LSV Asset Management Reduces Holdings in PulteGroup, Inc. (NYSE:PHM)

LSV Asset Management trimmed its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 6.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,029,572 shares of the construction company's stock after selling 225,660 shares during the period. PulteGroup comprises 0.8% of LSV Asset Management's investment portfolio, making the stock its 27th biggest holding. LSV Asset Management owned approximately 1.48% of PulteGroup worth $329,920,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of PHM. Norges Bank purchased a new stake in shares of PulteGroup during the 4th quarter worth $427,562,000. Amundi boosted its holdings in PulteGroup by 77.9% during the fourth quarter. Amundi now owns 1,636,562 shares of the construction company's stock worth $180,775,000 after buying an additional 716,716 shares in the last quarter. Franklin Resources Inc. grew its position in PulteGroup by 6.1% during 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 period. Lord Abbett & CO. LLC lifted its position in shares of PulteGroup by 3,118.4% during the 3rd quarter. Lord Abbett & CO. LLC now owns 376,717 shares of the construction company's stock valued at $54,070,000 after acquiring an additional 365,012 shares during the period. Finally, Tidal Investments LLC boosted its stake in shares of PulteGroup by 837.9% during the 3rd quarter. Tidal Investments LLC now owns 173,727 shares of the construction company's stock worth $24,935,000 after acquiring an additional 155,204 shares in the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

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PulteGroup Trading Down 1.1 %

NYSE:PHM traded down $1.02 during trading hours on Tuesday, reaching $94.42. 682,256 shares of the company were exchanged, compared to its average volume of 1,984,931. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $149.47. The stock has a 50 day simple moving average of $103.07 and a 200 day simple moving average of $117.40. The firm has a market cap of $19.12 billion, a price-to-earnings ratio of 6.42, a PEG ratio of 0.29 and a beta of 1.44. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86.

PulteGroup (NYSE:PHM - Get Free Report) last issued its earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share for the quarter, beating analysts' consensus estimates 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 predict that PulteGroup, Inc. will post 12.32 EPS for the current year.

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

PulteGroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend was Tuesday, March 18th. PulteGroup's dividend payout ratio (DPR) is presently 5.98%.

Insider Activity at PulteGroup

In related news, VP Brien P. O'meara sold 3,500 shares of PulteGroup stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $106.40, for a total transaction of $372,400.00. Following the transaction, the vice president now owns 11,372 shares in the company, valued at approximately $1,209,980.80. The trade was a 23.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Brian P. Anderson sold 2,500 shares of the stock in a transaction 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 owns 56,617 shares of the company's stock, valued at approximately $6,026,879.65. This represents a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,191 shares of company stock worth $2,256,367. Company insiders own 0.76% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PHM. Bank of America reduced their price objective on PulteGroup from $135.00 to $134.00 and set a "buy" rating for the company in a report on Monday, January 27th. Wedbush reissued an "outperform" rating and issued a $135.00 price objective on shares of PulteGroup in a research note on Friday, January 31st. Oppenheimer cut their target price on shares of PulteGroup from $165.00 to $150.00 and set an "outperform" rating for the company in a research report on Friday, January 31st. The Goldman Sachs Group lowered their price target on shares of PulteGroup from $140.00 to $124.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 14th. Finally, Citigroup reduced 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 company's stock. According to MarketBeat.com, the company 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.