Legal & General Group Plc decreased its position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 15.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,534,006 shares of the construction company's stock after selling 284,314 shares during the period. Legal & General Group Plc owned about 0.75% of PulteGroup worth $167,053,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in PHM. Richardson Financial Services Inc. grew its position in PulteGroup by 16.7% in the fourth quarter. Richardson Financial Services Inc. now owns 622 shares of the construction company's stock valued at $68,000 after acquiring an additional 89 shares during the last quarter. Premier Path Wealth Partners LLC lifted its stake in shares of PulteGroup by 3.8% in the 4th quarter. Premier Path Wealth Partners LLC now owns 2,572 shares of the construction company's stock valued at $280,000 after acquiring an additional 95 shares during the last quarter. Meridian Wealth Management LLC boosted its holdings in shares of PulteGroup by 0.7% during the 4th quarter. Meridian Wealth Management LLC now owns 13,224 shares of the construction company's stock valued at $1,440,000 after acquiring an additional 95 shares in the last quarter. Fidelis Capital Partners LLC grew its position in PulteGroup by 2.4% during the 4th quarter. Fidelis Capital Partners LLC now owns 4,384 shares of the construction company's stock worth $479,000 after acquiring an additional 103 shares during the last quarter. Finally, Wedmont Private Capital increased its holdings in PulteGroup by 3.7% in the 4th quarter. Wedmont Private Capital now owns 3,050 shares of the construction company's stock worth $328,000 after purchasing an additional 110 shares in the last quarter. 89.90% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several research firms have recently weighed in on PHM. The Goldman Sachs Group reduced their price target on PulteGroup from $140.00 to $124.00 and set a "neutral" rating on the stock in a report on Tuesday, January 14th. Bank of America decreased their price target on shares of PulteGroup from $135.00 to $134.00 and set a "buy" rating for the company in a research report on Monday, January 27th. Oppenheimer cut 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. Barclays decreased their price objective on PulteGroup from $117.00 to $100.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Finally, Citigroup reduced their price target on PulteGroup from $146.00 to $119.00 and set a "neutral" rating on the stock in a research report on Monday, January 6th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $138.21.
Get Our Latest Report on PulteGroup
Insider Buying and Selling at PulteGroup
In related news, EVP Todd N. Sheldon sold 15,191 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $106.50, for a total transaction 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 approximately $7,961,727. The trade was a 16.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brian P. Anderson sold 2,500 shares of the business's stock in a transaction 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 owns 56,617 shares of the company's stock, valued at $6,026,879.65. This trade represents a 4.23 % 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. Corporate insiders own 0.76% of the company's stock.
PulteGroup Stock Down 0.5 %
NYSE PHM traded down $0.43 on Tuesday, hitting $95.01. 511,454 shares of the company were exchanged, compared to its average volume of 2,311,171. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13. The company has a market cap of $19.24 billion, a PE ratio of 6.46, a PEG ratio of 0.29 and a beta of 1.44. The stock has a fifty day moving average of $103.07 and a 200-day moving average of $117.40. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $149.47.
PulteGroup (NYSE:PHM - Get Free Report) last issued its earnings results 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 return on equity of 24.43% and a net margin of 17.18%. As a group, analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current year.
PulteGroup Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.93%. The ex-dividend date was Tuesday, March 18th. PulteGroup's dividend payout ratio (DPR) is presently 5.98%.
PulteGroup declared that its board has initiated a share repurchase program on Thursday, January 30th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the construction company to repurchase up to 6.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's management believes its shares are undervalued.
About PulteGroup
(
Free Report)
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.
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