PulteGroup, Inc. (NYSE:PHM) Shares Sold by Invesco Ltd.

Invesco Ltd. trimmed its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 25.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,857,387 shares of the construction company's stock after selling 996,508 shares during the period. Invesco Ltd. owned about 1.39% of PulteGroup worth $311,169,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Janus Henderson Group PLC increased its holdings in PulteGroup by 7.4% during the 3rd quarter. Janus Henderson Group PLC now owns 30,624 shares of the construction company's stock worth $4,395,000 after purchasing an additional 2,100 shares during the period. IHT Wealth Management LLC bought a new stake in shares of PulteGroup in the third quarter valued at about $247,000. Morse Asset Management Inc lifted its stake in PulteGroup by 26.2% in the third quarter. Morse Asset Management Inc now owns 9,735 shares of the construction company's stock worth $1,397,000 after acquiring an additional 2,020 shares during the period. Wellington Management Group LLP grew its holdings in PulteGroup by 0.7% during the 3rd quarter. Wellington Management Group LLP now owns 35,191 shares of the construction company's stock worth $5,051,000 after acquiring an additional 258 shares in the last quarter. Finally, EP Wealth Advisors LLC increased its position in PulteGroup by 15.4% during the 3rd quarter. EP Wealth Advisors LLC now owns 2,829 shares of the construction company's stock valued at $406,000 after purchasing an additional 377 shares during the period. 89.90% of the stock is currently owned by institutional investors.

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Insider Activity

In other PulteGroup news, Director Brian P. Anderson sold 2,500 shares of the business's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $106.45, for a total value of $266,125.00. Following the transaction, the director now directly owns 56,617 shares in the company, valued at $6,026,879.65. The trade was a 4.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 completion of the transaction, the executive vice president now owns 74,758 shares of the company's stock, valued at $7,961,727. The trade was a 16.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,191 shares of company stock valued at $2,256,367 in the last three months. 0.76% of the stock is currently owned by corporate insiders.

PulteGroup Stock Performance

NYSE PHM traded down $0.45 during trading hours on Tuesday, reaching $94.99. The stock had a trading volume of 490,708 shares, compared to its average volume of 1,984,201. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $149.47. The stock has a fifty day moving average of $103.07 and a 200 day moving average of $117.40. 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 stock has a market cap of $19.23 billion, a P/E ratio of 6.46, a price-to-earnings-growth 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%. Sell-side analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

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

PulteGroup Announces Dividend

The company also recently disclosed 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 was Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.93%. PulteGroup's payout ratio is 5.98%.

Analyst Ratings Changes

Several brokerages recently issued reports on PHM. Bank of America cut their price objective on shares of PulteGroup from $135.00 to $134.00 and set a "buy" rating on the stock in a report on Monday, January 27th. The Goldman Sachs Group decreased their price objective 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 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. Oppenheimer lowered their price target on shares of PulteGroup from $165.00 to $150.00 and set an "outperform" rating on the stock in a report on Friday, January 31st. Finally, Wedbush reaffirmed an "outperform" rating and issued a $135.00 price objective on shares of PulteGroup in a research report on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, PulteGroup has an average rating of "Moderate Buy" and a consensus target price 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.