PulteGroup, Inc. (NYSE:PHM) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp decreased its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 5.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 250,626 shares of the construction company's stock after selling 13,764 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.12% of PulteGroup worth $27,293,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Logan Capital Management Inc. increased its position in PulteGroup by 67.7% during the third quarter. Logan Capital Management Inc. now owns 14,797 shares of the construction company's stock worth $2,124,000 after buying an additional 5,976 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in PulteGroup by 38.1% in the third quarter. Sanctuary Advisors LLC now owns 121,299 shares of the construction company's stock valued at $17,410,000 after acquiring an additional 33,472 shares during the last quarter. Systematic Financial Management LP raised its holdings in shares of PulteGroup by 3.9% in the 3rd quarter. Systematic Financial Management LP now owns 130,257 shares of the construction company's stock worth $18,696,000 after purchasing an additional 4,840 shares during the period. Nilsine Partners LLC lifted its stake in shares of PulteGroup by 929.2% in the 4th quarter. Nilsine Partners LLC now owns 20,574 shares of the construction company's stock valued at $2,240,000 after purchasing an additional 18,575 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in PulteGroup by 3.2% during the fourth quarter. Harbor Capital Advisors Inc. now owns 4,559 shares of the construction company's stock worth $496,000 after buying an additional 143 shares during the period. 89.90% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

A number of brokerages have commented on PHM. JPMorgan Chase & Co. reduced their price objective on PulteGroup from $162.00 to $155.00 and set an "overweight" rating on the stock in a research note on Friday, December 13th. The Goldman Sachs Group decreased their price target on PulteGroup from $140.00 to $124.00 and set a "neutral" rating for the company in a report on Tuesday, January 14th. Seaport Res Ptn upgraded shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research note on Thursday, March 6th. Wells Fargo & Company decreased their target price on shares of PulteGroup from $165.00 to $140.00 and set an "overweight" rating for the company in a research note on Tuesday, December 17th. Finally, Barclays dropped their price target on shares of PulteGroup from $125.00 to $117.00 and set an "equal weight" rating on the stock in a research note on Friday, January 31st. 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, the company currently has an average rating of "Moderate Buy" and a consensus price target of $140.86.

PulteGroup Stock Performance

Shares of NYSE PHM traded down $3.28 during trading on Friday, reaching $101.76. The stock had a trading volume of 1,412,997 shares, compared to its average volume of 1,950,286. The firm's 50 day moving average price is $107.58 and its two-hundred day moving average price is $121.31. PulteGroup, Inc. has a one year low of $100.35 and a one year high of $149.47. The stock has a market cap of $20.60 billion, a PE ratio of 6.92, a P/E/G ratio of 0.29 and a beta of 1.71. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current 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, topping 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%. On average, research analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a yield of 0.86%. PulteGroup's payout ratio is currently 5.98%.

PulteGroup announced that its Board of Directors has approved a stock repurchase plan on Thursday, January 30th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the construction company to reacquire up to 6.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Insider Activity

In other news, 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 completion of the transaction, the director now owns 56,617 shares of the company's stock, valued at approximately $6,026,879.65. The trade was a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Todd N. Sheldon sold 15,191 shares of the 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 completion of the sale, the executive vice president now directly owns 74,758 shares in the company, valued at approximately $7,961,727. This trade represents a 16.89 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,191 shares of company stock valued at $2,256,367. 0.76% of the stock is currently owned by insiders.

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.