FIL Ltd Has $13.78 Million Holdings in PulteGroup, Inc. (NYSE:PHM)

FIL Ltd lowered its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 57.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 126,541 shares of the construction company's stock after selling 174,194 shares during the quarter. FIL Ltd owned about 0.06% of PulteGroup worth $13,780,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank bought a new position in PulteGroup during the fourth quarter valued at about $427,562,000. Amundi raised its stake in shares of PulteGroup by 77.9% in 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 in the last quarter. Franklin Resources Inc. lifted its holdings in PulteGroup by 6.1% in the 4th quarter. Franklin Resources Inc. now owns 11,937,866 shares of the construction company's stock worth $1,300,034,000 after purchasing an additional 683,592 shares during the last quarter. Lord Abbett & CO. LLC lifted its holdings in PulteGroup by 3,118.4% in the 3rd quarter. Lord Abbett & CO. LLC now owns 376,717 shares of the construction company's stock worth $54,070,000 after purchasing an additional 365,012 shares during the last quarter. Finally, Tidal Investments LLC boosted its position in PulteGroup by 837.9% during the third quarter. Tidal Investments LLC now owns 173,727 shares of the construction company's stock worth $24,935,000 after purchasing an additional 155,204 shares during the period. Institutional investors and hedge funds own 89.90% of the company's stock.

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PulteGroup Stock Performance

PHM traded down $0.63 during trading on Tuesday, reaching $94.81. 1,725,836 shares of the company's stock were exchanged, compared to its average volume of 1,988,945. PulteGroup, Inc. has a fifty-two week low of $88.07 and a fifty-two week high of $149.47. The company has a market capitalization of $19.20 billion, a P/E ratio of 6.45, a PEG ratio of 0.29 and a beta of 1.44. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average price of $103.07 and a 200 day moving average price of $117.40.

PulteGroup (NYSE:PHM - Get Free Report) last posted 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 net margin of 17.18% and a return on equity of 24.43%. As a group, analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The business 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. The ex-dividend date was Tuesday, March 18th. This represents a $0.88 annualized dividend and a dividend yield of 0.93%. PulteGroup's dividend payout ratio (DPR) is presently 5.98%.

PulteGroup declared that its board has approved a share repurchase program 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 programs are usually an indication that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PHM. Seaport Res Ptn upgraded shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research note on Thursday, March 6th. Wedbush reissued an "outperform" rating and set a $135.00 target price on shares of PulteGroup in a research report on Friday, January 31st. The Goldman Sachs Group decreased their price target on shares of PulteGroup from $140.00 to $124.00 and set a "neutral" rating for the company in a report on Tuesday, January 14th. Barclays dropped their price objective on PulteGroup from $117.00 to $100.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Finally, Bank of America decreased their target price on PulteGroup from $135.00 to $134.00 and set a "buy" rating for the company in a research note on Monday, January 27th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, PulteGroup has an average rating of "Moderate Buy" and an average target price of $138.21.

Insider Buying and Selling

In related news, EVP Todd N. Sheldon sold 15,191 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 74,758 shares in the company, valued at $7,961,727. This trade represents a 16.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Brian P. Anderson sold 2,500 shares of the company's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $106.45, for a total transaction of $266,125.00. Following the sale, the director now directly owns 56,617 shares in the company, valued at $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. Insiders sold 21,191 shares of company stock worth $2,256,367 in the last 90 days. 0.76% of the stock is owned by company insiders.

About PulteGroup

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.