued at $29,000. Fortitude Family Office LLC increased its holdings in shares of PulteGroup by 74.1% in the fourth quarter. Fortitude Family Office LLC now owns 322 shares of the construction company's stock worth $35,000 after acquiring an additional 137 shares in the last quarter. R Squared Ltd bought a new stake in shares of PulteGroup in the fourth quarter worth about $39,000. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of PulteGroup by 41.9% during 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. lifted its holdings in shares of 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. 89.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity at PulteGroup

In other news, Director Brian P. Anderson sold 2,500 shares of PulteGroup stock in a transaction that occurred 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 sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Todd N. Sheldon sold 15,191 shares of the 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 in the company, valued at $7,961,727. This represents a 16.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,191 shares of company stock worth $2,256,367 in the last ninety days. 0.76% of the stock is owned by company insiders.

PulteGroup Stock Performance

Shares of PHM stock traded up $2.01 during trading on Friday, reaching $94.87. 2,870,580 shares of the company's stock were exchanged, compared to its average volume of 1,996,144. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month high of $149.47. The firm's fifty day moving average price is $102.28 and its 200-day moving average price is $116.74. 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 stock has a market capitalization of $19.21 billion, a PE ratio of 6.45, a PEG ratio of 0.29 and a beta of 1.44.

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 net margin of 17.18% and a return on equity of 24.43%. As a group, sell-side analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup declared that its board has approved a share buyback plan 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 plans are typically an indication that the company's leadership believes its shares are undervalued.

PulteGroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend 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 currently 5.98%.

Wall Street Analysts Forecast Growth

PHM has been the subject of a number of research reports. Oppenheimer lowered their target price on PulteGroup from $165.00 to $150.00 and set an "outperform" rating for the company in a report on Friday, January 31st. UBS Group increased their price objective on PulteGroup from $148.00 to $151.00 and gave the stock a "buy" rating in a report on Friday, January 31st. Citigroup cut their target price on PulteGroup from $146.00 to $119.00 and set a "neutral" rating on the stock in a research note on Monday, January 6th. Barclays lowered their price objective on shares of PulteGroup from $117.00 to $100.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Finally, Bank of America reduced their target price on shares of PulteGroup from $135.00 to $134.00 and set a "buy" rating for the company in a report on Monday, January 27th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $138.21.

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.