Harvest Fund Management Co. Ltd Cuts Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Harvest Fund Management Co. Ltd trimmed its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 75.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,433 shares of the construction company's stock after selling 4,508 shares during the period. Harvest Fund Management Co. Ltd's holdings in PulteGroup were worth $156,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Thrivent Financial for Lutherans lifted its stake in shares of PulteGroup by 6.3% in the third quarter. Thrivent Financial for Lutherans now owns 19,524 shares of the construction company's stock valued at $2,803,000 after buying an additional 1,160 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of PulteGroup in the 3rd quarter worth about $788,000. PNC Financial Services Group Inc. boosted its stake in PulteGroup by 6.1% during the 3rd 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. Commerce Bank boosted its stake in PulteGroup by 4.5% during the 3rd quarter. Commerce Bank now owns 25,687 shares of the construction company's stock valued at $3,687,000 after purchasing an additional 1,116 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in PulteGroup by 29.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 4,660 shares of the construction company's stock worth $669,000 after purchasing an additional 1,050 shares in the last quarter. 89.90% of the stock is owned by institutional investors and hedge funds.

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PulteGroup Stock Performance

NYSE PHM traded down $0.11 during trading on Wednesday, hitting $105.21. 1,248,497 shares of the company's stock traded hands, compared to its average volume of 1,877,930. The stock has a market capitalization of $21.30 billion, a price-to-earnings ratio of 7.15, a PEG ratio of 0.29 and a beta of 1.71. 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 business has a 50 day moving average of $108.34 and a 200-day moving average of $121.83. 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, topping 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, equities research analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup declared that its board has authorized a stock repurchase program on Thursday, January 30th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the construction company to buy up to 6.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its stock is undervalued.

PulteGroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors 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 dividend on an annualized basis and a dividend yield of 0.84%. PulteGroup's payout ratio is 5.98%.

Insider Activity at PulteGroup

In other news, EVP Todd N. Sheldon sold 15,191 shares of the company's stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Brien P. O'meara sold 3,500 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $106.40, for a total transaction of $372,400.00. Following the completion of the sale, the vice president now directly owns 11,372 shares in the company, valued at approximately $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. 0.83% of the stock is owned by company insiders.

Analysts Set New Price Targets

PHM has been the topic of several analyst reports. Seaport Res Ptn upgraded PulteGroup from a "strong sell" rating to a "hold" rating in a report on Thursday, March 6th. Barclays reduced their target price on shares of PulteGroup from $125.00 to $117.00 and set an "equal weight" rating for the company in a research note on Friday, January 31st. Wedbush reissued an "outperform" rating and set a $135.00 price target on shares of PulteGroup in a research report on Friday, January 31st. Wells Fargo & Company reduced their price objective on shares of PulteGroup from $165.00 to $140.00 and set an "overweight" rating for the company in a research report on Tuesday, December 17th. Finally, 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. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $140.86.

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.