J. Safra Sarasin Holding AG Lowers Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

J. Safra Sarasin Holding AG trimmed its stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 17.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 178,945 shares of the construction company's stock after selling 38,320 shares during the period. J. Safra Sarasin Holding AG owned approximately 0.09% of PulteGroup worth $19,487,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Franklin Resources Inc. boosted its holdings in shares of PulteGroup by 6.1% in the fourth quarter. Franklin Resources Inc. now owns 11,937,866 shares of the construction company's stock worth $1,300,034,000 after buying an additional 683,592 shares during the last quarter. Geode Capital Management LLC raised its position in PulteGroup by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 5,120,878 shares of the construction company's stock worth $556,465,000 after acquiring an additional 64,947 shares during the period. Norges Bank purchased a new position in shares of PulteGroup during the 4th quarter worth $427,562,000. Amundi grew its position in shares of PulteGroup by 77.9% during the 4th quarter. Amundi now owns 1,636,562 shares of the construction company's stock valued at $180,775,000 after acquiring an additional 716,716 shares during the period. Finally, Nordea Investment Management AB increased its stake in shares of PulteGroup by 10.0% in the 4th quarter. Nordea Investment Management AB now owns 1,424,119 shares of the construction company's stock worth $155,856,000 after purchasing an additional 129,975 shares in the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Price Performance

Shares of PHM traded down $0.87 during mid-day trading on Friday, hitting $101.98. 1,861,826 shares of the stock were exchanged, compared to its average volume of 1,996,525. The firm has a 50-day moving average of $101.44 and a two-hundred day moving average of $115.25. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $149.47. 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 company has a market cap of $20.65 billion, a PE ratio of 6.93, 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 results on Tuesday, April 22nd. The construction company reported $2.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.47 by $0.10. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. The company had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.86 billion. During the same quarter in the prior year, the firm earned $3.10 earnings per share. On average, equities analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup declared that its Board of Directors has approved a stock buyback plan on Thursday, January 30th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the construction company to buy up to 6.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th were given a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.88 annualized dividend and a yield of 0.86%. PulteGroup's dividend payout ratio is currently 6.21%.

Insiders Place Their Bets

In related news, Director Brian P. Anderson sold 2,500 shares of the firm's stock in a transaction on Monday, February 10th. The stock was 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 $6,026,879.65. This trade represents a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Todd N. Sheldon sold 15,191 shares of PulteGroup 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 transaction, the executive vice president now directly owns 74,758 shares of the company's stock, valued at approximately $7,961,727. This represents a 16.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,191 shares of company stock valued at $2,256,367 over the last ninety days. 0.76% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PHM has been the subject of several recent research reports. Citigroup cut their price target on PulteGroup from $146.00 to $119.00 and set a "neutral" rating for the company in a report on Monday, January 6th. Barclays cut their price objective on PulteGroup from $100.00 to $98.00 and set an "equal weight" rating for the company in a research note on Wednesday. UBS Group decreased their target price on shares of PulteGroup from $151.00 to $141.00 and set a "buy" rating on the stock in a research note on Wednesday. Wells Fargo & Company dropped their price target on shares of PulteGroup from $140.00 to $120.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Finally, Royal Bank of Canada dropped their target price on shares of PulteGroup from $116.00 to $109.00 and set a "sector perform" rating for the company in a report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $134.69.

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.